Fundraising

SenseTime Technology announced that it plans to place Class B shares, raising a total of HK$2.008 billion (currently about RMB 1.871 billion). According to the Science and Technology Innovation Board Daily, SenseTime has a number of strategic investors and leading overseas funds in this placement, and existing shareholders have increased their holdings. The funds raised will be used for large model research and product development. It is reported that SenseTime will release the daily new 5.5 large model at the World Artificial Intelligence Conference on July 5. The official did not disclose more information about the daily new 5.5 large model, and domestic media previously reported that SenseTime’s daily new large model will “soon”…