Ambarella's (NASDAQ: AMBA) stock recently plunged after the Trump Administration added two of the chipmaker's top Chinese customers, Hikvision and Dahua, to its trade blacklist. Secretary of Commerce Wilbur Ross claims that the two security camera makers -- along with companies like facial recognition firms SenseTime and Megvii -- helped China engage "in the brutal suppression of ethnic minorities within China."
The Commerce Department claims that the blacklisted companies and bureaus provided technologies used for the "repression, mass arbitrary detention, and high-technology surveillance" of Muslim minority groups across China following the Urumqi riots a decade ago. China told the U.S. to stop interfering in its affairs, while Hikvision stated that it "strongly opposes" the decision.
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