Chinese investors cheer Tesla’s AI chip progress, pushing up shares of local suppliers

Chinese suppliers of parts for Tesla’s electric vehicles (EVs) and robots saw their stock prices gain on Thursday morning as the US tech giant announced that its AI5 artificial intelligence inference chip was 45 days ahead of schedule. After a nearly 7.7 per cent jump in Tesla’s Nasdaq-listed stock on Wednesday, shares of the company’s Chinese suppliers were up by as much as 4.6 per cent on Thursday morning local time. Shanghai-listed Ningbo Tuopu Group and Shenzhen-listed Zhejiang Sanhua...

By Coco Feng