Abstract
ChatGPT, an artificial intelligence bot, has recently been launched and has attracted a lot of attention from all over the world. Investors in the market have also been paying attention to ChatGPT, a new artificial intelligence robot. At the same time, many people in academia have also started to study the impact of the emergence of ChatGPT on the stock prices of AI listed companies. In this paper, we study the impact of ChatGPT emergence on the stock price volatility of two AI listed companies by selecting two AI listed companies for analysis, namely, KDDI and CloudTech. The event window period selected for analysis in this paper is 20 days.And the excess cumulative returns of the two companies are compared and analyzed through the time period before and after the ChatGPT event. The results of the analysis show that the excess return of ChatGPT on both companies is positive, which indicates that the emergence of ChatGPT has a positive effect on the share prices of both KDDI and CloudFocus. It shows that the emergence of ChatGPT has a positive impact on the stock prices of AI companies in China.
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