China's SMIC stock hits record high on DeepSeek AI optimism By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 06 2025
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Should l Buy ?
Source: Investing.com
SMIC Stock Surge: Shares of Semiconductor Manufacturing International Corp (SMIC) reached a record high due to the success of China's AI sector, particularly driven by the advancements of AI startup DeepSeek, which has developed a cost-effective AI model that operates on less advanced hardware.
DeepSeek's Expansion: DeepSeek is rapidly expanding its workforce by offering competitive salaries to attract top talent in AI, with major cloud service providers integrating its models into their platforms, contributing to a positive outlook for the Chinese tech industry despite external trade challenges.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
