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
with plans to complete testing of its "Ernie bot" in March. Its shares surged more than 13% on Tuesday after making the announcement.
Shares of Hanwang Technology, which makes products that enable intelligent interactions, jumped by their daily limit of 10% for the seven sessions after markets reopened from the Lunar New Year holiday, boosting prices by more than 60% so far in February. Cloudwalk shares have more than doubled in the seven trading days since the Lunar New Year holidays. On Tuesday, the company cautioned investors, saying its losses deepened in 2022, it has not cooperated with OpenAI, and has generated no revenues from ChatGPT-related services and products.
Retail investor Lu Deyong has purchased shares in TRS and iFlytek and is seeking to profit from the ChatGPT hype.
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