A Chinese paper finds ChatGPT — not DeepSeek — can generate stock-market returns. But the key insight doesn’t have anything to do with AI.

A new research paper produced in China finds that ChatGPT — and not domestic rival DeepSeek — can be used to forecast the stock market and the economy.

[The paper was produced by four researchers](https://arxiv.org/pdf/2502.10008), three at Chinese universities and one at the Washington University in St. Louis.

[https://www.marketwatch.com/story/a-chinese-paper-finds-chatgpt-not-deepseek-can-generate-stock-market-returns-but-the-key-insight-doesnt-have-anything-to-do-with-ai-ae3c9e5f](https://www.marketwatch.com/story/a-chinese-paper-finds-chatgpt-not-deepseek-can-generate-stock-market-returns-but-the-key-insight-doesnt-have-anything-to-do-with-ai-ae3c9e5f)