Goldman Sachs will review its involvement in the planned stock market listing of Chinese artificial intelligence firm Megvii.

The US has blacklisted the company, alleging it is “implicated” in the repression of Muslim minorities.

Megvii, best known for its facial recognition algorithms, is reportedly seeking a valuation of up to $1bn.

In an emailed statement, Goldman Sachs said it was evaluating its role “in light of the recent developments”.

Goldman is a joint sponsor of the Megvii initial public offering, alongside Citigroup and JPMorgan Chase.

The US has blacklisted 20 Chinese government entities and eight firms it said were implicated in “repression, mass arbitrary detention, and high-technology surveillance”. Most of the government entities are security bureaus, while the eight firms are primarily AI-driven companies with applications

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