The logo of SenseTime is seen during the 2021 China Content Broadcasting Network exhibition at the China International Exhibition Center in Beijing, China on May 29, 2021.
Visual China Group | getty images
Shares of Chinese artificial intelligence company SenseTime fell as much as 18.25% on Monday, to an all-time low, following news of its founder’s death.
SenseTime’s Hong Kong-listed shares fell to 1.03 Hong Kong dollars ($0.13) on Monday – the lowest level in the firm’s history, according to LSEG data.
Shares of the AI company have fallen by almost 50% so far.
SenseTime founder and AI scientist Tang Jiayou died of illness on Friday at the age of 55, the company said in a statement on Saturday. Sensetime did not reveal the cause of his death.
SenseTime said in a post, “It is with a heavy heart that we announce the sad news that our beloved founder, Tang Jiayou… has succumbed to illness and will be remembered forever at 11:45 pm on December 15, 2023.” Left for.” On your official WeChat account.
“Our deepest condolences to Professor Tang’s family at this tragic time! Professor Tang’s knowledge, enthusiasm and endless pursuit of science will always inspire us to stay true to our core aspirations and move forward,” the company said on social media. ”
SenseTime develops AI software platforms and technologies, including AI-enabled content creation and facial recognition. The company joined the global race to develop generative AI as OpenAI’s ChatGPT grew in popularity following its launch in November 2022.
However, the company was put on the US trade blacklist in 2019, which prohibits American companies from doing business with it. The US alleged that SenseTime is linked to human rights violations in China’s Xinjiang region.
Tang founded SenseTime in 2014 and the company was listed on the Hong Kong Stock Exchange in 2021. He also held the positions of Director of Pujiang Laboratory, Director of Shanghai AI Lab, and Professor of the Chinese University of Hong Kong. company.
In its Saturday statement, the company described Tang as “an outstanding representative in the field of AI in China” and described him as “knowledgeable, insightful and innovative.”
