We recently compiled a list of the Impressive Earnings, Fresh Deals Propel Prices of These 10 Firms. In this article, we are going to take a look at where Hesai Group (NASDAQ:HSAI) stands against the other stocks.

Wall Street’s main indices ended mixed on Thursday, with the Dow Jones the sole decliner, losing 0.28 percent.

In contrast, both the S&P 500 and the Nasdaq Composite registered gains, rising by 0.36 percent and 0.51 percent, respectively.

Amid the earnings season, 10 companies saw significant increases in their valuations, thanks to stronger-than-expected earnings reports. Additionally, several firms enjoyed rallies fueled by newly secured deals.

To come up with Thursday’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

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Hesai Group (NASDAQ:HSAI)

Shares of Hesai Group surged 21.02 percent on Thursday to end at $16.81 apiece as investors repositioned their portfolios amid optimistic business prospects, fueled by a series of clinched deals with international companies.

Last week alone, Hesai partnered with spatial AI software platform Outsight, and autonomous driving solutions Embotech AG, to deliver cutting-edge lidar technology and perception software for Embotech’s AVM technology deployed in BMW facilities and known internally at BMW as Automated Driving In-Plant (AFW).

Also last month, Hesai secured design wins for multiple Chery models, which are expected to enter mass production in the second half of 2025. Hesai said the new models will be equipped with the newest generation of Hesai’s ultra-compact high-performance ATX lidar.

Hesai Group is a China-based technology company specializing in the development of light detection and ranging (LiDAR) solutions.

Overall HSAI ranks 2nd on our list of Thursday's biggest advancers. While we acknowledge the potential of HSAI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HSAI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.