China's SenseTime surges on unveiling new AI model, rival to GPT-4 Turbo
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 24 2024
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Source: SeekingAlpha
- SenseTime Stock Surge: SenseTime's stock rose by 31% in Hong Kong after launching its latest AI model, SenseNova 5.0, with improved capabilities.
- SenseNova 5.0 Features: The new AI model offers enhanced linguistic, creative, comprehension, and question-and-answer abilities, surpassing GPT-4 Turbo in evaluations.
- Market Performance: SenseTime's market capitalization dropped from $35B to $2.5B post-IPO but saw a surge in stock price to HK$0.80 on the Hong Kong Stock Exchange.
- Challenges Faced: SenseTime was blacklisted by the U.S. government in 2019, impacting access to capital and tech components due to allegations of human rights violations.
- Generative AI Trend: Generative AI services like ChatGPT have gained popularity globally, with Chinese companies developing their own Large Language Models (LLMs).
Analyst Views on BABA
Wall Street analysts forecast BABA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BABA is 203.66 USD with a low forecast of 172.00 USD and a high forecast of 230.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
13 Buy
1 Hold
0 Sell
Strong Buy
Current: 177.180
Low
172.00
Averages
203.66
High
230.00
Current: 177.180
Low
172.00
Averages
203.66
High
230.00
About BABA
Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. The Company operates its business through nine segments. The China Commerce Retail segment is engaged in the China commerce retail business. The China Commerce Wholesale segment is mainly engaged in the operation of 1688.com. The Cloud Intelligence segment provides cloud services. The International Commerce Retail segment provides customer management services, sales of goods and logistics services. The International Commerce Wholesale segment is mainly engaged in the operation of Alibaba.com. The Cainiao Represents Logistics Services segment provides fulfilment services. The Local Services segment’s revenue includes platform commissions, logistics services revenue. The Digital Media and Entertainment segment engages in the operation of Youku and Alibaba. The All Others segment is mainly engaged in the Sun Art, Freshippo and other business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
