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

Chinese state media cautioned against risks in chasing ChatGPT-concept stocks, while artificial intelligence (AI) companies urged investors to be rational after their soaring share prices caught regulators’ attention.

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, Hanwang Technology Co Ltd and CloudWalk Technology Co Ltd.

ChatGPT, developed by OpenAI and backed by Microsoft Corp , gives strikingly human-like responses to user queries.