Even as China Cracks Down on Tech, AI Companies Plan IPOs

The motives behind the government action are complicated. Officially, it is designed to curb anti-competitive practices, secure private data, and address income inequality or “capitalist excess.” But it also brings powerful businesses closer in line with the Communist Party. “When Alibaba, Tencent, and JD.com are worth billions or even trillions of dollars and yet they are not under the Party’s …

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