AI scientist Yu Kai has recently joined the billionaire ranks after a successful IPO of his startup, Horizon Robotics, in Hong Kong. The company, which specializes in developing software and hardware for autonomous driving systems, saw its shares jump almost 16% to a record high, pushing Yu’s net worth over $1 billion. Yu, the chairman and CEO of Horizon Robotics, cofounded the company in 2015 with other industry experts and has since attracted a strong customer base, including major carmakers like Volkswagen and Hyundai.
Before venturing into entrepreneurship, Yu had a successful career in academia, focusing on machine learning and AI technologies. He made a name for himself while working at Baidu, where he led the Institute of Deep Learning and initiated an autonomous driving project that laid the groundwork for the company’s Apollo Go robotaxi business. Yu’s vision for developing AI chips capable of human-like capabilities eventually came to fruition with the launch of Horizon Robotics’ first assisted driving system in 2019, just as China outlined plans for mass production of autonomous cars by 2025.
Horizon Robotics has not only attracted big-name investors like Hillhouse Investment Management and Volkswagen but also established partnerships with key players in the automotive industry such as CATL and BYD. The company’s advanced technologies, including the Horizon SuperDrive system that supports Level 4 automation, have positioned it as a leader in the autonomous driving tech market. Horizon Robotics’ successful IPO comes amidst a wave of similar moves by other autonomous driving companies, such as WeRide and Black Sesame, indicating a growing interest and investment in this sector.
Yu’s journey from academia to entrepreneurship showcases the potential for individuals with a strong background in AI and machine learning to make a significant impact on the technology industry. His success with Horizon Robotics not only solidifies his position as a billionaire but also highlights the increasing importance of autonomous driving technologies in today’s world. With a strong customer base and strategic partnerships in place, Yu and Horizon Robotics are well-positioned to continue their growth and innovation in the autonomous driving market.
