SenseTime Founder Tang Xiao’ou Dies at 55

The AI giant has been facing financial struggles, with its stock plunging more than 40% this year.

Tang Xiao’ou, the billionaire founder of Hong Kong-listed Chinese artificial intelligence giant SenseTime, died late on Friday, the company said in a statement on Saturday. He was 55 years old.
Tang, who is also an information engineering professor at the Chinese University of Hong Kong, died of an unspecified illness.
At the time of his death, Tang had a net worth of $1.1 billion, according to Forbes’ real-time wealth tracker, based on his stake in SenseTime.
The company, however, has been struggling in recent years. After its initial public offering in December 2021, investor enthusiasm has been fading amid slower growth prospects.
The AI company said in a filing to the Hong Kong stock exchange that the report is “without merit and contains unfounded allegations and misleading conclusions and interpretations.” Its stock has plunged more than 40% so far this year, and almost 80% since its IPO.