The search for hot artificial intelligence stocks is under way in China as local companies create their answer to ChatGPT. China’s biggest AI systems company SenseTime is a veteran of this technology; the latest version of its generative AI model has been going through upgrades at a rapid pace. Given its rock-bottom valuation, the company’s head start in AI could outweigh the obvious risks weighing on its valuation.
The company revealed the latest version of SenseNova 5.0 during its Tech Day event in Shanghai on Tuesday. The next day its share price jumped more than 30 per cent. This update has significantly improved linguistic and creative capabilities. Its breakthroughs with tools for generating videos using text prompts mean the tech group could soon have an answer to Open AI’s text-to-video tool Sora.
SenseTime had a head start in AI research over local rivals. Its SenseNova model, launched in April last year, was among the earliest to win government approval for general public use. But it already had a decade’s worth of research and development and patents in AI, focused on facial recognition technology and automotive software.