Founder of Chinese AI firm DeepGlint, an early mover, steps back amid rising losses

Quick Summary:

Losses at the image recognition firm have surpassed those of 2023, as it grapples with challenges from new technology and client concentration.

The company’s computer vision technology has been losing its edge to a new breed of generative AI (GenAI).Its shares fell to 15.72 yuan by midday trading on Wednesday [update with EOD figure], nearly half of its 39.49 yuan listing price in March 2022.

The 45-year-old entrepreneur holds a 17.55 per cent stake in the company.

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Article Details

Author / Journalist: Ben Jiang

Category: Business

Markets: Hong Kong

Topics: Founder General Yong Manager Deepglint Yuan Zhao Company Generative Losses Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 17:00:09 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 214 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23904170

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