Shanghai-based smart-tech supercomputer pioneer SenseTime taps into its first hit debut with $6 billion fortune. AI stocks have been the most desirable assets currently, Tang Xiao’ou SenseTime cofounder fueled this debut. SenseTime is the first China AI company to list in IPO Hong Kong with a total of $740 million.
AI stocks are very scarce in Asia, said Ke Yan, head of research based in Singapore, DZT Research. This is the best opportunity for SenseTime to leverage its stocks’ prospects in the region. But behind SenseTime’s fame, U.S. sanctions lingered on it. Washington alleged that the company’s face-recognition software monitors ethnic Uyghurs in China. SenseTime in this case, denies the accusation.
Only in the first months of 2021, SenseTime has reached 1.7 billion yuan in sales, or up to 92% from early last year. This proves that SenseTime has made a sales impact. SenseTime is basically struggling to make profit. This is the company’s R&D (Research and Development) takes $581 million spending alone. While half of SenseTime revenue is from the Chinese government from using the company’s healthcare and traffic management services.
Chinese University of Hong Kong continues to employ SenseTime’s largest shareholder and executive directors. The professor who graduated from MIT co founded the company with his two students in 2014. They finally raised $5.2 billion from investors in 12 funding rounds. SenseTime aims at improving the money for computing power from IPO. This is for AI chip design and new products.
Today, SenseTime is launching a data center in Shanghai. It will become the largest AI supercomputer company in Asia. SenseTime is leveling up its supercomputer infrastructure to spark in the future.
