ChatGPT Buzz Drives Buying Frenzy in China’s AI-Related Stocks
- Artificial intelligence stocks soar after lagging benchmark
- Some companies have weak financials despite share rally
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The global hype around the ChatGPT tool has reached China’s stock market, igniting eye-popping rallies in artificial intelligence-related shares following months of lackluster performance.
Beijing Deep Glint Technology Co. soared as much as 16% Wednesday, taking its 2023 gains to over 60%. Hanwang Technology Co. has jumped more than 40% during the period, by far beating the 7% advance in the benchmark CSI 300 Index.