AISpeech¶

AISpeech is a company focused on natural language processing and voice interaction technologies, dedicated to providing efficient and intelligent AI solutions for customers. AISpeech has demonstrated outstanding performance in areas such as speech recognition and natural language understanding, and its applications are widespread in fields like intelligent customer service, smart home, and intelligent in-vehicle systems.

Being in the currently booming AI language sector, AISpeech's IPO comes at an opportune moment. However, upon closer observation, it seems that AISpeech's specific business may be facing severe challenges from giants like Baidu and Alibaba.

For instance, AISpeech was once a supplier for Tmall Genie but has admitted that it has now terminated its cooperation with Alibaba. According to information from Alibaba, Tmall Genie is now integrating Alibaba's own language LLM. Since the language LLM industry is extremely capital-intensive, it is challenging for small and medium-sized players to compete directly, and the competitive landscape is likely to undergo significant changes in the future. AISpeech has acknowledged that it has not yet laid out plans for generative LLMs in the short term, and it may face risks in the future if its core technology cannot meet the market's diverse demands.

To make matters worse, AISpeech's financial situation is also deteriorating; it is not only continuously incurring substantial losses but also seeing its debt ratio rise from 47.24% at the end of 2021 to 75.22% at the end of 2022. Additionally, both Alibaba and Lenovo have reduced their holdings and cashed out before AISpeech's IPO. Whether it can successfully go public and raise funds might be a matter of life and death for the company.