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Chinese AI company delays IPO after US blacklist

December 14, 2021
Source: webindia123.com webindia123.com
News Snapshot:
The Chinese artificial intelligence startup announced Monday that it would delay its widely anticipated initial public offering in Hong Kong, where it had planned to raise up to $767 million. It was set to start trading as soon as this week. On Friday, the US Treasury Department placed the firm on a list of "Chinese military-industrial complex companies," in which US President Joe Biden has banned Americans from investing, the report said. The US Treasury said that SenseTime was sanctioned because of the role its technology plays in enabling human rights abuses against the Uyghurs and other Muslim minorities in...
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Tags: AI | artificial intelligence | Beijing | Biden | blacklist | China | Chinese | CNN | facial recognition | government | Hong Kong | human rights | initial public offering | ipo | IT | KONG | military | Muslim | Religion | Software | stock exchange | technology | Uighur | Washington | Xinjiang

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