iQiyi Inc. (IQ), the Chinese video streaming platform, saw its shares surge 5.05% in pre-market trading on Friday, carried by the bullish wave lifting Chinese tech stocks lately.
The rally was fueled by a combination of factors, including strong earnings from tech giants like Alibaba and Bilibili, which boosted investor sentiment towards the sector. Additionally, Beijing's perceived shift towards a more supportive stance for private enterprises and the meteoric rise of domestic AI startup DeepSeek have sparked renewed optimism about the growth prospects of Chinese internet firms.
Notably, iQiyi itself raised $350 million through a convertible bond offering this week, highlighting the robust investor demand for Chinese tech companies amid expectations of regulatory easing and better fundraising conditions offshore. Analysts suggest that the upcoming DeepSeek-led AI wave and potential policy tailwinds could further propel Chinese tech shares in the near future.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.