The artificial intelligence boom has propelled Zhongji Innolight, a supplier to US hyperscalers, to become the largest constituent of China's CSI 300 stock benchmark, demonstrating AI's significant market influence.

The artificial intelligence frenzy has made Zhongji Innolight, a supplier of optical modules to US hyperscalers, the biggest constituent of China’s stock benchmark, highlighting AI’s profound impact on the world’s second-largest equity market. The northern Shandong province-based company had a 5 per cent weighting on the CSI 300 Index on Friday, making it the largest of the 300 most valuable stocks on the Shanghai and Shenzhen exchanges. The index’s weighting is based on the market...