2024-05-10
Chinese AI companies just take off: FT
LONDON, April 25 (Xinhua) -- The search for hot artificial intelligence (AI) stocks is underway in China as local companies speed up to develop large AI projects, the Financial Times (FT) has reported.
On Tuesday, China's biggest AI systems company SenseTime revealed the latest version of SenseNova 5.0 during its Tech Day event in Shanghai, prompting its shares to surge by more than 30 percent.
The London-based daily, the FT, said the company had a head start in AI research over its local competitors.
The latest version of the company's generative AI model has been going through upgrades at a rapid pace, said the report, noting that as China turns its focus to boosting investment in the local AI industry, SenseTime could find a bigger market at home.
It is too early to pick companies that could dominate China's generative AI market, but SenseTime offers a low-risk bet on a potential winner, it said.
