Posted 12/18/2023, 8:17:26 AM
SenseTime Shares Plunge Over 11% After AI Pioneer Co-Founder Tang Xiao'ou Dies Suddenly
- SenseTime Group shares plunged over 11% after co-founder Tang Xiao'ou's death was announced
- Tang was a pioneer in China's AI sector and helped create SenseTime, a leader in facial recognition
- SenseTime's growth has slowed due to competition, US sanctions over human rights issues, and recent short-seller accusations
- Tang owned 21% of SenseTime; his sudden passing raises questions around control of his significant stake
- SenseTime says Tang's death will not materially impact operations, but analysts point to potential voting power changes among remaining founders/directors