Fanxi Intelligence fell six points, SenseTime fell four to five points, these two Hong Kong-listed AI software stocks led the declines today; Kingsoft and DeepTech both fell one or two points 🙈
The profit paths for China's large language models and enterprise AI applications are still in their early stages. Today, with overall pressure on RMB assets and capital outflow from Chinese concept stocks, high-beta small-cap AI stocks were the first to be sold off. When they rise, it's on the back of AI's imagination; when they fall, there's no near-term performance to support the price.
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