WASHINGTON: Sinovel, one of China’s leading wind turbine-makers, was found guilty Wednesday of stealing proprietary technology from US firm AMSC, causing it $800 million in losses, the Justice Department said.
A Wisconsin jury convicted Beijing-based Sinovel Wind Group, of conspiracy to commit trade secret theft, theft of trade secrets, and wire fraud after an 11-day trial.
It said that in 2011, Sinovel recruited an Austria-based AMSC employee who stole source code from its computers that formed the basis of its technology for regulating the flow of electricity from wind turbines to electrical grids.
At the time AMSC, formerly known as American Superconductor, was selling its technology to Sinovel. Obtaining that code allowed Sinovel to drop its orders to the US company as it took the technology for its own, causing AMSC an estimated $800 million in losses.
Losing Sinovel orders plunged AMSC into “severe financial hardship,” as the company’s market value fell by $1 billion (SR3.75 billion) and it was forced to cut 700 jobs, more than half of its global workforce.
“Sinovel nearly destroyed an American company by stealing its intellectual property,” said acting assistant attorney general John Cronan.
“As today’s jury verdict demonstrates, this type of conduct, by any corporation — anywhere — is a crime, and won’t be tolerated.”
In a statement to the Shanghai Stock Exchange, where it is listed, Sinovel said on Thursday that it is “well prepared to take active measures to protect our interests and use legal means to strictly defend our legitimate rights and interests.”
It promised to “protect the rights and interests of the company’s medium and small shareholders” and “release information on the development of this case in a timely manner according to relevant regulations.”
Shares in the firm ended down 3.92 percent at 1.47 yuan on Thursday.
The US government has repeatedly warned of Chinese companies, both private and government-related, seeking to steal US trade secrets and technology.
Last week, a Chinese software developer was sentenced to five years in prison for stealing computer source code from IBM to hand over to a Chinese government agency.
China wind turbine-maker Sinovel guilty of stealing US trade secrets
China wind turbine-maker Sinovel guilty of stealing US trade secrets
Saudi PIF-backed Humain awards AI data center project to MIS
RIYADH: Humain, an artificial intelligence company backed by Saudi Arabia’s Public Investment Fund, has awarded Al Moammar Information Systems Co. a contract to design and build a data center dedicated to AI technologies.
In a filing to Tadawul, MIS said the project’s value exceeds 155 percent of its total revenues for 2024. The company reported revenues of SR1.21 billion ($320 million) last year, implying a contract value of nearly SR1.88 billion.
The development aligns with Saudi Arabia’s Vision 2030 program, which aims to position the Kingdom as a regional technology hub by the end of the decade.
The contract is expected to be signed on Feb. 15, 2026, and does not involve any related parties, according to the statement. MIS will design and construct a private AI-focused data center for Humain.
Earlier this month, Saudi Telecom Co. signed an agreement with Humain to launch a joint venture to develop and operate data centers dedicated to artificial intelligence in the Kingdom.
According to a Tadawul filing, Humain will hold a 51 percent stake in the joint venture, while stc will own the remaining 49 percent.
The data center will be developed through stc’s subsidiary Digital Data and Communications Centers, also known as center3.
The facility will feature advanced infrastructure capable of supporting up to 1 gigawatt of power, starting with an initial capacity of 250 megawatts, subject to customer demand.
Saudi Arabia has been ramping up its AI ambitions. Earlier this month, the Saudi Press Agency, citing the Global AI Index, said the Kingdom ranked fifth globally and first in the Arab region for growth in the AI sector.
The report said the ranking reflects the Kingdom’s progress in artificial intelligence and the success of its economic diversification strategy under Vision 2030.
Separately, MIS said on Dec. 24 that it signed a SR114.43 million contract with the Saudi Central Bank to renew IT systems support licenses. The 36-month agreement covers license renewals and ongoing support, with the financial impact expected to be reflected in the company’s fourth-quarter results.
