Posted 12/18/2023, 10:14:00 AM
SenseTime Shares Plunge After Sudden Death of AI Pioneer Co-Founder Tang Xiao'ou
- SenseTime Group shares plunge over 11% after sudden death of co-founder Tang Xiao'ou
- Tang was a pioneer in China's AI industry and co-founded SenseTime in 2014
- He had a 21% stake in the company and his net worth was over $1 billion
- SenseTime's growth has slowed due to competition, US sanctions, and accusations of inflating revenues
- Tang's death raises uncertainty around control of the company given his large ownership stake