Chinese AI giant SenseTime suspends trading as shares surge more than 30% after launch of updated large language model

“In our pursuit to push the boundaries of SenseNova’s capabilities, SenseTime remains guided by the Scaling Law as we build upon our large [language] model based on this three-tier architecture: knowledge, reasoning and execution,” said Li, referring to expanding the LLM’s size by increasing its parameter count to boost its learning and generalisation capacity.

SenseTime co-founder, chairman and chief executive Xu Li, stage right, conducts a live demonstration of the SenseNova 5.0 large language model during the company’s Tech Day event in Shanghai on Tuesday. Photo: Handout
Major advances in the 5.0 version of SenseNova, which made its debut in April 2023, focus on knowledge, mathematics, reasoning and coding capabilities, according to Xu.

Given the same knowledge input, SenseNova 5.0 provides better comprehension, summarisation, and question and answers to support vertical applications such as in the education and the content industries, according to a SenseTime statement. The updated LLM is also touted to have “best-in-class mathematical, coding and reasoning capabilities, providing a solid foundation for applications in finance and data analysis”.

SenseNova 5.0 also supports high-definition image parsing and understanding, as well as text-to-image generation, according to SenseTime. In addition, the LLM’s latest iteration also extracts complex data across documents and summarises answers to questions, “offering strong multimodal interaction capability”.

A view of the global headquarters of artificial intelligence company SenseTime at the Hong Kong Science Park on December 13, 2021. Photo: AFP

The updated LLM, according to SenseTime, had undergone more than 10 terabytes of token training, covering a large amount of synthetic data, which has boosted its context window coverage – referring to the swathe of text that an AI model can process during conversation with users – to about 200,000.

At the Shanghai event, SenseTime’s Xu predicted that device-based LLMs will see exponential growth this year, as more AI-enabled personal computers, smartphones and smart cars become available in the market.
Since its trading debut in December 2021, SenseTime has seen its shares flounder as it struggled to be commercially viable under US sanctions, which prompted it to restructure operations last year. The company reported losses of 6.5 billion yuan (US$897 million) in 2023, as revenue declined 10.6 per cent year on year to 3.4 billion yuan.

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