(Yicai Global) May 10 -- Simei Media’s shares surged by the exchange-imposed daily trading limit after the Chinese marketing services provider said it is joining forces with an artificial intelligence startup to promote the commercial application of AI in the media domain.

Simei Media [SHE: 002712] shot up 10 percent to finish at CNY9.89 (USD1.43) a share in Shenzhen today. The stock has almost doubled in value so far this year.

Simei Media will work with Beijing Zhipu Huazhang Technology on training the latter’s AI model for use in the media and elsewhere to create novels, news, and financial reviews, the Hangzhou-based company announced late yesterday.

Zhipu Huazhang’s AI model was developed based on advances made by Tsinghua University’s computer science department, it added.

Simei Media has amassed huge resources and data in digital marketing, digital reading, and video content, as well as many high-quality clients in the auto, consumer goods, culture and tourism, and internet sectors, which can provide an array of application scenarios for AI commercialization, the firm said.

Editor: Futura Costaglione