How this ‘tragedy’ is affecting Chinese AI giant SenseTime

AI scientist and the co-founder of Chinese artificial intelligence company SenseTime, Tang Xiao’ou has passed away. In an official statement, the company said that its founder succumbed to an illness at the age of 55. However, the company did not reveal the cause of his death. This tragedy has also struck hard for SenseTime as its shares have crashed by nearly 20% and have hit an all-time low. According to LSEG data, SenseTime’s share prices have hit the lowest level in the company’s history. The Hong Kong-listed shares of SenseTime dropped to as low as 1.03 Hong Kong dollars ($0.13). The shares of the Chinese company are down nearly about 50% year-to-date.

What the company said about its founder
In a post on its official WeChat account (seen by CNBC), SenseTime said: “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 11:45 pm on December 15, 2023.