In this research note we examine the ups and downs of Chinese artificial intelligence (AI) giant, SenseTime, during their turbulent first year as a publicly traded company. Founded in 2014 by computer scientists, SenseTime specializes in AI-powered software that analyzes images, including faces, and competes directly with Megvii Technology, backed by the Alibaba Group, which is also an investor in SenseTime. SenseTime is now China’s most valuable AI firm. Like China’s older tech giants Huawei and SMIC, the company is regarded as a national champion for its leadership in an emerging field that is considered key to establishing China’s tech credentials globally. However, like Huawei and SMIC, SenseTime has also been one of the high-profile targets of sanctions from the US. SenseTime eventually completed its IPO at the end of December 2021 after the original share-sale schedule was derailed after a move by the US Treasury Department to sanction the company for its alleged role in creating facial-recognition software […]