Sanctions-hit Chinese facial recognition firm DeepGlint in muted trading debut in Shanghai, with US$1 billion market cap

  • DeepGlint, which was added to the US government’s trade blacklist in July last year, once targeted a US$300 billion valuation
  • The company’s initial trading performance paled in comparison to that of AI giant SenseTime’s debut in Hong Kong last December

DeepGlint is among a group of Chinese facial recognition tech companies that heavily rely on government orders. Photo: Bloomberg
Chinese artificial intelligence (AI) company DeepGlint, which once targeted a US$300 billion valuation, made its trading debut in Shanghai on Thursday, but quickly saw its share price decline amid the rout in tech stocks this week.

Shares of DeepGlint, which was added to the US government’s trade blacklist in July last year, was down 12 per cent over the past two days, heightening investor concerns about the potential of China’s AI industry. It recorded a market capitalisation of US$1 billion.

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