SenseTime
{{Short description|Chinese artificial intelligence company}}
{{Use dmy dates|date=December 2021}}
{{Infobox company
| name = SenseTime
| logo = SenseTime logo.png
| logo_caption =
| image = SenseTime Hong Kong HQ.jpg
| image_caption = SenseTime's Hong Kong HQ at Hong Kong Science Park
| native_name = 商汤科技
| native_name_lang = zh
| type = Public; partly state-owned
| traded_as = {{hkex|0020}}
| industry = Artificial intelligence
| foundation = {{Start date and age|df=yes|October 2014}}
| founder = Tang Xiao'ou
Xu Li
| location_city =
| location_country =
| hq_location = Science Park, Hong Kong
| area_served = Computer vision, deep learning, face recognition, object detection, autonomous driving, smart cities, mobile apps, fintech, education
| key_people =
| products =
| services =
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| parent = China Internet Investment Fund
| subsid =
| homepage = {{Official URL}}
| footnotes =
}}
{{Infobox Chinese
| order = st
| s = 商汤科技
| t = 商湯科技
| p = Shāngtāng kējì
}}
SenseTime is a partly state-owned publicly traded artificial intelligence company headquartered in Hong Kong. The company develops technologies including facial recognition, image recognition, object detection, optical character recognition, medical image analysis, video analysis, autonomous driving, and remote sensing.{{Cite web|date=17 June 2019|title=Meet The World's Most Valuable AI Startup: China's SenseTime|url=https://www.forbes.com/sites/bernardmarr/2019/06/17/meet-the-worlds-most-valuable-ai-startup-chinas-sensetime/#1463439309fc|url-status=live|archive-url=https://web.archive.org/web/20201027221040/https://www.forbes.com/sites/bernardmarr/2019/06/17/meet-the-worlds-most-valuable-ai-startup-chinas-sensetime/#1463439309fc|archive-date=27 October 2020|access-date=20 July 2020|website=Forbes}} Since 2019, SenseTime has been repeatedly sanctioned by the U.S. government due to allegations that its facial recognition technology has been deployed in the surveillance and internment of the Uyghurs and other ethnic and religious minorities.{{Cite book |last1=Chin |first1=Josh |url=https://archive.org/details/surveillancestat0000chin |title=Surveillance State: Inside China's Quest to Launch a New Era of Social Control |last2=Lin |first2=Liza |date=2022 |isbn=978-1-250-24929-6 |edition=1st |location=New York |pages=211 |oclc=1315574672}}{{Cite news|last1=Swanson|first1=Ana|last2=Mozur|first2=Paul|date=7 October 2019|title=U.S. Blacklists 28 Chinese Entities Over Abuses in Xinjiang|language=en-US|work=The New York Times|url=https://www.nytimes.com/2019/10/07/us/politics/us-to-blacklist-28-chinese-entities-over-abuses-in-xinjiang.html|url-status=live|access-date=21 June 2020|archive-url=https://web.archive.org/web/20200415030304/https://www.nytimes.com/2019/10/07/us/politics/us-to-blacklist-28-chinese-entities-over-abuses-in-xinjiang.html|archive-date=15 April 2020|issn=0362-4331}}{{cite news|date=10 December 2021|title=SenseTime to Delay Hong Kong IPO After U.S. Blacklist Report|work=Bloomberg News|url=https://www.bloomberg.com/news/articles/2021-12-10/sensetime-said-to-consider-ipo-delay-as-investor-deadline-looms|access-date=13 December 2021|archive-date=13 December 2021|archive-url=https://web.archive.org/web/20211213183855/https://www.bloomberg.com/news/articles/2021-12-10/sensetime-said-to-consider-ipo-delay-as-investor-deadline-looms|url-status=live}} SenseTime denies the allegations.{{Cite web|date=2021-12-11|title=SenseTime rejects US blacklisting claims that threaten to scuttle IPO|url=https://www.scmp.com/business/banking-finance/article/3159325/sensetime-says-us-has-fundamental-misperception-company|access-date=2022-01-03|website=South China Morning Post|language=en|archive-date=3 January 2022|archive-url=https://web.archive.org/web/20220103012808/https://www.scmp.com/business/banking-finance/article/3159325/sensetime-says-us-has-fundamental-misperception-company|url-status=live}}
The China Internet Investment Fund, a state-owned enterprise under the Cyberspace Administration of China, holds a golden share ownership stake in SenseTime.{{Cite news |date=2021-11-18 |title=China's communist authorities are tightening their grip on the private sector |newspaper=The Economist |url=https://www.economist.com/business/chinas-communist-authorities-reinvent-state-capitalism/21806311 |url-status=live |url-access=subscription |access-date=2021-11-22 |archive-url=https://web.archive.org/web/20211122040933/https://www.economist.com/business/chinas-communist-authorities-reinvent-state-capitalism/21806311 |archive-date=22 November 2021 |issn=0013-0613}}
History
=2014=
SenseTime was co-founded in October 2014 by Tang Xiao'ou, a professor of the Department of Information Engineering at the Chinese University of Hong Kong (CUHK), and computer scientist Xu Li, among others.{{Cite web |date=19 July 2018 |title=Xu Li |url=http://fortune.com/40-under-40/xu-li-7/ |url-status=live |archive-url=https://web.archive.org/web/20180721073138/http://fortune.com/40-under-40/xu-li-7/ |archive-date=21 July 2018 |access-date=9 April 2019 |website=Fortune |language=en}}
=2015=
During 2015, nine of SenseTime's papers were accepted into the Conference on Computer Vision and Pattern Recognition (CVPR).{{Cite web |title=CVPR 2015 Open Access |url=https://www.cv-foundation.org/openaccess/CVPR2015.py |url-status=live |archive-url=https://web.archive.org/web/20181205105350/https://www.cv-foundation.org/openaccess/CVPR2015.py |archive-date=5 December 2018 |access-date=8 March 2019}}
=2016=
In 2016, 16 of SenseTime's papers were accepted in the CVPR Conference, and during the year's ImageNet competition, the company won first place in the object detection, video object detection, and scene analysis.{{Cite web |title=CVPR 2016 Open Access |url=https://www.cv-foundation.org/openaccess/CVPR2016.py |url-status=live |archive-url=https://web.archive.org/web/20181205104615/https://www.cv-foundation.org/openaccess/CVPR2016.py |archive-date=5 December 2018 |access-date=8 March 2019}}{{Cite web |title=Engineering team won in the ImageNet Large Scale Visual Recognition Challenge |url=http://cloud.itsc.cuhk.edu.hk/enewsasp/app/article-details.aspx/FA02415E4179E406B6EF52A69927BD11/ |url-status=live |archive-url=https://web.archive.org/web/20181205103431/http://cloud.itsc.cuhk.edu.hk/enewsasp/app/article-details.aspx/FA02415E4179E406B6EF52A69927BD11/ |archive-date=5 December 2018 |access-date=8 March 2019}}
=2017=
In October 2017, Qualcomm entered into a collaboration agreement with SenseTime.{{Cite web |date=18 October 2017 |title=SenseTime and Qualcomm to Collaborate to Drive On-Device Artificial Intelligence |url=https://www.qualcomm.com/news/releases/2017/10/20/sensetime-and-qualcomm-collaborate-drive-device-artificial-intelligence |url-status=live |archive-url=https://web.archive.org/web/20190328005151/https://www.qualcomm.com/news/releases/2017/10/20/sensetime-and-qualcomm-collaborate-drive-device-artificial-intelligence |archive-date=28 March 2019 |access-date=8 March 2019}} The following month, the Shanghai Municipal Government signed a strategic alliance agreement with SenseTime.{{Cite web |title=Milestones |url=https://www.sensetime.com/road |url-status=live |archive-url=https://web.archive.org/web/20181205103418/https://www.sensetime.com/road |archive-date=5 December 2018 |access-date=8 March 2019}} In December 2017, Honda and SenseTime signed a collaboration agreement.{{Cite web |date=7 December 2017 |title=Honda is working with Chinese AI unicorn SenseTime on self-driving tech |url=https://techcrunch.com/2017/12/07/honda-sensetime-self-driving-car/ |url-status=live |archive-url=https://web.archive.org/web/20190328005841/https://techcrunch.com/2017/12/07/honda-sensetime-self-driving-car/ |archive-date=28 March 2019 |access-date=8 March 2019 |website=TechCrunch}}
In November 2017, SenseTime set up a 'smart policing' company with Leon, a major supplier of data analysis and surveillance technology in Xinjiang.{{Cite news |last1=Shepherd |first1=Christian |date=15 April 2019 |title=China's SenseTime sells out of Xinjiang security joint venture |language=en-GB |website=Financial Times |url=https://www.ft.com/content/38aa038a-5f4f-11e9-b285-3acd5d43599e |url-status=live |url-access=subscription |access-date=1 May 2019 |archive-url=https://web.archive.org/web/20190501035219/https://www.ft.com/content/38aa038a-5f4f-11e9-b285-3acd5d43599e |archive-date=1 May 2019}}
=2018=
In February 2018, SenseTime and MIT announced the creation of a programme to further advance AI research.{{Cite web |date=2019-10-11 |title=MIT reviews partnerships with blacklisted Chinese tech firms |url=https://apnews.com/general-news-02389b0a8e2f4e88ae8dd8b429c07be2 |url-status=live |archive-url=https://web.archive.org/web/20240203034030/https://apnews.com/general-news-02389b0a8e2f4e88ae8dd8b429c07be2 |archive-date=3 February 2024 |access-date=2024-02-03 |website=Associated Press |language=en}} In April 2018, SenseTime, Alibaba, and the Hong Kong Science and Technology Parks Corporation (HKSTP) partnered together to form a nonprofit artificial intelligence lab in Hong Kong.{{Cite web|title=Alibaba's newest initiative aims to make Hong Kong a global AI hub|url=https://techcrunch.com/2018/05/21/alibaba-senstime-hong-kong-ai-lab/|url-status=live|archive-url=https://web.archive.org/web/20190328005359/https://techcrunch.com/2018/05/21/alibaba-senstime-hong-kong-ai-lab/|archive-date=28 March 2019|access-date=8 March 2019|website=TechCrunch|date=21 May 2018 }} The following month, SenseTime signed a collaborative memorandum of understanding with Nanyang Technological University (NTU), the National Supercomputing Centre of Singapore and Singapore Telecommunications Limited (SingTel).{{Cite web|title=SenseTime Debuts in Singapore by Signing Memoranda of Understanding with Local Giants NTU, NSCC and Singtel|url=http://markets.businessinsider.com/news/stocks/sensetime-debuts-in-singapore-by-signing-memoranda-of-understanding-with-local-giants-ntu-nscc-and-singtel-1027330334|url-status=live|archive-url=https://web.archive.org/web/20190328065804/https://markets.businessinsider.com/news/stocks/sensetime-debuts-in-singapore-by-signing-memoranda-of-understanding-with-local-giants-ntu-nscc-and-singtel-1027330334|archive-date=28 March 2019|access-date=8 March 2019|website=Business Insider}} In August of that same summer, SenseTime launched its first North American smart health lab in New Jersey.{{Cite web |title=SenseTime Establishes Smart Medical R&D Lab in New Jersey |url=https://www.redpulse.com/china/20180822/sensetime-establishes-smart-medical-rd-lab-in-new-jersey-9b10a64eb4 |url-status=live |archive-url=https://web.archive.org/web/20181205103607/https://www.redpulse.com/china/20180822/sensetime-establishes-smart-medical-rd-lab-in-new-jersey-9b10a64eb4 |archive-date=5 December 2018 |access-date=8 March 2019}}
In September 2018, SenseTime became one of the founding members of the Global Artificial Intelligence Academic Alliance (GAIAA), along with the Chinese University of Hong Kong, the Massachusetts Institute of Technology, the University of Sydney, Shanghai Jiao Tong University, Tsinghua University, Fudan University, Zhejiang University, Nanyang Technological University, and seven other universities.{{Cite web|title=CUHK Participates in the Initiation of "Global AI Academic Alliance"|url=https://www.cpr.cuhk.edu.hk/en/press_detail.php?id=2854&t=cuhk-participates-in-the-initiation-of-global-ai-academic-alliance&id=2854&t=cuhk-participates-in-the-initiation-of-global-ai-academic-alliance|url-status=live|archive-url=https://web.archive.org/web/20190328005233/https://www.cpr.cuhk.edu.hk/en/press_detail.php?id=2854&t=cuhk-participates-in-the-initiation-of-global-ai-academic-alliance&id=2854&t=cuhk-participates-in-the-initiation-of-global-ai-academic-alliance|archive-date=28 March 2019|access-date=8 March 2019}}
On 20 September 2018, SenseTime was named as China's National Open Innovation Platform for Next-Generation Artificial Intelligence on Intelligent Vision.{{Cite web|date=20 September 2018|title=Beijing recruits Hong Kong artificial intelligence start-up SenseTime to lead tech drive|url=https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2165105/beijing-recruits-sensetime-ai-start-hong-kong-lead|url-status=live|archive-url=https://web.archive.org/web/20190228141605/https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2165105/beijing-recruits-sensetime-ai-start-hong-kong-lead|archive-date=28 February 2019|access-date=8 March 2019|website=South China Morning Post}} The Wall Street Journal reported that SenseTiime was valued at $7.7 billion at the end of 2018.{{Cite news |date=15 May 2020 |title=Hong Kong's SenseTime Considers $1 Billion Capital Raise |work=The Wall Street Journal |url=https://www.wsj.com/articles/hong-kongs-sensetime-considers-1-billion-capital-raise-11589561280 |url-status=live |url-access=subscription |access-date=23 August 2020 |archive-url=https://web.archive.org/web/20200630190901/https://www.wsj.com/articles/hong-kongs-sensetime-considers-1-billion-capital-raise-11589561280 |archive-date=30 June 2020}} China's government designated SenseTime as one of its "AI champions" in 2018.{{Cite book |last=Zhang |first=Angela Huyue |title=High Wire: How China Regulates Big Tech and Governs Its Economy |publisher=Oxford University Press |year=2024 |isbn=9780197682258 |doi=10.1093/oso/9780197682258.001.0001}}{{Rp|page=281}}
=2019=
SenseTime joined MIT's Quest for Intelligence campaign.{{Cite web |title=MIT and SenseTime Announce Effort to Advance Artificial Intelligence Research |date=28 February 2018 |url=https://news.mit.edu/2018/mit-sensetime-announce-effort-advance-artificial-intelligence-research-0228 |url-status=live |archive-url=https://web.archive.org/web/20190821094558/http://news.mit.edu/2018/mit-sensetime-announce-effort-advance-artificial-intelligence-research-0228 |archive-date=21 August 2019 |access-date=26 August 2019}} SenseTime has a large high-performance computing network which supports its development and fielding of AI applications. According to a report by Gregory C. Allen of the Center for a New American Security, SenseTime's computing network includes "54,000,000 Graphical Processing Unit (GPU) cores across 15,000 GPUs within 12 GPU clusters."{{Cite web|last=Allen|first=Gregory|title=Understanding China's AI Strategy|url=https://www.cnas.org/publications/reports/understanding-chinas-ai-strategy|url-status=live|archive-url=https://web.archive.org/web/20190317004017/https://www.cnas.org/publications/reports/understanding-chinas-ai-strategy|archive-date=17 March 2019|access-date=15 March 2019|publisher=Center for a New American Security}}
In April 2019, The New York Times reported that SenseTime's software was used in the development of facial recognition systems used by the Chinese government directed largely at Uyghurs.{{Cite news|last=Mozur|first=Paul|date=14 April 2019|title=One Month, 500,000 Face Scans: How China Is Using A.I. to Profile a Minority|language=en-US|work=The New York Times|url=https://www.nytimes.com/2019/04/14/technology/china-surveillance-artificial-intelligence-racial-profiling.html|url-status=live|access-date=1 May 2019|archive-url=https://web.archive.org/web/20190608204738/https://www.nytimes.com/2019/04/14/technology/china-surveillance-artificial-intelligence-racial-profiling.html|archive-date=8 June 2019|issn=0362-4331}} In November 2019, SenseTime led a committee tasked with developing a standard for facial recognition in China.{{Cite news|last=Xue|first=Yujie|date=27 November 2019|title=27 Companies Drafting China's First National Facial Recognition Standard|work=Sixth Tone|url=https://www.sixthtone.com/news/1004893/27-companies-drafting-chinas-first-national-facial-recognition-standard|access-date=28 November 2019|archive-url=https://web.archive.org/web/20191128171834/https://www.sixthtone.com/news/1004893/27-companies-drafting-chinas-first-national-facial-recognition-standard|archive-date=28 November 2019}} In October 2019, SenseTime was placed on the United States Bureau of Industry and Security's Entity List for using its technology for human rights abuses in Xinjiang.{{Cite news|last1=Donnan|first1=Shawn|last2=Leonard|first2=Jenny|date=7 October 2019|title=U.S. Blacklists Eight Chinese Tech Companies on Rights Violations|work=Bloomberg News|url=https://www.bloomberg.com/news/articles/2019-10-07/u-s-blacklists-eight-chinese-companies-including-hikvision-k1gvpq77|url-status=live|access-date=9 November 2019|archive-url=https://web.archive.org/web/20200510022737/https://www.bloomberg.com/news/articles/2019-10-07/u-s-blacklists-eight-chinese-companies-including-hikvision-k1gvpq77|archive-date=10 May 2020}} Following the Entity List designation, MIT put its relationship with SenseTime under review.{{Cite web |last=Shu |first=Catherine |date=2019-10-09 |title=MIT is reviewing its relationship with AI startup SenseTime, one of the Chinese tech firms blacklisted by the US |url=https://techcrunch.com/2019/10/09/mit-is-reviewing-its-relationship-with-ai-startup-sensetime-one-of-the-chinese-tech-firms-blacklisted-by-the-u-s/ |access-date=2024-02-03 |website=TechCrunch |language=en-US}}
=2020=
In August 2020, Bloomberg News reported that SenseTime was considering an IPO in Hong Kong.{{cite news|title=AI Unicorn SenseTime Is Said to Mull Hong Kong, China IPO|url=https://www.bloomberg.com/news/articles/2020-08-13/softbank-backed-ai-startup-is-said-to-eye-hong-kong-china-ipo|url-status=live|access-date=13 August 2020|website=Bloomberg News|date=13 August 2020 |archive-date=13 August 2020|archive-url=https://web.archive.org/web/20200813210943/https://www.bloomberg.com/news/articles/2020-08-13/softbank-backed-ai-startup-is-said-to-eye-hong-kong-china-ipo}}
=2021=
On 9 July, SenseTime appointed Liu Cixin as advisor to its sci-fi research project.{{Cite web|date=13 July 2021|title=China's most famous sci-fi writer joins AI firm SenseTime in planet project|url=https://www.scmp.com/tech/tech-trends/article/3140806/ai-unicorn-sensetime-appoints-three-body-problem-author-liu-cixin|url-status=live|access-date=13 July 2021|website=South China Morning Post|language=en|archive-date=13 July 2021|archive-url=https://web.archive.org/web/20210713000527/https://www.scmp.com/tech/tech-trends/article/3140806/ai-unicorn-sensetime-appoints-three-body-problem-author-liu-cixin}} On 19 July, SenseTime launched its international AI innovation hub in Singapore.{{cite news|last1=Sharanya|first1=Pillai|title=Temasek-backed SenseTime launches AI innovation hub in Singapore|url=https://www.straitstimes.com/business/companies-markets/temasek-backed-sensetime-launches-ai-innovation-hub-in-singapore|url-status=live|access-date=22 July 2021|website=The Straits Times|date=19 July 2021|archive-date=22 July 2021|archive-url=https://web.archive.org/web/20210722072742/https://www.straitstimes.com/business/companies-markets/temasek-backed-sensetime-launches-ai-innovation-hub-in-singapore}} In August, SenseTime filed for IPO on Hong Kong Stock Exchange and, in November, received regulatory approval to list.{{Cite web|title=China's AI giant SenseTime readies Hong Kong IPO|url=https://techcrunch.com/2021/11/23/sensetime-ipo/|url-status=live|access-date=24 November 2021|website=TechCrunch|language=en-US|archive-date=11 December 2021|archive-url=https://web.archive.org/web/20211211155826/https://techcrunch.com/2021/11/23/sensetime-ipo/}} In September 2021, Axios reported that SenseTime uses a subsidiary, Shanghai SenseTime, to sidestep U.S. sanctions targeting subsidiary Beijing SenseTime.{{cite news|last=Markay|first=Lachlan|date=29 September 2021|title=Chinese tech firm sidesteps sanctions|work=Axios|location=|url=https://www.axios.com/chinese-tech-firm-sidesteps-sanctions-de43feaf-7df5-46ad-85bd-8a37ab468e2e.html|access-date=18 October 2021|archive-date=18 October 2021|archive-url=https://web.archive.org/web/20211018133415/https://www.axios.com/chinese-tech-firm-sidesteps-sanctions-de43feaf-7df5-46ad-85bd-8a37ab468e2e.html|url-status=live}}
On 10 December 2021, on Human Rights Day, the United States Department of the Treasury placed the company on an investment blacklist on its IPO pricing day because of its alleged human rights abuses in Xinjiang, banning U.S. investment in the company.{{cite news |last1=Sevastopulo |first1=Demetri |last2=Lockett |first2=Hudson |last3=McMorrow |first3=Ryan |date=9 December 2021 |title=US to blacklist Chinese AI company SenseTime over Xinjiang ahead of IPO |work=Financial Times |url=https://www.ft.com/content/8ee73509-e364-494e-b4c8-ff9a4f675078 |url-status=live |url-access=subscription |access-date=10 December 2021 |archive-url=https://web.archive.org/web/20211209173415/https://www.ft.com/content/8ee73509-e364-494e-b4c8-ff9a4f675078 |archive-date=9 December 2021}}{{Cite web |title=Treasury Sanctions Perpetrators of Serious Human Rights Abuse on International Human Rights Day |url=https://home.treasury.gov/news/press-releases/jy0526 |url-status=live |archive-url=https://web.archive.org/web/20230226182610/https://home.treasury.gov/news/press-releases/jy0526 |archive-date=26 February 2023 |access-date=2021-12-22 |website=U.S. Department of the Treasury |language=en}} The company denied the allegations, said it had "been caught in the middle of geopolitical disputes," and postponed its Hong Kong IPO plan.{{cite news |last1=Psaledakis |first1=Daphne |last2=Brunnstrom |first2=David |last3=Lewis |first3=Simon |date=11 December 2021 |title=U.S. imposes sweeping human rights sanctions on China, Myanmar and North Korea |language=en |work=Reuters |url=https://www.reuters.com/world/asia-pacific/us-issues-human-rights-related-sanctions-adds-sensetime-blacklist-2021-12-10/ |url-status=live |access-date=13 December 2021 |archive-url=https://web.archive.org/web/20211213040401/https://www.reuters.com/world/asia-pacific/us-issues-human-rights-related-sanctions-adds-sensetime-blacklist-2021-12-10/ |archive-date=13 December 2021}}{{Cite news |last=Murdoch |first=Scott |date=2021-12-20 |title=SenseTime relaunches $767m Hong Kong IPO after US investment ban |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/sensetime-relaunches-767m-hong-kong-ipo-after-us-investment-ban-2021-12-19/ |url-status=live |access-date=2021-12-22 |archive-url=https://web.archive.org/web/20211222014802/https://www.reuters.com/markets/deals/sensetime-relaunches-767m-hong-kong-ipo-after-us-investment-ban-2021-12-19/ |archive-date=22 December 2021}} The company hired law firm Hughes Hubbard & Reed, which argued that the investment ban did not apply to the company's parent domiciled in the Cayman Islands.{{Cite news|last=Bhuiyan|first=Johana|date=January 7, 2022|title=US sanctioned China's top facial recognition firm over Uyghur concerns. It still raised millions|work=The Guardian|url=https://www.theguardian.com/world/2022/jan/06/china-sensetime-facial-recognition-uyghur-surveillance-us-sanctions|access-date=January 7, 2022|archive-date=7 January 2022|archive-url=https://web.archive.org/web/20220107214712/https://www.theguardian.com/world/2022/jan/06/china-sensetime-facial-recognition-uyghur-surveillance-us-sanctions|url-status=live}}
The IPO, which had already been downsized from an expected US$2 billion to $767 million due to a PRC crackdown on tech companies, was delayed further.{{cite news |last1=Lockett |first1=Hudson |date=10 December 2021 |title=SenseTime's potential US blacklisting stokes unease over IPO |work=Financial Times |url=https://www.ft.com/content/51732eea-7da7-4579-a84f-145d83e32521 |url-status=live |url-access=subscription |access-date=10 December 2021 |archive-url=https://web.archive.org/web/20211211155919/https://www.ft.com/content/51732eea-7da7-4579-a84f-145d83e32521 |archive-date=11 December 2021}}{{cite news|last=|date=11 December 2021|title=China's SenseTime Hong Kong IPO in limbo after U.S. blacklisting -sources|language=en|work=Reuters|url=https://www.reuters.com/markets/us/chinas-sensetime-hong-kong-ipo-limbo-after-us-blacklisting-sources-2021-12-11/|access-date=11 December 2021|archive-date=11 December 2021|archive-url=https://web.archive.org/web/20211211085913/https://www.reuters.com/markets/us/chinas-sensetime-hong-kong-ipo-limbo-after-us-blacklisting-sources-2021-12-11/|url-status=live}} On 13 December, SenseTime announced that it will postpone its IPO.{{cite news |last1=Wu |first1=Kane |last2=Murdoch |first2=Scott |date=13 December 2021 |title=China's Sensetime postpones $767 mln Hong Kong IPO after U.S. ban |language=en |work=Reuters |url=https://www.reuters.com/markets/us/chinas-sensetime-withdraw-767-mln-hong-kong-ipo-sources-2021-12-13/ |url-status=live |access-date=13 December 2021 |archive-url=https://web.archive.org/web/20211213025348/https://www.reuters.com/markets/us/chinas-sensetime-withdraw-767-mln-hong-kong-ipo-sources-2021-12-13/ |archive-date=13 December 2021}} Its $767 million Hong Kong dollars offering was relaunched in Hong Kong on 20 December.{{Cite web|url=https://www.reuters.com/markets/deals/sensetime-relaunches-767m-hong-kong-ipo-after-us-investment-ban-2021-12-19/|title=SenseTime relaunches $767m Hong Kong IPO after US investment ban|first=Scott|last=Murdoch|date=20 December 2021|website=www.reuters.com |archive-url=https://web.archive.org/web/20211220001015/http://www.reuters.com/markets/deals/sensetime-relaunches-767m-hong-kong-ipo-after-us-investment-ban-2021-12-19/ |archive-date=2021-12-20 |url-status=live}}{{Cite web|title=Chinese Professor Lands $3.4 Billion Fortune With SenseTime IPO|url=https://finance.yahoo.com/news/chinese-professor-lands-3-4-170000404.html |first=Venus |last=Feng |date=2021-12-28|website=finance.yahoo.com|language=en-US |archive-url=https://web.archive.org/web/20211228202001/https://finance.yahoo.com/news/chinese-professor-lands-3-4-170000404.html |archive-date=2021-12-28 |url-status=live}} On 30 December, SenseTime completed its IPO on the Hong Kong Stock Exchange.{{cite web |last1=Murdoch |first1=Scott |last2=Wu |first2=Kane |date=30 December 2021 |title=SenseTime shares jump 23% on debut after $740 mln Hong Kong IPO |url=https://www.reuters.com/technology/sensetime-shares-open-up-16-hong-kong-debut-2021-12-30/ |url-status=live |archive-url=https://web.archive.org/web/20211230035217/https://www.reuters.com/technology/sensetime-shares-open-up-16-hong-kong-debut-2021-12-30/ |archive-date=30 December 2021 |access-date=30 December 2021 |website=Reuters |language=en}}
= 2022 =
On 18 February, index compiler Hang Seng Indexes Co. added SenseTime to the Hang Seng TECH Index.{{Cite web|last=Wang|first=Yifan|title=SenseTime, Lenovo shares jump after inclusion into Hang Seng indexes|url=https://www.marketwatch.com/story/sensetime-lenovo-shares-jump-after-inclusion-into-hang-seng-indexes-271645413665|access-date=2022-02-24|website=MarketWatch|language=EN-US|archive-date=24 February 2022|archive-url=https://web.archive.org/web/20220224131217/https://www.marketwatch.com/story/sensetime-lenovo-shares-jump-after-inclusion-into-hang-seng-indexes-271645413665|url-status=live}} On 9 August, SenseTime launched its first consumer-facing product – SenseRobot – a Chinese chess-playing robot.{{Cite web |date=2022-08-10 |title=China's AI champion in consumer foray with US$299 chess-playing robot |url=https://www.scmp.com/tech/article/3188316/chinas-ai-champion-sensetime-hits-consumer-market-first-time-us299-chess |url-status=live |archive-url=https://web.archive.org/web/20220811021520/https://www.scmp.com/tech/article/3188316/chinas-ai-champion-sensetime-hits-consumer-market-first-time-us299-chess |archive-date=11 August 2022 |access-date=2022-08-11 |website=South China Morning Post |language=en}} On 19 August, Hang Seng Indexes included SenseTime in the Hang Seng China Enterprises Index and increased its weighting in Hang Seng TECH Index from 0.15 to 1.76.{{Cite web |date=August 19, 2022 |title=Hang Seng Indexes Announces Index Review Results |url=https://www.hsi.com.hk/static/uploads/contents/en/news/pressRelease/20220819T000000.pdf |website=Hang Seng Indexes |access-date=22 August 2022 |archive-date=19 August 2022 |archive-url=https://web.archive.org/web/20220819113811/https://www.hsi.com.hk/static/uploads/contents/en/news/pressRelease/20220819T000000.pdf |url-status=live }} On 31 October, flagship Chinese publication of SPH Media Trust, Lianhe Zaobao, inked a memorandum of understanding (MOU) with SenseTime to digitalise the newspaper's work processes for visual content.{{cite web |last1=Lim |first1=Ry-Anne |title=Lianhe Zaobao inks MOU to trial AI technology for visual content |url=https://www.businesstimes.com.sg/companies-markets/lianhe-zaobao-inks-mou-trial-ai-technology-visual-content |website=The Business Times (Singapore) |access-date=19 June 2023 |language=en |date=Oct 31, 2022 |archive-date=19 June 2023 |archive-url=https://web.archive.org/web/20230619033451/https://www.businesstimes.com.sg/companies-markets/lianhe-zaobao-inks-mou-trial-ai-technology-visual-content |url-status=live }}
= 2023 =
In February 2023, SenseTime was invited to join the government of Hong Kong's delegation's visit to Saudi Arabia. During the trip, SenseTime exchanged an MOU with King Abdullah Financial District and Sela, a cultural tourism event management company in Saudi Arabia, to deepen collaborations in areas including smart city and digital tourism.{{Cite web |date=2023-02-06 |title=Hong Kong, Saudi Arabia sign 6 deals as Lee vows 'new level of cooperation' |url=https://www.scmp.com/news/hong-kong/society/article/3209190/hong-kong-saudi-arabia-sign-6-bilateral-deals-forge-closer-economic-ties-john-lee-vows-new-level |url-status=live |archive-url=https://web.archive.org/web/20230208084718/https://www.scmp.com/news/hong-kong/society/article/3209190/hong-kong-saudi-arabia-sign-6-bilateral-deals-forge-closer-economic-ties-john-lee-vows-new-level |archive-date=8 February 2023 |access-date=2023-02-08 |website=South China Morning Post |language=en}} In December 2023, SenseTime's stock price fell 18% following the unexpected death of its founder Tang Xiao'ou.{{Cite news |last=Chan |first=Edwin |date=December 18, 2023 |title=SenseTime Plunges After Death of China AI Firm's Co-Founder |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2023-12-18/sensetime-plumbs-new-depths-after-co-founder-s-shock-death |access-date=December 18, 2023 |archive-date=18 December 2023 |archive-url=https://web.archive.org/web/20231218015822/https://www.bloomberg.com/news/articles/2023-12-18/sensetime-plumbs-new-depths-after-co-founder-s-shock-death |url-status=live }}
In December 2023, SenseTime introduced SenseRobotGo, an interactive machine that plays the Chinese board game Go, to markets in Japan and South Korea.{{Cite web |date=2023-12-28 |title=Chinese AI champion SenseTime introduces Go playing robot to Japan, South Korea |url=https://www.scmp.com/tech/tech-trends/article/3246524/chinese-ai-champion-sensetime-introduces-go-playing-robot-japan-south-korea |access-date=2024-06-10 |website=South China Morning Post |language=en}}
= 2024 =
In April 2024, shares of the company surged by more than 30 percent after they announced their AI generative model, SenseNova 5.0.{{Cite web |last=Jie |first=Lim Hui |date=2024-04-24 |title=SenseTime shares soar more than 30% after announcing its latest generative AI model |url=https://www.cnbc.com/2024/04/24/sensetime-shares-soar-after-announcing-sensenova-5point0-generative-ai-model.html |access-date=2024-06-07 |website=CNBC |language=en}}{{Cite web |date=2024-04-24 |title=Chinese AI giant SenseTime suspends trading as shares surge more than 30% |url=https://www.scmp.com/tech/tech-trends/article/3260203/chinese-ai-giant-sensetime-suspends-trading-shares-surge-more-30-after-launch-updated-large-language |access-date=2024-06-07 |website=South China Morning Post |language=en}}
In October 2024, the company stated to Nikkei Asia that they were shifting to use more Chinese domestic chips. Alvin Zou, vice president of SenseTime's Asia Pacific Operations said that their Artificial Intelligence Data Center (AIDC) in Shanghai was equipped by Huawei and Biren Technology's chips.{{Cite web |title=China's SenseTime using 'a lot' of Huawei, other domestic AI chips |url=https://asia.nikkei.com/Business/Technology/China-s-SenseTime-using-a-lot-of-Huawei-other-domestic-AI-chips |access-date=2024-10-31 |website=Nikkei Asia |language=en}}
In December 2024, the United States Department of Defense labeled the company a Chinese Military Company operating in the U.S.{{Cite web |last=Areddy |first=James T. |date=January 7, 2025 |title=Pentagon Labels More Chinese Companies as Military in Nature |url=https://www.wsj.com/politics/national-security/pentagon-labels-more-chinese-companies-as-military-in-nature-bac351b5 |url-access=subscription |access-date=2025-01-08 |website=The Wall Street Journal |language=en-US}}{{Cite web |last=Soo |first=Zen |date=2025-01-07 |title=Chinese tech companies Tencent, CATL and others protest US listings as army-linked companies |url=https://apnews.com/article/tencent-catl-sensetime-china-military-2fd0859958f39e0b1684eac6a49dda96 |access-date=2025-01-08 |website=Associated Press |language=en}}
Products and services
In terms of security, SenseTime's technology has been used in several Chinese police departments in order to capture criminals through video footage. This is done through SenseTotem and SenseFace systems. Meitu, a popular Chinese selfie application, also uses SenseTime's technologies to modify a users' appearance. Due to concerns of its facial recognition programs being used as surveillance to ethnic Uyghurs, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) identified the company as a Non-SDN Chinese Military-Industrial Complex Company (NS-CMIC) in 2021.
References
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External links
- {{Official website}}
Category:2014 establishments in Hong Kong
Category:2021 initial public offerings
Category:Chinese entities subject to U.S. Department of the Treasury sanctions
Category:Chinese University of Hong Kong
Category:Companies listed on the Hong Kong Stock Exchange
Category:Data mining and machine learning software
Category:Facial recognition software
Category:Government-owned companies of China