An attendee uses his smartphone to record a facial-recognition demonstration on himself at the Beijing Megvii booth at the MWC Shanghai exhibition in Shanghai, China, on June 27, 2019.
Qilai Shen | Bloomberg | Getty Images
President Donald Trump’s move to blacklist Chinese tech companies is threatening to derail what could be the first Chinese artificial intelligence firm to go public.
Megvii Technology, a Chinese AI company known for its facial recognition platform, is among a slew of companies the White House blacklisted due to alleged human rights violations against Muslim minorities in China’s far-western region of Xinjiang. Its planned initial public offering now might not see the light of day as Goldman Sachs, one of the IPO’s sponsors, said it’s rethinking its role due to the blacklist.
“We are evaluating in light of the recent developments,” regarding our involvement in the IPO, a spokesperson at Goldman told CNBC on Wednesday.
Megvii, backed by tech giant Alibaba, was scheduled…