Huawei Technologies' founder Ren Zhengfei's global ambitions are marked in bricks and mortar at a new company campus in southern China, where the buildings are replicas from European cities.
SenseTime and Megvii, backed by U.S. investors, were eyeing big IPOs. ByteDance's TikTok unit was enjoying unfettered global growth. Alibaba was touting the global prospects for its cloud business, and DJI was consolidating domination of the drone business. ByteDance could be forced to sell TikTok as Washington considers following India in banning the short video app, a global product that analysts say is worth at least US$20 billion.
The companies are watching geopolitical developments"with white knuckles," said Daniel Ives, managing director of equity research at Wedbush Securities. Tencent Holdings has had some of its apps in India banned, but not popular games such as PlayerUnknown's Battlegrounds. The company recently launched a new California-based gaming studio and plans more such operations.
Source: News Formal (newsformal.com)
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