Shares of Chinese AI companies soar after Huang joins Trump delegation
Shares of Chinese AI companies rose sharply amid Huang's visit to Beijing / Photo: Nvidia
Shares of two Chinese developers of AI models rose sharply after it became known about the participation of Nvidia head Jensen Huang in the delegation of US President Donald Trump during his visit to China. Investors began to assess the potential benefits of China's possible access to Nvidia's H200 chips, Bloomberg writes.
MiniMax and Zhipu AI (officially Knowledge Atlas Technology) were up 18% and 38%, respectively.
"Shares of Zhipu and MiniMax appear to be rising on news that Jensen Huang has joined Trump's visit to China. This increases the likelihood that Chinese developers of large language models will be able to get access to more advanced Nvidia chips," said Jian Shi Cortesi, a fund manager at GAM Investments. Investors are now primarily interested in anything related to AI, he added.
Nvidia shares were adding 2.2% at the premarket on May 13.
Context
Nvidia CEO Jensen Huang joined Trump's trip to China at the last minute, bringing the topic of AI and technology into the spotlight ahead of an important summit in Beijing, Bloomberg notes.
Huang was not initially among the businessmen invited to travel with Trump. The delegation included, among others, Tesla CEO Elon Musk, Apple CEO Tim Cook and Qualcomm CEO Cristiano Amon. The absence of the head of Nvidia was actively discussed in the media: experts attributed it to internal disputes in the United States about whether China should be allowed access to advanced American chips, notes Bloomberg.
This article was AI-translated and verified by a human editor
