Tragedy Impact: SenseTime, a Leading Chinese AI Giant, Faces Challenges

Posted under: SMB
Date: 2023-12-20
Tragedy Impact: SenseTime, a Leading Chinese AI Giant, Faces Challenges

The co-founder and AI scientist of Chinese AI company SenseTime, Tang Xiao’ou, has passed away at the age of 55 due to an undisclosed illness. SenseTime, known for AI software platforms and technologies, saw its shares plummet by nearly 20% to an all-time low following the news. SenseTime's shares have hit their lowest level in history, dropping nearly 50% year-to-date, with Hong Kong-listed shares reaching as low as 1.03 Hong Kong dollars ($0.13). Tang, an influential figure in China's AI field, founded SenseTime in 2014, and the company went public on the Hong Kong Stock Exchange in 2021. SenseTime acknowledged Tang's significant contributions and described him as "knowledgeable, pragmatic, and innovative." The company has been involved in AI content generation and facial recognition, but it faced challenges, including being placed on a US trade blacklist in 2019 over alleged links to human rights violations.