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China Tech Buzz

Global News Impacting Chinese Tech

Chinese professor lands US$3.4 billion fortune with SenseTime IPO | The Edge Markets

News Snapshot:

– A + A (Dec 29): Just weeks after the U.S. placed a unit of SenseTime Group Inc. on a blacklist for alleged human rights violations, the firm is about to make founder Tang Xiao’ou one of the world’s richest people. China’s largest artificial intelligence company priced its initial public offering at HK$3.85 (49 cents) per share, raising US$5.55 billion. That was the bottom of the expected range, but a signal that despite increased tensions with the U.S. and Beijing’s crackdown on tech giants, the country, including its vast surveillance machinery, continues to churn out huge fortunes and massive gains…

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