Hong Kong-based artificial intelligence startup SenseTime has postponed its IPO of up to USD 750 million in Hong Kong this year and has moved towards the private equity market to raise as much as USD 1 billion. While the startup warned in its prospectus about the unforeseen circumstances of conflict between Washington and Beijing, it never publicly addressed the prospect of getting cut off from American technology or markets. If you're not sure how to activate it, please refer to this site. SenseTime and China’s Ministry of Commerce didn’t immediately respond to requests for comment. Monday’s move marks another escalation in a U.S. effort to contain China’s technological ascendancy, a campaign that began by slapping curbs on Huawei Technologies Co. and now encompasses some of the country’s most promising startups. News. Trust Stamp has operated for five years and has 47 employees. Nachrichten zur Aktie Sense Technologies Inc | A2AHC3 | CA8169232052 While it still relies on Nvidia chips, it’s also developing in-house alternatives and investing in startups, SenseTime Chief Executive Officer Xu Li said in September. That bars them from doing business with American companies without a U.S. government license. Education, Auto, Sources: White House Allows AMD and Intel to Supply to Huawei, OPPO and Midea to Co-create Smart Home and IoT Ecosystem, Alibaba Cloud Launches 1.0 Version of PaaS for Cloud Gaming, Taking On Tencent, Huawei's Hubble Invests in VisionICs Microelectronics Technology, China's Smart TV: IoT, 5G and Smartphone Vendors Revitalizing 'Old' Market [1/2], Ask the author questions about the copied text. Considering its investment plans, the company's cash flow remains negative. The new Beijing Daxin airport is equipped with SenseTime's face recognition technology. It’s unclear how foreign investors may respond to Monday’s decision. The firm has information that Beijing-based rival Megvii recently Megvii-back-on-track-for-500-million-IPO-Sources-N3jH7iaXZu/index.html" target="_blank">obtained an IPO approval from the Hong Kong Stock Exchange, but has decided not to list for the time being given the current challenges. We strive to make technology inclusive, accessible and transparent. Tags Asia bilibili TC. This site uses Akismet to reduce spam. Both have enjoyed rip-roaring growth in recent years. An authentication and a biometrics provider have each been planning initial public offerings on different continents, but one is expected to go ahead, while the future of another looks increasingly uncertain. Coronavirus survives on skin five times longer than flu, Japan study finds, Japanese research team develops COVID-19 breath testing system, NHK wants to make it mandatory for households to report whether they have a TV, The story behind Thailand's 'Hunger Games' protest salute. The cannabis sector and financial markets as a whole have seen better days. So far, the COVID-19 pandemic has infected nearly 200,000 people, causing nearly 8,000 deaths, and with borders closed, supply chains and labor severely disrupted, many businesses and economies have been marginalized. 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With the presidential election looming and uncertainty growing about what will happen to the stock market and economy after that, private companies … Broadly defined as anything from autonomous driving and robot waiters to facial recognition systems, names like Megvii and SenseTime are joined by established players such as Huawei, Tencent Holdings Ltd. and Didi Chuxing Inc. in an effort that’s intended to seal China’s place at the nexus of the modern global economy. SenseTime started a joint IPO with China Investment Bank and China International Capital Corporation last year, but its IPO plan met hurdles due to it being one of the eight Chinese companies blacklisted by the US. Genner says Trust Stamp had planned to list in New York, but found it easier to launch the IPO in Europe, and he credits Euronext Dublin’s head of listing with helping convince the company to proceed in Ireland. The planned IPO would be the first in Ireland during 2020, according to the Independent. From TechCrunch. SenseTime has expanded from facial recognition technology to financial security, robot deliveries and driverless cars. Nvidia Corp., for one, is a key supplier to both AI firms. International. Tickers ASIA TC. SENSE TECHNOLOGIES AKTIE und aktueller Aktienkurs. BTS fans have a new way to show their love: buying shares, 'Bad math': Leading expert challenges airlines' COVID-19 safety claims, A crash course in the language of driving, Spectator cap to be raised to 5,000 for November Basho. SenseTime has the highest market value of any AI startup in China, according to the article, but the firm’s inclusion on the Entity List could make a lucrative IPO impossible. 9 Xiaguangli, 10F Block A CEC Development Mansion, Chaoyang Dc, Beijing 100125, China, A002, 5F, Ai Tower, 701 Yunjin Road, Xuhui Dc, Shanghai 200232, China, 800 Third Ave, 28F, New York, NY 10022, USA. Trust Stamp also has plans to hire a country director for Ireland, and open a local research and development centre, though it does not have a footprint in the country as of yet. Leading players like SenseTime and Megvii, already having trouble securing financing during an economic downturn, had considered international forays to sustain a sizzling pace of growth. SenseTime Delays Hong Kong IPO, Instead Eyes Private Equity Market to Raise USD 1 billion. EqualOcean is an international information service provider and investment research firm that aims to become a global platform for industrial innovation. “When we issue new equity for acquisitions, before the end of 2020, it will be at a significantly higher value.”. “This will make people think twice about working with these companies even if there are no legal reasons preventing them from doing so,” said Isaac Stone Fish, a senior fellow with the Asia Society’s Center on U.S.-China Relations. The company also plans to add features for detecting other urban issues, like water accumulation, or people hanging their clothes to dry in violation of local regulations. At the same time, only two companies were listed in Hong Kong in February, compared with 11 in the same month last year. Megvii said on its WeChat social media feed the U.S. blacklisting was “unsubstantiated” and that the company complies with all regulations in the markets in which it operates. Copyright ©2020 EqualOcean.com. Could reform mission put Taro Kono on path to succeed Suga? Psychedelic Stocks Are in High Demand as Champignon Brands and MindMed IPO in the Same Week. Recent news which mentions SenseTime. Image credit: SenseTime official Facebook page. SoftBank’s Portfolio Curse Continues: SenseTime to Stay Private Involuntarily, Chinese AI Startup Yitu Tech Raises USD 30 Million as Competitors Postpone IPOs. Also on Commerce’s list were lesser-known Xiamen Meiya Pico Information Co. and Yixin Science and Technology, major resources for China’s police force. Global stock markets have lost nearly USD 20 trillion since their highs in mid-January. Further, SenseTime may find funding supply highly competitive, with other domestic AI firms like CloudWalk, Megvii, Yitu and iFlyTek all now on the U.S. restricted list. The company continues to find applications in the domestic market, as a new “intelligent patrol screen” has been launched to SenseTime smart city platform SenseFoundry to monitor bicycle parking, litter and gathering crowds, Abacus reports. Yixin also provides big-data analysis for the Chinese authorities, according to its website. May 24, 2020. Currencies. The U.S. placed eight Chinese technology giants on a blacklist Monday, accusing them of being implicated in human rights violations against Muslim minorities in the country’s far-western region of Xinjiang. It’s been a rough start to the 2020 year as cannabis stocks continue to struggle to gain their footing. The AI system alerts city staff if a problem is detected, and apparently haphazardly-parked shared bikes are a significant issue in dense cities like Shanghai. Funds. They predict that SenseTime may consider raising USD 500 million to USD 1 billion from existing and new investors. Monday’s blacklisting could further decouple the two Chinese companies from the U.S. in terms of tech and funding. The company is opening a new research and development facility in Malta this week, backed by a €1 million ($1.1 million) grant from that country’s government, which it expects to house 20 biometrics, AI and ML experts by the end of 2020. Global stock markets have lost nearly USD 20 trillion since their highs in mid-January. In a speech at MIT in 2018, Tang Xiaoou (汤晓鸥宣), co-founder of Shangtang Technology, announced that his company defeated Facebook and its facial recognition technology achieved a near 99% success rate, making it one of the most advanced artificial intelligence solution providers. All rights reserved. The White House’s actions — announced days before sensitive trade negotiations resume in Washington — cast a pall over not just Megvii’s capital-raising effort but the burgeoning Chinese sector. When it mothballed its IPO plans in March the company said that it would raise $1 billion in private funding. Megvii’s IPO was supposed to have been the Chinese industry’s unofficial debut on the global stage. Megvii counts Qiming Venture Partners and Chinese AI guru Lee Kai-Fu’s Sinovation Ventures as backers. SenseTime and Megvii are trying to reduce their reliance on American software and circuitry by developing their own chips. Qasim Khan Instead, the company said in an emailed correspondence “At this stage we do not have any new financial plans or information to share.”. Tickers … As the global economy is likely to decline, investors have opted for safe-haven investments. U.S.-based Trust Stamp is planning an IPO to the Euronext Dublin exchange later this year at a valuation of €29 million (US$32.4 million), or €7 (roughly $7.80) per share, CEO Gareth Genner has confirmed to the Irish Independent.

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