iFlytek Jumps by Daily Limit as AI Arouses Investor Interest

What’s new: Shares of Chinese artificial intelligence (AI) specialist iFlytek Co. Ltd. (002230.SZ) climbed 10% on the first day of trading after the weeklong holiday as chatbot ChatGPT reignited investor interest in the space despite the company’s recent profit warning.

iFlytek’s stock rose to the daily limit to 41.67 yuan ($6.17) a share in Shenzhen on Monday, a day after it disclosed in an exchange filing that its 2022 profit suffered a 60% to 70% drop.