DOMESTIC artificial intelligence (AI) giant SenseTime Group Inc. climbed on its first day of trading in Hong Kong on Thursday after a rocky initial public offering (IPO) that was delayed by concerns over fresh U.S. sanctions. The shares jumped as much as 23 percent from their IPO price in early trading after the firm raised US$740 million in its IPO and priced its shares at HK$3.85 (US$0.49) each, at the bottom of the range flagged. The deal valued SenseTime at US$16.4 billion, while gains in the first trading session added up to US$3.8 billion to the market capitalization. SenseTime’s rip-roaring debut defied all expectations, particularly after a U.S. ban on American investors forced the AI company to first delay its IPO, then price its shares at the very bottom of a previously indicated range. The firm has been one of the most high-profile Chinese tech firms targeted by the United States. The U.S. Treasury added SenseTime to a list of “Chinese military-industrial complex companies” Dec. 10 and the addition would prohibit U.S.-based investors from buying the firm’s shares. (SD-Agencies) | 