AI helps SenseTime cut loss to 4.3b yuan

SenseTime (0020) trimmed its net loss by 33.6 percent to 4.3 billion yuan (HK$4.6 billion) last year amid the rapid development of generative artificial intelligence.

Revenue grew by 10.8 percent to 3.8 billion yuan as the demand for generative AI model training, fine-tuning and inference experienced exponential growth, the Chinese AI firm said in a filing yesterday.

But the figure still fell short of expectations.

Sales from generative AI more than doubled to 2.4 billion yuan, accounting for 63.7 percent of the group's revenue.

Smart auto segment revenue decreased by 33.2 percent to 256.2 million yuan, primarily due to the decrease in revenue from the vehicle-to-everything business.

Revenue from computer vision also slumped by nearly 40 percent to 1.1 billion yuan.

Staff reporter