News Snapshot:
5 Nov 2020 Share China’s cash-burning AI companies have encountered difficulties with public fundraising due to blacklisting by the US government. Artificial intelligence (AI) developer Yitu Technology, which is banned from conducting business in the US since 2018, on Thursday filed for an initial public offering (IPO) on the Shanghai Stock Exchange, KrASIA has learned. With its main revenue coming from selling smart city, healthcare, and other AI solutions to public service institutes and businesses, Yitu has provided AI hardware and software to over 800 clients in China in the past years, according to the prospectus. In 2019, the firm...
