Xu Bing, co-founder and executive director of SENSETIME-W (00020.HK)  -0.010 (-0.621%)    Short selling $55.61M; Ratio 6.599%   , said at the Hong Kong FinTech Week that based on the three-in-one strategy of “large device - foundation model - application”, SenseTime is building one of China's largest AI cloud services as a pivotal part of the “large device”, preparing the industry for the advent of general AI (AGI).

The development of AI is a global trend, and technology industries, including SenseTime, have already made early arrangements and investments, said Xu, highlighting that short-term costs are not important, as “the risk of not doing it is greater than the risk of doing it”. If no investment is made, it could mean missing out a major opportunity.

He also pointed out that society's demand for AI and computing power is growing exponentially. The computing power required for the AI craze, games and short videos, will only continue to increase. With the explosive growth in demand for accelerated AI computing, it is predicted that the market size of AI computing centers will shot up by a triple digit.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-12 16:25.)