Posted 12/18/2023, 11:30:20 AM
Death of SenseTime Cofounder Tang Xiao'ou Sends Shares to Record Low, Raises Uncertainty for AI Giant
- Chinese AI expert Tang Xiao'ou, cofounder of SenseTime, died suddenly at age 55, causing SenseTime shares to hit a record low
- Tang was SenseTime's controlling shareholder, his death affects its voting structure and share conversion
- SenseTime says Tang's death won't impact daily management, but it faces challenges like declining profits and competition
- Tang cofounded SenseTime in 2014, making it a leader in facial recognition tech before 2021 US sanctions over Xinjiang
- SenseTime aims to continue Tang's mission under cofounder leadership, but its stock price has dropped 80% since 2021 IPO