WiMi Hologram Cloud Shares Surge on AI Applications Launch

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) shares are trading higher Monday after the company announced the launch of AI applications based on the AI open-source model DeepSeek. The stock was up 1.46% at last check, 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.

WiMi's AI applications based on DeepSeek aim to provide users with a more intelligent and personalized service experience. The company also plans to develop intelligent programming tools based on DeepSeek to provide programmers with a more intelligent and efficient coding experience.

WiMi Hologram Cloud Inc. is a leading global Hologram Augmented Reality (AR) Technology provider, focusing on computer vision holographic cloud services. The company operates in three segments: AR Advertising Services, AR Entertainment, and Semiconductor Related Products and Services.



WiMi's recent earnings report for the full year ended December 31, 2023, showed revenue of CNY 585.37 million, a decrease of -14.21% compared to the previous year's CNY 682.29 million. Net loss was CNY 421.19 million, 17.7% more than in 2022. Basic loss per share from continuing operations was CNY 4.82 compared to CNY 4.16 a year ago.

Despite the recent decline in revenue, WiMi's focus on AI and its integration of DeepSeek could drive long-term growth and increase its valuation. As WiMi's AI applications gain traction and attract more users, the company's revenue and earnings are likely to grow, leading to an increase in its stock price and market capitalization.



In conclusion, WiMi Hologram Cloud's AI applications based on DeepSeek have driven the company's share price higher on Monday. While broader markets face heavy selling pressure, WiMi's focus on AI and its integration of DeepSeek could drive long-term growth and increase its valuation. Investors should monitor the company's progress and consider its growth prospects as AI applications gain traction and attract more users.