[Apha Biz=(Chicago) Reporter Paul Lee] Naver's self-developed artificial intelligence (AI) "HyperClova X" plunged a day after its release.
This is the result of a flurry of harsh criticism of HyperCLOVA X around the online community. However, securities firms valued AI's growth potential and raised their target stock prices.
Naver closed at 211,000 won on the 25th, down 7.86% from the stock market. After releasing the HyperCLOVA X the previous day, it surged 6.26%, but returned all of the gains in a day. In the aftermath, Naver, which ranked ninth in KOSPI market capitalization (excluding Samsung Electronics preferred stocks), fell one notch to 10th place on the day, falling behind POSCO FutureM.
Negative reactions to HyperCLOVA X from YouTube and online stock discussion rooms affected investor sentiment.
Earlier, large tech stocks such as Apple, Microsoft, Alphabet, and Meta all fell more than 2% on the New York Stock Exchange, which adversely affected stock prices.
Samsung Securities raised Naver's target price by 10.7% from 280,000 won to 310,000 won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
