Founder of SenseTime, China's AI Titan, Succumbs to Unknown Illness Amid US Short Seller Accusations
Portfolio Pulse from Benzinga Neuro
Tang Xiao’ou, the billionaire founder of China's AI giant SenseTime, has passed away due to undisclosed health issues. SenseTime, known for its facial recognition technology, has faced accusations from US-based short-seller Grizzly Research of inflating revenue, which the company denied. Despite this, SenseTime's stock fell nearly 10%, with cumulative losses of over 40% this year and over 80% since its IPO. The company's future is uncertain, especially after Alibaba Group Holding Ltd (NYSE:BABA) exited SenseTime in July 2023.
December 18, 2023 | 1:40 am
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Alibaba Group Holding Ltd exited its investment in SenseTime in July 2023, which may raise concerns about SenseTime's future and could reflect on Alibaba's investment strategies and market perception.
Alibaba's exit from SenseTime could be seen as a lack of confidence in the AI firm's future, potentially affecting investor sentiment towards Alibaba. The news of the founder's death and financial controversies surrounding SenseTime might further impact Alibaba's reputation for its past association and investment decisions.
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