OpenAI Takes On China: Company Files Trademarks For Future AI Models
Portfolio Pulse from Neil Dennis
OpenAI, backed by Microsoft Corp. (NASDAQ:MSFT), has filed trademarks for 'GPT-6' and 'GPT-7' in China, indicating plans to enter the Chinese market. The filings cover scientific instruments and technological services. OpenAI is awaiting approval for three other trademarks in China, including 'GPT-4', 'GPT-5', and 'Whisper'. Despite this news, AI-focused ETFs such as Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ) and Invesco AI and Next Gen Software ETF (NYSE:IGPT) saw declines in their share prices. OpenAI's advancements in AI, with Microsoft's support, continue to push the boundaries of technology, while regulatory frameworks for AI are being considered globally.
December 04, 2023 | 6:00 pm
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NEGATIVE IMPACT
Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ) saw a 1.5% decline despite OpenAI's trademark filings in China.
The news of OpenAI's trademark filings in China did not have a positive impact on BOTZ, as the ETF experienced a decline in share price. This suggests that the market may have already priced in such expansion news or is reacting to other market factors.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Invesco AI and Next Gen Software ETF (NYSE:IGPT) dropped 2.5% on the day of OpenAI's trademark filings news in China.
Similar to BOTZ, IGPT's share price fell despite the potentially positive news of OpenAI's expansion efforts in China. This could indicate that the market is not yet convinced of the immediate benefits or is influenced by broader market trends.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Microsoft Corp. supports OpenAI, which has filed trademarks for 'GPT-6' and 'GPT-7' in China, potentially expanding its market presence.
Microsoft's backing of OpenAI's expansion into China through trademark filings for future AI models could lead to increased market opportunities and investor interest, potentially having a positive impact on MSFT's stock in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80