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Chinese state media, AI companies warn of risks in ChatGPT stock frenzy | – #Chinese #state #media #companies #warn #risks #ChatGPT #stock #frenzy

SHANGHAI, Feb 9 (Reuters) – Chinese state media on Thursday warned against risks in pursuing ChatGPT-concept stocks, with artificial intelligence (AI) companies the focus of regulators. prices urged investors to be rational.

The frenzy around the ChatGPT chatbot boosted AI companies such as TRS Information Technology Co Ltd ( 300229.SZ ), Hanwang Technology Co Ltd ( 002362.SZ ) and CloudWalk Technology Co Ltd ( 688327.SS ), fueling speculative bets in the Chinese stock market. .

Developed by OpenAI and backed by Microsoft Corp ( MSFT.O ), ChatGPT provides remarkably human-like responses to user queries.

In a front-page editorial, The Securities Times highlighted several tech concepts driving stock buying in China, such as fifth-generation telecommunications networks (5G), augmented reality (AR), virtual reality (VR) and antivirus outfits. he died for it.

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While some hotly-pursued concepts are successful, “most new ideas are not commercialized or take longer to prove,” says the state-backed newspaper noted.

“However, some people willingly speculate on bogus concepts, drawing others into pump and dump schemes. Investors end up in tears, so don’t follow them.”

Companies developing concepts like ChatGPT come amid growing interest in generative artificial intelligence – technology that can create new data and media such as text and images prices after taking off, they noted the risks at the request of regulators.

Beijing Haitian Ruisheng Science Technology Ltd ( 688787.SS ) said its ChatGPT-style products and services were not yet profitable and had nothing to do with OpenAI.

He said in response to a request from the Shanghai Stock Exchange that such a technology “is in a long-term uptrend, but we should coolly analyze its growth rate and impact.”

The company said it expects net profit to decline by about 50% in 2022 and advised investors to be cautious as its valuation is currently well above the industry average.

360 Security Technology Co Inc ( 601360.SS ) said in response to requests from regulators that its ChatGPT-related technology, which it developed, was still in the early stages of development and was used only internally as a productivity tool.

It is uncertain when ChatGPT-type products will be available on the market and how effective they will be, so “we advise investors to pay attention to market trading risks, make rational decisions and invest with caution.”

Reporting by Samuel Shen and Brenda Goh; Edited by Christopher Cushing

Our standards: Thomson Reuters Trust Principles.

2023-02-09 06:37:30
Source – reuters

Translation“24 HOURS”



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