The artificial intelligence (AI) race is far from over, with a number of under-the-radar companies continuing to see impressive price appreciation on AI-related announcements. Today’s big move in this regard belongs to Hanryu Holdings (NASDAQ:HRYU), a little-known South Korean social media company. Shares of HRYU stock are up more than 30% as of this writing after the company announced a partnership with Saltlux to develop a conversational, generative AI chatbot for its FANTOO social media app.
Hanryu announced plans to incorporate Saltlux’s AI-powered technology into its platform in a bid to provide virtual assistance to users of its fandom application. This is a notable announcement, considering Saltlux’s positioning in the AI market in South Korea. Sources covering this announcement cite Saltlux’s portfolio of AI patents as a key component of the deal.
With so many companies seeking value-added AI integrations, these sorts of announcements can often go over the heads of investors. That said, today’s move in HRYU stock indicates that the market believes there could be some real accretive value coming out of this deal.
HRYU Stock Surges on Key AI Announcement
Hanryu is an intriguing company to consider in terms of how this social media organization has chosen to position itself. The company provides a “global multi-media platform for our users to interact with other like-minded users, to share their appreciation of various types of entertainment and cultures, create their own content, enjoy other users’ content, engage in commerce, and experience a ‘fandom’ community we believe is unlike any other.”
Thus, this so-called fandom app aims to create high levels of engagement among niche user groups, supporting their appreciation of “various types of entertainment and cultures.” The launch of a generative AI chatbot within such a platform could certainly unlock value. Although, to be fair, I’m not a user.
Still, investors who are more familiar with this app appear to be voting with their dollars today. This is a stock I think is intriguing and one I’ve earmarked for more research. Social media investors may want to earmark HRYU stock as well, as this isn’t some garden variety move today.
On the date of publication, Chris MacDonald 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.
