Artificial Intelligence Billionaire's Death Prompts Stock Selloff -- WSJ

Dow Jones2023-12-18

By Weilun Soon

Stock in SenseTime hit a record low Monday after the Chinese artificial-intelligence specialist said its controlling shareholder, billionaire academic Tang Xiao'ou, had died at 55.

SenseTime said Tang, a company co-founder and board member, had died Friday , due to health issues that it didn't specify.

Tang, 55, co-founded SenseTime in 2014 with Xu Li, who is the firm's chief executive. Widely seen as a pioneer in AI, Tang earned his doctorate from the Massachusetts Institute of Technology and taught at a Hong Kong university.

The U.S. government has sanctioned SenseTime repeatedly since 2019 for allegedly violating human rights in Xinjiang. The company denied the accusations, and listed in Hong Kong in late 2021.

The company is loss-making. It reported a 1.3% rise in revenue from a year ago to $201.4 million for the first half of this financial year. In November, a short seller said SenseTime was inflating revenue, which the company denied.

Earlier this year, Forbes estimated Tang's wealth at about $2.2 billion.

NOTE: In-line links reference additional content of interest chosen by the WSJ news team.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

December 18, 2023 06:48 ET (11:48 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2392270964?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-12-18 19:48","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2392270964","market":"sh","top_or_hot":-1,"title":"Artificial Intelligence Billionaire's Death Prompts Stock Selloff -- WSJ","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Weilun Soon \n</p>\n<pre>\n \n</pre>\n<p>\n  Stock in SenseTime hit a record low Monday after the Chinese artificial-intelligence specialist said its controlling shareholder, billionaire academic Tang Xiao'ou, had died at 55. \n</p>\n<p>\n  SenseTime said Tang, a company co-founder and board member, had died Friday , due to health issues that it didn't specify. \n</p>\n<p>\n  Tang, 55, co-founded SenseTime in 2014 with Xu Li, who is the firm's chief executive. Widely seen as a pioneer in AI, Tang earned his doctorate from the Massachusetts Institute of Technology and taught at a Hong Kong university. \n</p>\n<p>\n  The U.S. government has sanctioned SenseTime repeatedly since 2019 for allegedly violating human rights in Xinjiang. The company denied the accusations, and listed in Hong Kong in late 2021. \n</p>\n<p>\n  The company is loss-making. It reported a 1.3% rise in revenue from a year ago to $201.4 million for the first half of this financial year. In November, a short seller said SenseTime was inflating revenue, which the company denied. \n</p>\n<p>\n  Earlier this year, Forbes estimated Tang's wealth at about $2.2 billion. \n</p>\n<pre>\n \n</pre>\n<p>\n  NOTE: In-line links reference additional content of interest chosen by the WSJ news team.\n</p>\n<pre>\n \n</pre>\n<p>\n  This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<pre>\n \n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 18, 2023 06:48 ET (11:48 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Artificial Intelligence Billionaire's Death Prompts Stock Selloff -- WSJ</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArtificial Intelligence Billionaire's Death Prompts Stock Selloff -- WSJ\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-18 19:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Weilun Soon \n\n\n \n\n\n  Stock in SenseTime hit a record low Monday after the Chinese artificial-intelligence specialist said its controlling shareholder, billionaire academic Tang Xiao'ou, had died at...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1109","symbol_name":"应用软件","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2392270964","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2392270964","pubTimestamp":1702900080,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Stock in SenseTime hit a record low Monday after the Chinese artificial-intelligence specialist said its controlling shareholder, billionaire academic Tang Xiao'ou, had died at 55.SenseTime said Tang, a company co-founder and board member, had died Friday , due to health issues that it didn't specify.Tang, 55, co-founded SenseTime in 2014 with Xu Li, who is the firm's chief executive. Widely seen as a pioneer in AI, Tang earned his doctorate from the Massachusetts Institute of Technology and taught at a Hong Kong university.The U.S. government has sanctioned SenseTime repeatedly since 2019 for allegedly violating human rights in Xinjiang. The company denied the accusations, and listed in Hong Kong in late 2021.The company is loss-making. It reported a 1.3% rise in revenue from a year ago to $201.4 million for the first half of this financial year. In November, a short seller said SenseTime was inflating revenue, which the company denied.Earlier this year, Forbes estimated Tang's wealth","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"80020":"商汤-WR","BK1109":"应用软件","00020":"商汤-W"},"translate_title":"人工智能亿万富翁的死亡引发股票抛售——华尔街日报","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"80020":0.6,"00020":0.9},"content_text":"By Weilun Soon \n\n\n \n\n\n  Stock in SenseTime hit a record low Monday after the Chinese artificial-intelligence specialist said its controlling shareholder, billionaire academic Tang Xiao'ou, had died at 55. \n\n\n  SenseTime said Tang, a company co-founder and board member, had died Friday , due to health issues that it didn't specify. \n\n\n  Tang, 55, co-founded SenseTime in 2014 with Xu Li, who is the firm's chief executive. Widely seen as a pioneer in AI, Tang earned his doctorate from the Massachusetts Institute of Technology and taught at a Hong Kong university. \n\n\n  The U.S. government has sanctioned SenseTime repeatedly since 2019 for allegedly violating human rights in Xinjiang. The company denied the accusations, and listed in Hong Kong in late 2021. \n\n\n  The company is loss-making. It reported a 1.3% rise in revenue from a year ago to $201.4 million for the first half of this financial year. In November, a short seller said SenseTime was inflating revenue, which the company denied. \n\n\n  Earlier this year, Forbes estimated Tang's wealth at about $2.2 billion. \n\n\n \n\n\n  NOTE: In-line links reference additional content of interest chosen by the WSJ news team.\n\n\n \n\n\n  This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n\n\n \n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 18, 2023 06:48 ET (11:48 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2392270964"}