Sensetime (00020.HK) announced a 9.1% discount to issue 1.673 billion new Class B shares, raising a net amount of approximately 1.995 billion Hong Kong dollars. The funds raised will be used to expand its large-scale Sensetime devices, as well as support the development of generative AI, including big model research and product development. According to sources, Sensetime will release its new DaiDaiXin Big Model version 5.5 at the World AI Conference on the 5th of next month.

In addition, it is reported that the current round of Sensetime’s share issuance has attracted not only existing shareholders to increase their shareholdings but also many strategic investors and leading overseas funds.