Eric Trump joins Beijing trip as Trump-linked firm explores China AI deal

Eric Trump joined President Donald Trump on a formal diplomatic visit to Beijing this week as a company tied to the Trump family pursued a potential business partnership with a Chinese technology firm that US lawmakers have previously flagged over alleged links to the Chinese military.

Las Vegas-based fintech company Alt5 Sigma, which is rebranding as AI Financial Corporation, recently signed a memorandum of understanding with Hangzhou-based chipmaker Nano Labs to explore cooperation on artificial intelligence infrastructure projects in the United States, says FT.

The agreement launches a 90-day evaluation period focused on potential collaboration in building US data centres, AI-native payment systems, cloud-based platforms for AI agents and other AI-related infrastructure projects.

The arrangement has drawn scrutiny because of the close connections between Alt5 Sigma and the Trump family.

Eric Trump serves as an "observer" on Alt5 Sigma's board and accompanied President Donald Trump during the state visit to Beijing.

Alt5 Sigma's board is chaired by Zach Witkoff, the son of Steve Witkoff, Trump's Middle East envoy. Zach Witkoff is also chief executive of World Liberty Financial, a cryptocurrency venture linked to the Trump family.

World Liberty Financial was the lead investor in Alt5 Sigma's $1.5 billion share offering, contributing $750 million in digital tokens known as WLFI. Alt5 Sigma held about 7.3 billion WLFI tokens as of late last year, valued at more than $1 billion, according to company figures.

Donald Trump Jr. and Eric Trump are also reportedly connected to a separate $1 billion investment vehicle through a New York brokerage focused on sectors supported by the Trump administration.

Republican lawmakers in the House and Senate have previously urged the Securities and Exchange Commission to scrutinise Nano Labs, describing the company as a "high-risk" entity with alleged ties to the Chinese Communist Party.

Lawmakers said Nano Labs' leadership structure created a "direct channel" between Chinese military interests and Western capital markets, and alleged the company benefited from US investment while supporting China's military modernisation efforts.

Neither Nano Labs nor Alt5 Sigma responded to questions regarding the national security concerns or the specifics of the proposed cooperation.

A spokesperson for Eric Trump said he was attending the Beijing trip in a "personal capacity" and would not participate in business meetings.

Eric Trump has previously said the Trump Organization avoided pursuing business in China because of tariffs and trade tensions, despite continued interest in the brand there.

White House officials rejected suggestions of a conflict of interest, saying President Trump acts solely in the "best interests of the American public."