Chinese AI Firm SenseTime Cuts Back on Singapore Office Space [Yahoo! Finance Canada]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance Canada
back once-lofty ambitions at a time it's struggling to compete in the post-ChatGPT era. Most Read from Bloomberg The Chinese AI pioneer is moving from a prime downtown location to a smaller office in a less expensive neighborhood, people familiar with the matter said. The company is giving up a roughly 11,000 square foot (1,022 square meter) space in Frasers Tower for a less central building, the people said, asking to remain unidentified discussing private decisions. SenseTime is downsizing at a time fellow tech firms including ByteDance Ltd. are expanding abroad, seeking to escape an economic downturn back home. The retreat underscores how SenseTime, which in 2023 lost Alibaba Group Holding Ltd. as a financial backer, is grappling with new rivals in a crowded AI arena. It also reflects the changing fortunes of Singapore's prime office market, which has depended on expansions from deep-pocketed Chinese firms in recent years. That's now softening as companies cut costs and rea
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