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Chinese AI Firm Eyes $750 Million Yearly Revenue Despite U.S. Blacklisting: Reports

By Matthew Walsh / Dec 09, 2019 01:16 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese artificial intelligence company SenseTime’s inclusion on a U.S. trade blacklist doesn’t seem to have stopped its earnings from ballooning.

The company, which specializes in facial recognition and video analysis technologies, expects revenue to grow to approximately $750 million this year, a 200% increase on the 2018 figure, according to a Friday report by Reuters that cited two unnamed sources.

The figure, which remains healthy despite not hitting the whopping 400% annual growth the company reported between 2015 and 2017, implies strong demand for SenseTime products, many of which have been used by China’s leading domestic smartphone and internet brands, Reuters said.

SenseTime told Caixin Global in an email that the company “does not respond to market rumors.”

Washington added Hong Kong-based SenseTime to its so-called entity list in October, a move that curtailed the company’s ability to do business with American suppliers. SenseTime is one of a host of companies on the list for allegedly facilitating rights abuses in China’s Muslim-majority region of Xinjiang. Both SenseTime and the Chinese government have denied the claims.

This article has been updated with comments from SenseTime.

Contact reporter Matthew Walsh (matthewwalsh@caixin.com)

Related: Government Asks SenseTime to Lead Plans for National Facial-Recognition Standards

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