Alibaba-backed AI startup Megvii said to raise $1b IPO

Megvii
FILE PHOTO: The logo of Face++ facial recognition software is seen at the Security China 2018 exhibition on public safety and security in Beijing, China, October 24, 2018. REUTERS/Thomas Peter

Megvii, the owner of facial recognition developer Face++, is considering an initial public offering in Hong Kong that could net as much as $1 billion, people familiar with the matter said.

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