Goldman Sachs CEO David Solomon Photograph by Stuart Isett for Fortune Most Powerful Women

Goldman Sachs has said it’s reviewing its role in the planned IPO of Megvii, a high-valued Chinese AI startup that filed to go public in August. The review follows the placement of Megvii on a human rights blacklist by the U.S. government. Megvii is an Alibaba-backed AI startup that develops facial recognition and deep-learning software. It sells its software to both private customers and Chinese government entities, the latter which is the driving reason behind its blacklist [the U.S. government alleges Megvii, alongside 27 other Chinese firms, facilitated human rights abuses in China’s Xinjiang region]. SenseTime, another well-known Chinese AI startup, is among the blacklisted firms.

In an e-mail to Reuters, Goldman Sachs said it was “evaluating [its role in Megvii’s planned IPO] in light of the recent developments”. Goldman is a lead underwriter, alongside JPMorgan Chase and Citigroup, for Megvii’s IPO. The three aforementioned investment banks are well-known for having had leading roles in the IPOs of several tech companies. When Megvii filed to go public, it targeted to raise at least $500 million from selling shares to public investors. If it pulls through with an IPO, Megvii will be the first Chinese AI firm to hit the public markets.

In a statement to Reuters, Megvii said it “strongly objects” to being blacklisted and that there were “no grounds” for the decision. Megvii, whose Face++ image recognition software was implicated in a May report from Human Rights Watch (HRW), said it derived around 1% of its revenues from Xinjiang [the region of concern for the blacklist] in 2018 and none in the six months ended June 30.

Megvii has raised $1.4 billion in funding from investors including Alibaba, Boyu Capital, Bank of China Group Investment, the Abu Dhabi Investment Authority and the Russia-China Investment Fund. Its last known funding was a $750 million round in May that valued it at $4 billion.