A logo design of SenseTime is seen throughout 2021 China Content Broadcasting Network Exhibition at China International Exhibition Center on May 29, 2021 in Beijing, China.
Visual China Group|Getty Images
Shares of Chinese expert system business SenseTime plunged as much as 18.25% on Monday, being up to an all-time low after news of its creator’s death.
Hong Kong- noted shares of SenseTime dropped to as low as 1.03 Hong Kong dollars ($ 0.13) on Monday– the most affordable level in the company’s history according to LSEG information.
Shares of the AI business are down about 50% year-to-date.
SenseTime creator and AI researcher Tang Xiao’ou passed away on Friday at the age of 55 after catching a disease, the business stated in a declaration onSaturday SenseTime did not expose the reason for his death.
“It is with a very heavy heart that we announce the sad news that our beloved founder, Tang Xiao’ou … succumbed to an illness and left us forever at 11:45pm on December 15, 2023,” stated SenseTime in a post on its main WeChat account.
“Our deepest sympathies to Professor Tang’s family at this sad time! Professor Tang’s wisdom, enthusiasm and endless exploration of science will always inspire us to stay true to our original aspirations and forge ahead,” the business stated on social networks.
SenseTime establishes AI software application platforms and innovations, consisting of AI-enabled material generation and facial acknowledgment. The business signed up with the worldwide race to establish generative AI because OpenAI’s ChatGPT took off in appeal after its launch in November 2022.
However, the business was put on a U.S. trade black list in 2019, which limits American companies from working with it. The U.S. declared that SenseTime is connected to human rights infractions in China’s Xinjiang area.
Tang established SenseTime in 2014 and the business was noted on the Hong Kong Stock Exchange in2021 He likewise held the positions of director of Pujiang Laboratory, director of Shanghai AI Lab, and a teacher of the Chinese University of Hong Kong, according to the business.
The business in its Saturday declaration hailed Tang as “an outstanding representative in the field of AI in China,” and described him as “knowledgeable, pragmatic and innovative.”
