Xiaomi Shares Jump on AI Model Buzz, Upcoming SU7 Model Facelift – Bloomberg
A Xiaomi SU7Photographer: Na Bian/Bloomberg
By Bloomberg News
Xiaomi Corp. shares rallied Thursday after the company released its latest artificial intelligence models and as it prepared to launch a refreshed version of its SU7 electric vehicle.
The Hong Kong-listed stock jumped as much as 5.8%, making it the best performer on the Hang Seng Tech Index — which itself fell more than 2% after Tencent Holdings Ltd. earnings disappointed investors and as the war in Iran escalated. AI-fueled optimism adds to a recent recovery in Xiaomi shares following a 45% plunge, which had been driven by concerns that surging memory prices would erode its profitability.