SenseTime Group Inc. made its biggest intraday jump in two months after speculation intensified that China’s most valuable AI company was preparing to launch its own challenger to artificial intelligence phenomenon ChatGPT.
(Bloomberg) — SenseTime Group Inc. made its biggest intraday jump in two months after speculation intensified that China’s most valuable AI company was preparing to launch its own challenger to artificial intelligence phenomenon ChatGPT.
Shares spiked as much as 18% on Tuesday after talk spread on social media that the SoftBank Group Corp.-backed firm would unveil a large-scale AI model next week, joining the hordes of software companies now seeking to compete with OpenAI. A SenseTime representative confirmed the company will soon send out invitations to a media event, without further details.
“They are going to launch a large model next week, on the 10th of April,” said CMB International analyst Marley Ngan. The product will likely relate to AI-generated content, she added. “The management talked about this during the results announcement last week. They sent out the invitation today.”
Shanghai-based SenseTime, best known as a leader in AI-powered computer vision, would be joining an already crowded race to lead the wave of generative AI — services like Midjourney and OpenAI’s Dall-E for image creation and conversational bots like ChatGPT and Google’s Bard have captured the popular imagination and sparked a rush to perfect the burgeoning technology. Alphabet Inc.’s biggest company has made responding to OpenAI’s ChatGPT a top priority, while Microsoft Corp. has made a $10 billion investment in the Silicon Valley startup led by Sam Altman.
Microsoft Invests $10 Billion in ChatGPT Maker OpenAI
In China, the competitive landscape is led by Baidu Inc., which introduced its offering, dubbed Ernie Bot, to a mixed reception. Baidu intends to integrate Ernie into its search and other software services over time, in similar fashion to Microsoft’s integration of ChatGPT in its Edge browser and Google’s use of Bard to augment search results.
Baidu Draws Skeptics as Doubt Grows Over ChatGPT Bot: Tech Watch
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