Why Hesai Group (HSAI) Soared Last Week

We recently published a list of These 10 Firms Soared Last Week, Here’s Why. In this article, we are going to take a look at where Hesai Group (NASDAQ:HSAI) stands against other firms that soared last week.

The past trading week saw a more calm, generally optimistic, market environment amid the temporary pause in tit-for-tat tariffs, buoyed further by a flurry of corporate earnings for the first quarter of the year.

On a week-on-week basis, the tech-heavy Nasdaq rallied the most, up 3.4 percent, followed by the Dow Jones with 3 percent, and the S&P 500 by 2.9 percent.

Beyond the major indices, 10 firms stood out, booking double-digit gains as high as 48 percent, thanks to better-than-expected earnings and outlook.

In this article, we name this week’s 10 best-performing mid-cap companies and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume. The stocks were chosen based on the highest percentage increase in closing prices on May 2 as against their prices a week earlier, or on April 25.

Logistics robots filling packages in a warehouse, preparing for delivery.

Hesai Group (NASDAQ:HSAI)

Hesai Group surged by 19.5 percent week-on-week to end Friday’s session at $18.29 versus the $15.30 close a week earlier, as investors gobbled up shares in the company following news that it was aggressively expanding its production by fourfold this year.

Last week, Hesai Group (NASDAQ:HSAI) founder and CEO David Li Yifan said that the company will expand its manufacturing capacity to 2 million units this year from 502,000 units last year to keep up with the strong demand for its products used in driver-assistance systems in cars.

“We can guarantee capacity expansion to 2 million units within a few months,” he was quoted as saying at a media briefing. “Supply chain will not be an issue. For us, it is just a matter of building more facilities.”

In other news, Hesai Group (NASDAQ:HSAI) recently launched the Infinity Eye, a lidar solution for level 2 to 4 autonomous driving.

According to the company, the new technology includes three configurations—Infinity Eye A, B, and C—each tailored to meet the specific requirements of L4+ high-level autonomous systems, L3 conditional autonomous driving, and L2 assisted driving, respectively.

Overall, HSAI ranks 4th on our list of firms that soared last week. While we acknowledge the potential of HSAI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HSAI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.