Yu Kai, an AI scientist and entrepreneur, has recently joined the billionaire ranks after shares of his startup, Horizon Robotics, surged almost 16% to a record high. Yu, who is the chairman and CEO of Horizon Robotics, is the company’s largest shareholder with a 13% stake, bringing his estimated net worth to just over $1 billion. The company, founded in 2015, develops software and hardware for assisted and autonomous driving systems, with their most advanced system called Horizon SuperDrive designed to achieve human-like autonomous driving in various scenarios.
Horizon Robotics went public in Hong Kong last week, raising HK$5.4 billion ($695 million) in the city’s largest initial public offering of the year. The company was co-founded by Yu Kai, ex-Baidu chief R&D architect Huang Chang, and associate director Tao Feiwen. Horizon Robotics’ systems offer features such as automatic emergency braking and parking assist, and they also license their proprietary algorithm and software to clients, including 27 carmakers such as Volkswagen, Hyundai Motor, and various Chinese car manufacturers. Additionally, the company is backed by prominent investors and strategic partners in the industry.
Before founding Horizon Robotics, Yu had already made a name for himself in academia, working on machine learning and AI technologies. He started his career at Baidu, where he established the Institute of Deep Learning and led initiatives in autonomous driving, laying the groundwork for Baidu’s Apollo Go robotaxi business. In 2015, Yu ventured out on his own with Horizon Robotics, initially facing challenges in finding the right applications for AI chips. However, the launch of their first assisted driving system equipped with their proprietary chip in 2019 proved to be a success, coinciding with China’s push for mass production of autonomous cars by 2025.
Horizon Robotics is among the autonomous driving tech companies that have recently gone public, joining the likes of Chinese robotaxi startup WeRide and Black Sesame, a company designing chips for self-driving systems. The company’s innovative approach to developing AI technologies for autonomous driving has caught the attention of investors and industry partners, solidifying its position in the rapidly evolving market. With Yu’s background in academia and experience in leading AI initiatives, Horizon Robotics is well-positioned to continue driving innovation in the autonomous driving sector and shaping the future of transportation technology.
Yu’s journey from academia to entrepreneurship showcases the intersection of research and industry in the field of AI and autonomous driving. His vision for developing AI chips with human-like capabilities has come to fruition with the success of Horizon Robotics and its cutting-edge technologies. As the company continues to grow and expand its partnerships with leading car manufacturers and investors, Yu’s influence in the autonomous driving sector is set to increase, further solidifying his position as a billionaire entrepreneur at the forefront of technological innovation.
