Baidu Shares Jump as Ernie Bot Progress Rekindles AI Bets – Bloomberg
Baidu Inc. shares jumped in Hong Kong following reports that it will soon launch a large-language model to power its ChatGPT-Like app Ernie Bot.
The shares rose as much as 6% before trimming as Chief Executive Officer Robin Li was cited as saying that the model will be used to upgrade its search engine. Other artificial intelligence stocks including SenseTime Group Inc. and Meitu Inc. gained at least 3% each.
Baidu shares have had a rough ride this year as a rally driven by the hype ahead of Ernie’s demo launch in March faltered on disappointment. The latest development, if successful, could add impetus to the shares and help the firm ride on a renewed global AI frenzy after Nvidia Corp.’s surprisingly strong revenue forecast.
READ: AI Chip Stocks Led by Nvidia Had a Banner Week: Tech Daily
“Investors have been waiting for an update on Ernie Bot. Also the AI frenzy has spread to China markets on Monday after Nvidia’s good results,” said Steven Leung, executive director at UOB Kay…
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source: https://news.oneseocompany.com/2023/05/28/baidu-shares-jump-as-ernie-bot-progress-rekindles-ai-bets-bloomberg_2023052845371.html
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