HONG KONG -- Losses for Chinese artificial intelligence startup Megvii are far outpacing revenues as the company prepares for an initial public offering of nearly $1 billion on Shanghai's STAR Market while under sanction by the U.S. government.
Megvii, which a year ago abandoned plans to list on the Hong Kong Stock Exchange, is poised to become the first Chinese AI company to go public if mainland regulators approve its IPO. It counts Alibaba Group Holding and Ant Group among its largest shareholders.
