SenseTime postpones IPO

AI powerhouse Sensetime is first hit by sanctions and is now postponing its IPO indefinitely. The Chinese AI star company has lost its innocence as a tech pioneer by supplying surveillance equipment.

SenseTime is one of the AI companies that already found a practical use for their technology. The company’s software provides facial recognition with unprecedented accuracy. But despite investor interest, the company has postponed a planned Hong Kong IPO for the time being. The reason is a decision by the US government. The US government has imposed new sanctions on SenseTime (China.Table reported), which also affect the company’s future financial position. The reason for the sanctions is the large-scale application of SenseTime products to monitor the Uyghur minority.

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