Shares of Chinese artificial intelligence (AI) development companies surged after Nvidia CEO Jensen Huang reportedly joined US President Donald Trump's visit to Beijing.
The development sparked speculation that Chinese AI companies could potentially gain greater access to Nvidia's AI chips.
Shares of MiniMax Group Inc. rose around 18%, while Knowledge Atlas Technology Joint Stock Co. or Zhipu jumped as much as 38% following the news.
Huang's presence in the delegation's visit was also seen as a sign that the AI sector is a key focus in high-profile talks between Washington and Beijing.
The market is now assessing the possibility that China will gain access to Nvidia's more advanced H200 chips to support the development of local large language models (LLMs).
The sentiment has driven investor interest in AI-related stocks that are seen as having significant growth potential in the near term.
Market analysts also see AI momentum remaining a major global investment theme at the moment, with any developments related to Nvidia or AI technology continuing to attract the attention of traders and institutional investors.
