What happened: The world’s largest manufacturer of surveillance equipment Hikvision has lost $11 billion of market value since the start of China-US trade tensions in March. To fight the slowdown, Hikvision is investing in AI technology.
Why it’s important: The Bloomberg piece highlights that Hikvision is the largest player in surveillance hardware in the world: its next competitor China-based Dahua is less than a fifth its size. AI is likely to boost Hikvision earnings. Despite the trade tensions, the company doesn’t seem to be lacking clients, namely governments that want to spy on their citizens.