TOKYO -- A Japanese artificial intelligence startup that had its IPO last week has exceeded $1 billion in market capitalization, even though it has yet to build a solid earnings track record, in a sign that shows an overheating stock market.
On Wednesday, Tokyo-based Neural Pocket surged 21% to its daily limit of 8,600 yen. Its share price continued to rise in late afternoon proprietary trading, hitting a high of 10,900 yen.
