China’s SenseTime Surges 36% After Unveiling a New AI Model
- US-blacklisted firm unveils fifth version of its AI platform
- The company is one of many racing to develop generative AI
SenseTime Group Inc.’s stock soared its most in more than two years after releasing the latest version of its SenseNova generative AI model, highlighting the intense interest surrounding China’s efforts to develop artificial intelligence.
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, Chairman Xu Li said in a statement. Trading in the stock was suspended after the abrupt surge but will resume Thursday.