Research on the Mechanism between Public Opinion Transmission and Capital Market Response of Artificial Intelligence Technology Innovation Events: A Multilevel Network Analysis Study

In the contemporary flourishing digital economy, advancements in artificial intelligence are incessantly reconfiguring the capital market landscape. This study commences with the industry perturbation instigated by the DeepSeek large - model to explore the interactive mechanisms between financial public opinion and capital markets during technological innovation events. Through the comprehensive utilization of methods such as literature review, case analysis, social network analysis, and regression analysis, and drawing on 12,329 Weibo public opinion data points and high - frequency trading data from 16 A - share DeepSeek concept stocks, a novel “technology decoding – market response” dual - path model is constructed. The study reveals that technology - related public opinion gradually infiltrates the financial domain via a three - stage progression: “professional decoding – industry restructuring – investment decision - making.” Technology bloggers assume a pivotal role in information dissemination, as evidenced by an intermediary centrality of 0.29. The data further indicate that for each one - standard - deviation increment in public opinion intensity, the excess return of concept stocks surges by 1.8% after 36 hours (p = 0.03), whereas the impact of sentiment polarity on stock prices is not statistically significant (β = 0.04, p = 0.41).Adopting an integrated perspective from journalism and behavioral finance, this research elucidates the propagation patterns of technology - related public opinion and its inherent connections with capital markets, and it formulates a “technology–finance” public opinion governance framework. These findings provide crucial theoretical underpinnings and practical guidelines for the prevention of financial risks associated with technology - related public opinion, thereby having far - reaching implications for optimizing financial market regulation and enhancing public opinion management systems.