The company said it expects a roughly 50% slump in 2022 net profit, and admonished investors to be cautious as its valuation is currently much higher than the industry average. 360 Security Technology Co Inc , in response to regulators' queries, said its self-developed ChatGPT-related technology is still at a nascent stage and is used only internally as a productivity tool. It is uncertain about when it can market ChatGPT-style products, and how effective they will be, so "we advise investors to pay attention to market trading risks, decide rationally, and invest cautiously." Among deep-pocketed Chinese firms joining the latest chatbot race, e-commerce leader Alibaba Group Holding Ltd on Wednesday said it is developing a ChatGPT-style tool, while rival JD.com Inc said it aims to integrate ChatGPT-like technology into some products. Gaming major NetEase Inc plans to deploy similar "large language model" technology in its education business, a person familiar with the matter told Reuters. (Reporting by Samuel Shen, Jason Xue and Brenda Goh; Editing by Anne Marie Roantree and Christopher Cushing)
Messaging: samuel.shen.thomsonreuters.com@reuters.net)) (Adds AI share price moves, Google stock plunge, major Chinese
firms' chatbot efforts)
SHANGHAI, Feb 9 (Reuters) - Chinese state media on
Thursday cautioned against risks in chasing local
ChatGPT-concept stocks, while domestic artificial intelligence
(AI) companies urged investors to be rational after their
soaring share prices caught regulators' attention.
ChatGPT, a chatbot developed by U.S. firm OpenAI and backed
by Microsoft Corp , gives strikingly human-like
responses to user queries. Frenzy around the technology launched
at November-end has seen shares of Beijing Haitian Ruisheng
Science Technology Ltd soar 217% this year.
Hanwang Technology Co Ltd has risen as much as
129% as of Wednesday, CloudWalk Technology Co Ltd 128% and TRS Information Technology Co Ltd 66%.
The stocks retreated on Thursday after the state media
warning as well as a slump in Alphabet Inc shares that
wiped out $100 billion in market value after the Google parent's
ChatGPT rival shared inaccurate information. In a front-page editorial, the Securities Times highlighted
several technological concepts that previously 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 should not follow."
Companies developing ChatGPT-like concepts have also flagged
risks at the request of regulators after their prices shot up
amid intense interest in generative AI - technology that can
generate new data and media such as text and images.
Beijing Haitian Ruisheng Science Technology said its
ChatGPT-style products and services do not yet generate revenue,
and that it has no relationship with OpenAI.
Though such technology "is on a long-term uptrend, we need
to analyse its speed of growth, and effect, in a cool-headed
way," it said in a filing in response to queries from the
Shanghai Stock Exchange.
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