Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    Loans
    Loans
    HomeNewsWorldChinese AI firm SenseTime refutes short-seller report allegations

    Chinese AI firm SenseTime refutes short-seller report allegations

    Earlier on Tuesday, the short-seller's report alleged the AI firm was artificially inflating revenue through revenue fabrication schemes.

    Reuters
    November 28, 2023 / 14:59 IST
    Chinese AI firm SenseTime refutes short-seller report allegations

    Chinese artificial intelligence software developer SenseTime Group (0020.HK) said on Tuesday that a short-seller report by Grizzly Research LLC is 'without merit' and will review the allegations against the company.

    Earlier on Tuesday, the short-seller's report alleged the AI firm was artificially inflating revenue through revenue fabrication schemes.

    Shares of the company fell as much as 9.7% to trade at HK$1.30 per dollar, hitting its lowest since last November.

    Reuters
    first published: Nov 28, 2023 02:51 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347