ChatGPT craze helps some Chinese AI stocks soar as much as 60% in weeks

Chinese artificial intelligence stocks are surging as a wave of ChatGPT hype fans investor enthusiasm toward competitors.

Some AI stocks jumped more than 10% Wednesday, and are in the midst of a rally that has seen others increase their market value by more than half. Beijing Deep Glint Technology Co., a researcher of computer vision technology and big data analysis, surged more than 15% on the day, and is up more than 60% since the beginning of 2023.

Hanwang Technology Co., a manufacturer of pattern recognition technology, jumped more than 10% Wednesday, taking year-to-date gains above 43%. Facial recognition software firm CloudWalk Technology Co. rose more than 8%, with a 2023 gain of nearly 49%.

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