2024-08-28 14:50:46.AIbase.11.3k
SenseTime's H1 2024 Performance: Generative AI Contributes 60% of Revenue, Up 256%
SenseTime's 2024 mid-year earnings report reveals significant growth in the first half of the year, with revenue reaching 1.74 billion RMB, a year-on-year growth rate of 21%. The generative AI business has become a major source of revenue, increasing by 256% and accounting for 60.4% of total revenue. Xu Li, the company's executive chairman and CEO, stated that the strategic shift towards generative AI has achieved initial results, coinciding with a golden period for AI development. Strong performance is mainly attributed to robust demand in the Chinese market for large models and intelligent computing services, along with the growth of 'SenseNova'.