China’s SenseTime Soars 36% After Unveiling Latest Generative AI Model
Apr 24, 2024 - bloomberg.com
SenseTime Group Inc.'s stock experienced its most significant rise in over two years following the release of the latest version of its SenseNova generative AI model. The shares surged by up to 36% after the company unveiled SenseNova 5.0 during its Tech Day event in Shanghai, reflecting the growing interest in China's development of artificial intelligence.
The new ChatGPT-like platform has seen substantial improvements in linguistic and creative capabilities, according to Chairman Xu Li. The sudden increase in the company's stock led to trading being temporarily suspended.
Key takeaways:
SenseTime Group Inc.'s stock soared its most in over two years following the release of its latest SenseNova generative AI model.
The shares gained as much as 36% after the company revealed SenseNova 5.0 during its Tech Day event in Shanghai.
The ChatGPT-like platform has significantly improved in terms of linguistic and creative capabilities, according to Chairman Xu Li.
Trading in the stock was suspended after the abrupt surge.
