WeTrade (WETG) Stock Pops on Plans to Launch ‘DEMO’ ChatGPT

WeTrade (NASDAQ:WETG) stock opened higher by over 5% after the Chinese company announced that it has begun research on the use cases of ChatGPT-like technology and create a demonstration product similar to ChatGPT. WeTrade will also utilize content-generating technology like OpenAI into YCloud, a cloud intelligence system catered toward small businesses, and further integrate it with Baidu (NASDAQ:BIDU), WeChat and other programs to improve customer experience. The company did not disclose an exact date for the launch of the demo product.

“As the service provider that is substantially involved with China’s leading Internet companies, WeTrade Group will also integrate the AI technology into the company’s product line and assist the leading Internet companies in the implementation scenario and application promotion of ChatGPT-like products,” explained WeTrade.

WETG Stock: WeTrade to Launch Demo Product Similar to ChatGPT

WeTrade points out that ChatGPT had over 100 million monthly active users as of the end of January. This sets it on track to become the fastest-growing consumer application of all time. The company believes that the program will serve as “important infrastructure” for technology enterprise companies. Furthermore, the hope is that it will improve office and learning efficiency in the process.

WeTrade operates as a software-as-a-service (SaaS) company that provides digital transformation tools to a variety of industries. The company’s three main products are YCloud, WTPay and Y-Health. WTPay is an online payment processor that supports over “eight mainstream digital wallets” and serves over 100 countries. Y-Health is geared toward the healthcare industry. It is currently engaged in the detection and prevention of epidemics, traditional Chinese medicines, daily healthcare and more.

WeTrade announced earlier this month that it had established a branch in Xiamen, China, to support the development of the Green Planet Renren power plant. The project seeks to connect users of off-grid new energy equipment through a proprietary match-making platform. In the process, WeTrade will collect a service commission.

CEO Hechun Wei added:

“New energy power generation is clean, safe, and low cost, which is in line with the current ‘two-carbon‘ policy, and will also become an important industry in the global economic development. ‘Green Planet Renren Power Plant‘ project is the first project launched by the company in 2023, and will also be one of the most important projects of the company in 2023.”

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

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