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China AI Stocks Sink on Call for State to Stem Bubble Risk

  • Improved monitoring needed to curb speculation: Economic Daily
  • Shares have surged in China after ChatGPT was unveiled
A screen shows an augmented reality application at the SenseTime Group headquarters in Shanghai.

A screen shows an augmented reality application at the SenseTime Group headquarters in Shanghai.

Photographer: Qilai Shen/Bloomberg
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Chinese shares related to artificial intelligence plunged after a state media outlet urged authorities to step up supervision of potential speculation. 

The ChatGPT concept sector has “signs of a valuation bubble,” with many companies having made little progress in developing the technology, the Economic Daily wrote in a commentary Monday.