ChatGPT mania pumps up Chinese AI technology stocks

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SHANGHAI : Chinese artificial intelligence stocks are the latest rage in mainland markets as the global frenzy around the Microsoft-backed ChatGPT chatbot spurs speculative bets on the revolutionary computing technology.Just two months after its launch, ChatGPT - which can generate articles, essays, jokes

SHANGHAI : Chinese artificial intelligence stocks are the latest rage in mainland markets as the global frenzy around the Microsoft-backed ChatGPT chatbot spurs speculative bets on the revolutionary computing technology.

The CSI AI Industry Index, which includes larger capitalized companies such as iFlytek Co, is up about 17 per cent this year, outperforming the benchmark CSI300 Index's 6 per cent rise. Shares of Hanwang Technology, which makes products that enable intelligent interactions, jumped by their daily limit of 10 per cent for the seven sessions after markets reopened from the Lunar New Year holiday, boosting prices by more than 60 per cent so far in February.

Other companies that have disclosed their progress in AI technology include TRS Information Technology, and Beijing Haitian Ruisheng Science Technology Ltd. Their share prices have soared too.

Source: News Formal (newsformal.com)

 

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