(Reuters) – Chinese artificial intelligence software developer SenseTime Group 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.
(Reporting by Archishma Iyer in Bengaluru; Editing by Nivedita Bhattacharjee)
