The news of the possible listing comes shortly after that of the rival company Megvii
As reported by Bloomberg, Yitu, the artificial intelligence startup, is considering entering the stock exchange in China’s new Nasdaq-style price list.
Probably, Yitu was driven by the news of the possible listing of rival artificial intelligence company Megvii, which presented an IPO prospectus on the Hong Kong stock exchange, proving to be the first AI company in China to make such a move.
Yitu plans to list his name in Shanghai this year
The IA technologies of both companies are widely used in China and the two companies have a role of primary importance for the public security organs of the country.
China is home to a growing number of AI startups, many of whom have set their sights on capital markets. According to Bloomberg, Yitu plans to list his name in Shanghai this year.
Megvii would reconsider its IPO plans following the ongoing commercial tensions between the US and China
China – which in recent times has been confirmed as the country that most regards this new sector – is the home of the most valuable startup concerning artificial intelligence in the world: Sensetime.
However, before submitting the application, Megvii would reconsider its IPO plans following the ongoing trade tensions between the US and China. This is because the AI companies in China are trying to tap into capital markets, while venture capital funds slow down and investors raise questions about the potential profitability of these companies
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