The SenseTime logo is seen at the 2021 China Content Broadcasting Network Exhibition held at the China International Exhibition Center in Beijing, China on May 29, 2021.
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Shares of SenseTime Group soared more than 30% on Wednesday after the Chinese AI giant unveiled its latest generative artificial intelligence model called SenseNova 5.0.
The company's shares traded at 82 Hong Kong cents per share, or 34.42% higher than the previous closing price of 61 cents.
SenseTime said in the release that the main advances in SenseNova 5.0 are focused on knowledge, mathematics, reasoning, and coding capabilities.
“When inputting the same knowledge, it improves understanding, summarization, and question and answer, providing strong support for vertical applications such as education and content industries,” the company said in a release.
Chairman Xu Li also reportedly claimed that SenseNova is superior to OpenAI's GPT 4 in most common usage scenarios, especially Chinese language usage scenarios.
SenseTime is one of a number of Chinese companies developing rivals to OpenAI's ChatGPT, a viral chatbot that has taken the world by storm with its ability to answer questions like a human.
Other tech giants such as Alibaba and Baidu have also developed their own generative AI platforms known as Tongyi Qianwen and Ernie Bot, respectively.