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SenseTime Soars on Speculation It Will Create AI Rival to ChatGPT

The shares rise by their most in more than two months!

SenseTime Group Inc. rose its most in two months after speculation spread among investors that China’s most valuable specialist AI company was preparing to launch a challenger to the artificial intelligence phenomenon ChatGPT.

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Shares spiked 13% on Tuesday after talk spread on social media that the SoftBank Group Corp.-backed firm would unveil a large-scale AI model in the coming days, joining the hordes of software companies now seeking to compete with OpenAI’s creation. A SenseTime representative confirmed the company will soon send out invitations to a media event, without further details.

Shanghai-based SenseTime, best known as a leader in AI-powered computer vision, would be joining an already crowded race to develop generative AI. Services like Midjourney, OpenAI’s Dall-E and conversational bots from ChatGPT to Google’s Bard have captured the popular imagination and sparked a rush to perfect the burgeoning technology. Alphabet Inc.’s biggest company has prioritized its response to ChatGPT, while Microsoft Corp. has pledged a $10 billion investment in the Silicon Valley startup led by Sam Altman that developed the bot.


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