HK Stock Market Move | PATEO (02889) rises nearly 10% in early trading, joining hands with NVIDIA to lay out the future of intelligent travel. The AI Box is heading towards commercialization and implementation.

PATEO (02889) rose nearly 10% in early trading, as of the close, it was up 7.16%, at HKD 215.6, with a turnover of HKD 581.677 million. In terms of news, on May 29, PATEO announced that the company held a strategic cooperation signing ceremony and related exchange activities with NVIDIA in the United States. The two parties had constructive discussions on advanced fields such as in-car AI, autonomous driving, next-generation computing platforms, and optical communication, and look forward to leveraging their respective strengths in exploring and deepening potential cooperation opportunities in the future. It is worth noting that PATEO recently disclosed that its first-quarter operating income increased by more than 100% year-on-year, and its operating profit margin also improved significantly year-on-year. The most forward-looking information in the announcement comes from the AI business. The AI Box solution developed based on the NVIDIA DRIVE AGX Thor acceleration computing platform has obtained a mass production point for a new generation of intelligent models from a leading OEM new energy vehicle company, marking the official commercialization of the AI Box from technical verification. At the same time, the company is actively exploring innovative business models such as computing power fees and in-car token billing.