Elly Rostoum
US policymakers warn of “countries of concern,” blacklist Chinese firms, and debate restrictions on artificial intelligence exports. Yet a far larger — and quieter — development is unfolding in plain sight: an unprecedented influx of foreign capital.
Since 2025, the US has welcomed a staggering $10.5 trillion in investment commitments spanning semiconductor manufacturing, energy infrastructure and cloud computing. While some of these commitments may not materialize, the investments are celebrated as evidence of renewed American industrial vitality, even though their sheer scale should prompt scrutiny. Close attention is warranted to the source of the capital and its potential security risks.
Foreign government investors account for 51% of the pledge investment at $5.3 trillion. The United Arab Emirates and Qatar alone have promised $1.4 trillion and $1.2 trillion respectively, followed by Japan with roughly $1 trillion, Saudi Arabia with $600 billion, and India approaching $500 billion. By comparison, cumulative private European investment pledges into American tech total roughly $802.8 billion.
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