Shares of Chinese companies related to artificial intelligence are showing the strongest growth in recent months. The new rally was triggered by the growing popularity of the ChatGPT neural network. About it writes Bloomberg.

Quotes of Beijing-based Deep Glint Technology (SS:688207) have added more than 15% since the opening of trading on Wednesday, and over the last month – more than 60%. Shares of Hanwang Technology (SZ:002362) have gained 40% over the same period, outperforming the benchmark CSI 300 index by 7%.

The stock’s rise reflects heightened interest in the topic of artificial intelligence. The buzz around AI was sparked by research lab OpenAI, which released the ChatGPT chatbot in November 2022, which almost instantly gained popularity on the internet. According to Huatai Securities USA, Chinese search giant Baidu (NASDAQ:BIDU) now plans to launch a similar technology, which has fueled an influx of funds into the industry.

“In China, one of the countries most actively promoting the ChatGPT concept, many large companies are preparing to launch similar products,” said Shen Meng, director of Chanson & Co in Beijing.

The rally could end quickly if it is not backed by significant progress on the business side, he said.

OpenAI, a company co-founded by Ilon Musk, introduced a universal chatbot ChatGPT in November 2022, RBC writes. The chatbot is capable of dialog, searching for errors in code, composing poetry, writing scripts, challenging incorrect assumptions and rejecting inappropriate requests.

The startup’s value has more than doubled since 2021, from $14 billion to $29 billion, according to Semafor data. In January, Microsoft Corporation (NASDAQ:MSFT) said it was investing billions in OpenAI. According to Bloomberg, the investment could be as much as $10 billion over the next few years. Microsoft has already invested $1 billion in the startup in 2019, with another similar amount to be invested in 2021.