Anant Raj shares nosedive nearly 20% amid global fears of low-cost AI models
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Shares of Anant Raj slumped as low as 19.75% to an intraday low of Rs 536.05 on the BSE on Tuesday, January 28 amid a global sell-off being witnessed in technology stocks amid fears of the emergence of a low-cost Chinese artificial intelligence model. Anant Raj, primarily a player in the real estate market, has also diversified into data center services through its subsidiary, Anant Raj Cloud, offering secure, reliable, and scalable solutions tailored to various business needs. Anant Raj Cloud has been actively expanding its offerings in the artificial intelligence (AI) segment. In July 2024, the company announced a collaboration with Google to develop AI-infused solutions aimed at enhancing infrastructure, productivity, and security. Now, the emergence of a low-cost Chinese artificial intelligence model stands to threaten the dominance of current AI players across the globe. Last week, Chinese startup DeepSeek launched a free AI assistan...