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BUZZ-SenseTime surges on tie-up with Cambricon to build AI infrastructure

Reuters
Oct 15
BUZZ-SenseTime surges on tie-up with Cambricon to build AI infrastructure

** Shares of SenseTime Group 0020.HK jump 5.4% to HK$2.52, on course for the biggest one-day pct gain since September 30

** Stock on track to snap five straight sessions of losses; top pct gainer on Hang Seng Tech Index .HSTECH, which is 2.5% higher

** SenseTime said on Wednesday it has signed a strategic cooperation agreement with Cambricon Technologies 688256.SS, focusing on promoting the integration of software and hardware

** Says the firms will establish a long-term partnership focused on building domestic AI infrastructure, expanding vertical business applications, and advancing technology globalization

** Shares of Cambricon rise as much as 4.3% to 1,246.98 yuan, on track for the biggest one-day pct gain since September 12

** YTD, SenseTime shares up 69.1%, Cambricon up 88.8%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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