What's Going On With Shares Of WiMi Hologram Cloud Monday?

WiMi Hologram Cloud Inc WIMI shares are trading higher Monday after the company announced the launch of AI applications based on AI open-source model DeepSeek.

What Happened: WiMi announced Monday that the company is developing a series of AI applications based on DeepSeek. WiMi aims to integrate DeepSeek’s capabilities to provide users with a more intelligent and personalized service experience.

In addition, WiMi said it will develop intelligent programming tools based on DeepSeek to provide programmers with a more intelligent and efficient coding experience. 

“As WiMi continues to advance the development of AI applications based on DeepSeek, we believe that in the near future, we will witness the emergence of more intelligent and convenient services, bringing greater convenience and surprises to people’s lives and work,” the company said.

WiMi shares were moving higher at last check on the news, while broader markets faced heavy selling pressure. The tech-heavy Nasdaq was leading markets lower in response to DeepSeek demonstrating high-performance AI computing at a low cost. 

DeepSeek rolled out a free AI assistant that it says uses lower-cost chips and less data than other leading models, according to Reuters. DeepSeek’s AI Assistant app also overtook OpenAI’s ChatGPT as the top-rated free app in Apple’s App Store on Monday.

See Also: DeepSeek Sparks AI Carnage As Magnificent Seven, Broadcom Lose Nearly $900 Billion In Value: Why This Expert Is Still ‘Bullish’ On US Tech

WIMI Price Action: WiMi Hologram Cloud shares were up 1.46% at $1.04 at the time of publication Monday, according to Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.