Chinese AI firm Megvii Technology Ltd, backed by Alibaba, has filed in Hong Kong to conduct an IPO targeting proceeds of at least $500 million, two people said, just as the city faces political unrest and its first recession in a decade. Beijing-based Megvii, widely known for facial recognition platform Face++, may raise as much as $1 billion in the initial public offering, said one of the people, who expect the share sale in the fourth quarter of the year.

source https://finance.yahoo.com/news/1-chinese-ai-start-megvii-045756593.html?.tsrc=rss