Baidu Stock Surges on Plan for A.I bot
Baidu said it would roll out a ChatGPT-like bot as early as next month!
Baidu shares surged Tuesday, after the Chinese search-engine operator said it would roll out a ChatGPT-like robot next month.
Baidu shares surged after the Chinese search-engine operator said it would roll out a ChatGPT-like robot next month.
The stock has jumped 45% in Hong Kong this year, including a 15% gain Tuesday (today)#AI #ChatGPT #Baidu pic.twitter.com/FVkG13M1lH
— The_Journalbiz (@the_journalbiz) February 7, 2023
Bloomberg chart on Baidu
The stock has jumped 45% in Hong Kong this year, including a 15% gain Tuesday after China’s largest search engine said it will unveil its artificial intelligence chatbot in March
Nasdaq-listed American depositary receipts in Baidu recently stood more than 13% higher in premarket trading, mirroring a surge in the company’s Hong Kong-listed stock.
By developing its own artificial-intelligence-powered chatbot, the “Ernie bot”, Baidu joins the global race to commercialize AI, competing with other technology giants including Google.
Baidu planned to release an AI-powered chatbot and integrate it into its search engine in March.
The move would place Beijing-based Baidu among a few tech companies globally to have its own version of the technology, which has generated buzz among consumers and businesses, and placed pressure on incumbents, which have started to update their product-development strategies.
WSJ reported on Baidu’s plans. Baidu, whose growth hasn’t kept up with that of its Chinese internet peers, has been pushing to refashion itself into an AI company, investing billions of dollars in technologies including self-driving cars and chips designed to power AI applications.
Baidu is set to be the first to bring the technology to consumers in China, where the state censors the internet and access to ChatGPT is blocked.
The stock has risen 45% this year, compared with roughly 20% gains for the Chinese tech heavyweights Alibaba and Tencent.
