China warns of a fever to buy shares related to ChatGPT

The race is bringing a rush of investors to buy stocks related to artificial intelligence technology. Industry and technology companies have warned of the risks of investing in these stocks.

Many articles in financial and securities newspapers have warned about the exaggeration of excessive and artificial concepts by groups of investors to push up stock prices. The emergence of ChatGPT has fueled a wave of speculation in domestic AI technology stocks.

Illustration. (Source: Reuters)

Even Chinese companies that develop tools like ChatGPT have warned of the risks after the company’s share price surged.

Beijing Haitian Ruisheng Science Technology warned that the company’s products and services are for internal use only, do not generate revenue, and the company’s revenue dropped sharply last year. Some other companies believe that their ChatGPT-related technology is in its infancy and advise investors to exercise caution.

In the last 5 days alone, shares of 28 technology companies have increased by nearly 27%. Baidu shares also surged after the news of ChatGPT’s upcoming launch.

Search engine Baidu has announced in March that it will launch a chat bot tool similar to ChatGPT. And Alibaba Group is internally testing AI tools like ChatGPT, also contributing to heating up the market for technology stocks.

Investors continue to speculate in the stocks of AI-related technology companies, even though the stock has nothing to do with ChatGPT.