SenseTime’s red-hot start makes Tang one of world’s richest

Memorable debut: A pedestrian on a flyover near the SenseTime Group Inc headquarters in Shanghai. The artificial intelligence giant rose on its first day of trading after a rocky initial public offering that was delayed by concerns over fresh US sanctions. — Bloomberg

SenseTime Group Inc co-founder Tang Xiao’ou has become one of the world’s richest people, after the Chinese artificial intelligence (AI) champion blew past concerns about American sanctions to surge as much as 23% on its Hong Kong debut.

The Massachusetts Institute of Technology alum’s wealth has jumped by US$300mil (RM1.25bil) to roughly US$3.7bil (RM15.4bil) after SenseTime ended yesterday 7.3% above its initial public offering (IPO) price, according to the Bloomberg Billionaires Index.