ChatGPT mania gives a fillip to Chinese AI stocks

ChatGPT logo and rising stock graph are seen in this illustration. Picture: DADO RUVIC/REUTERS

While ChatGPT is not accessible in China, mainland investors are still pumping up the shares of AI technology companies such as Hanwang Technology, TRS Information Technology and Cloudwalk Technology. “The industry as a whole tends to first speculate on expectations before only later trading on actual results,” said Zhang Kexing, GM of Beijing Gelei Asset Management.

Cloudwalk shares retreated 5.5% on Tuesday, but have nearly doubled in the seven trading days since the lunar new year holidays. On Tuesday, the company cautioned investors, saying its losses have deepened in 2022, it has not co-operated with OpenAI, and has generated no revenues from ChatGPT-related services and products.

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