Chinese state media, AI companies warn of risks in ChatGPT stock frenzy [Reuters]
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Source: Reuters
Frenzy around the ChatGPT chatbot has spurred speculative bets in China's stock market, pumping up AI firms such as TRS Information Technology Co Ltd (300229.SZ) , Hanwang Technology Co Ltd (002362.SZ) and CloudWalk Technology Co Ltd (688327.SS) ChatGPT, developed by OpenAI and backed by Microsoft Corp (MSFT.O) , gives strikingly human-like responses to user queries. The Securities Times in a front-page editorial highlighted several technological concepts that spurred stock buying in China, such as fifth-generation telecommunications networks (5G), augmented reality (AR), virtual reality (VR) and anti-virus garments - the excitement for which has died down. Though some hotly chased concepts have been successful, "many more new ideas haven't been commercialised, or require more time to prove," the state-backed newspaper said. "However, some people avidly speculate on fake concepts, luring others into schemes of pumps and dumps. Investors eventually end up in tears so they shou
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