Context: The move comes as two of the AI startups have started their plans to go public on China’s Nasdaq-style tech board and the Hong Kong Stock Exchange. SenseTime, the Chinese AI giant blacklisted by Trump, sees demand surge during coronavirus The Hong Kong-based start-up’s 2020 sales are … Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. The company, Yitu shares Sensetime’s attitude towards the US sanctions, adding that the company wishes to be treated by the US government fairly, according to a, Megvii has in August filed in Hong Kong to conduct an initial public offering targeting proceeds of at least $500 million, according to, Shanghai-based Yitu is also considering a listing on China’s Star Market as early as this year, Bloomberg, Sensetime has opted out of operations in Xinjiang by selling out its 51% stake in a security joint venture in the region, the. On Tuesday, the Department of Commerce announced it was adding 28 Chinese firms to its "Entity List" – a trading blacklist which forces US companies to seek government permission before they can do business with any firms listed on it. The story has been updated to include Yitu’s statement in the Details section. The Massachusetts Institute of Technology said it is reviewing the university’s relationship with SenseTime, one of eight Chinese tech companies placed on the U.S. Subscriber Today, SenseTime is thriving with growing demand for its facial recognition software, especially as local governments in China adopt its technology to battle the coronavirus. The US Commerce Department on Monday placed 28 Chinese government agencies and companies, including video surveillance gear maker Hikvision and artificial intelligence firms SenseTime and Megvii, on a trade blacklist over Beijing’s alleged treatment of Uighur Muslims and other predominantly Muslim ethnic minorities in the Xinjiang Uighur Autonomous Region. Although the DoC's decision is likely to exacerbate US-Chinese tensions over trade, it was revealed Wednesday that the Federal Reserve expressed concerns over the trade war's potential impact on the US economy. Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. The Commerce Department, however, said the announcement was not tied to this week’s resumption of trade talks with China. as well as other partner offers and accept our. A US Hikvision spokesperson said on Monday the company “strongly opposes today’s decision by the US government” and that the move could “hurt Hikvision’s US business partners and negatively impact the US economy,” according to, Hikvision, with a market value of about $42 billion, receives nearly RMB 15 billion (around $2.1 billion) in revenue, or 30% of its total revenue, from overseas. Read more: China piled up more than 100 tons of gold as a buffer against Trump's trade war. A leading-edge research firm focused on digital transformation. The future of China’s largest artificial intelligence company was thrown into question last year when it was blacklisted by the Trump administration. Learn how your comment data is processed. The list also includes some of China’s largest artificial intelligence startups such as Sensetime, the world’s most valued AI private company, Alibaba-backed facial recognition firm Megvii, and another facial recognition software maker Yitu, as well as iFlytek, a Shenzhen-listed voice recognition software maker. By clicking ‘Sign up’, you agree to receive marketing emails from Business Insider Buzzy Chinese AI startup SenseTime has said it is "deeply disappointed" that the US recently decided to blacklist it. This site uses Akismet to reduce spam. The US Commerce Department on Monday placed 28 Chinese government agencies and companies, including video surveillance gear maker Hikvision and artificial intelligence firms SenseTime and Megvii, on a trade blacklist over Beijing’s alleged treatment of Uighur Muslims and other predominantly Muslim ethnic minorities in the Xinjiang Uighur Autonomous Region. Sign up to 10 Things in Tech You Need to Know Today. On Wednesday, a Hikvision spokesman told Reuters that "punishing Hikvision, despite these engagements, will deter global companies from communicating with the US government, hurt Hikvision's US businesses partners and negatively impact the US economy.". When a journalist asked a Chinese Foreign Ministry spokesman if China would retaliate to the blacklisting, he replied "stay tuned," the report said. This site, like many others, uses small files called cookies to help us improve and customize your experience. Image recognition specialist Megvii was one of the firms added to the US's 'Entity List' on Monday. 28 Chinese government agencies and companies, Nio, Xpeng, Li Auto: your cheat sheet to China's listed Tesla rivals, EV maker Byton CEO departs amid restructuring: report, China Tech Investor: Xiaomi’s resilience, with Bryan Ma, Zoom will be local version-only for Chinese users. SenseTime and Megvii are trying to reduce their reliance on American software and circuitry by developing their own chips. SenseTime is the second-most valuable artificial intelligence startup in the world, with investments from tech giants SoftBank and Alibaba and a private market valuation of … Account active Federal Reserve officials were revealed to have voiced concerns over the ongoing trade war's possible effects on the US economy, after minutes from a September meeting were published Wednesday. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. Wei Sheng is a Beijing-based reporter covering hardware, smartphone, and telecommunications, along with regulations and policies related to the China tech scene. Major investors are reportedly concerned, too. Amid the wave of disappointing tech IPOs in 2019, one major investor, Goldman Sachs, is reportedly reviewing its involvement in Megvii's planned listing after the tech firm was put on the list. SenseTime develops AI for use in a wide range of domains, including surveillance, image recognition, and medicine. The blacklisting represents an abrupt change in fortune for SenseTime, which became one of the most valuable AI startups in the world in May 2018 after a huge $600 million fundraise saw it valued at $4.5 billion. Major disruption at Okex, Filecoin strike: Blockheads, INSIGHTS | Data localization is going global, Proudly powered by Newspack by Automattic. Your morning cheat sheet to get you caught up on what you need to know in tech. Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. Learn more about how we use cookies in our cookie policy. A similar move against Chinese telecommunications equipment maker Huawei has forced the companies to lower revenue forecasts by. In a statement on its website published Tuesday, the firm — which develops image recognition and surveillance tech for use in industries including medicine and transportation — said it "will work closely with all relevant authorities to fully understand and resolve the situation.". More by Wei Sheng. The blacklisting represents an abrupt change in fortune for SenseTime, which became one of the most valuable AI startups in the world in May 2018 after a huge $600 million fundraise saw it … Details: The organizations added to the so-called “Entity List” include the Xinjiang Uighur Autonomous Region People’s Government Public Security Bureau, 19 subordinate government agencies, and eight commercial firms across China, according to a Commerce Department filing. TechCrunch fait partie de Verizon Media. It has raised $1.4 billion to date, including a huge $750 million Series D raise in May that was led by the Bank of China. Like SenseTime, the Beijing-based image recognition firm develops image recognition and deep learning for use in commercial and public-sector contexts. Being added to the trade blacklist bars entities from buying components and technology from American companies without US government approval. Visit Business Insider's homepage for more stories. On Monday, the Department of Commerce added 28 Chinese companies to the blacklist, which is known as the "Entity List.". China piled up more than 100 tons of gold as a buffer against Trump's trade war, became one of the most valuable AI startups in the world, revealed Wednesday that the Federal Reserve expressed concerns, A Chinese surveillance company may have just become the most valuable AI startup in the world. Harrison Jacobs/Business Insider, Another of the blacklisted firms, Hikvision, has also expressed dismay at the DoC's decision. Before joining TechNode, he wrote about... US and European stocks dropped on Tuesday, and according to a report from Bloomberg, China's Foreign Ministry has hinted at possible retaliation.