US blacklisting threatens to derail $1b Chinese AI startup Megvii IPO

US blacklisting threatens to derail $1b Chinese AI startup Megvii IPO

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

Donald Trump’s latest salvo against China threatens to derail a $1 billion coming-out party for a prominent startup backed by Alibaba Group Holding Ltd, while curtailing the country’s broader ambitions of leading artificial intelligence in the coming decade.

The U.S. placed eight Chinese technology giants on a U.S. blacklist on Monday, accusing them of being implicated in human rights violations against Muslim minorities in the country’s far-western region of Xinjiang.

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