Dear clients,
Shares of Chinese AI makers have been causing a stir in mainland markets of late as the global buzz around chatbot ChatGPT fuels speculative bets on the revolutionary computing technology.
Just two months after launching, ChatGPT, which can generate articles, essays, jokes and even poetry in response to requests, has been voted the fastest growing consumer app in history.
Although ChatGPT is not available in China, mainland investors are still pumping up shares of AI technology companies.
However, at the moment there are no signs that these companies are ready to release a product like ChatGPT. The closest seems to be search giant Baidu Inc, which plans to complete testing of its „Ernie bot“ in March. Their shares rose more than 13% on Tuesday after the announcement.
„The industry as a whole tends to speculate on expectations first and then trade on the actual results,“ said analysts at Beijing Gelei Asset Management.
The new trend has not gone unnoticed among tech giants. Thus, the owner of Google, Alphabet Inc. announced planning its own chatbot service and increasing the amount of artificial intelligence in its search engine. Microsoft, meanwhile, said it had scheduled its AI presentation for Tuesday.
