Baidu's AI Chatbot Ernie Surpasses 100M Users, Giving OpenAI A Run For Its Money
Portfolio Pulse from Benzinga Neuro
Baidu Inc. (NASDAQ:BIDU) announced that its AI chatbot, Ernie, has surpassed 100 million users. Following the announcement, Baidu's shares increased by 3% in U.S. trading. Ernie bot, which supports English and Chinese, competes with OpenAI's ChatGPT. Baidu has started charging a monthly subscription for the advanced version of Ernie bot. Goldman Sachs analyst Lincoln Kong maintains a Buy rating on Baidu, citing its AI focus as a driver for stable margins and revenue growth.
December 29, 2023 | 11:57 am
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POSITIVE IMPACT
Baidu's Ernie chatbot surpassing 100 million users is a positive indicator of the company's AI product adoption, potentially boosting investor confidence and contributing to a 3% stock price increase.
The milestone of 100 million users for Baidu's Ernie chatbot suggests a successful adoption rate, which is likely to be viewed positively by investors. The immediate 3% rise in stock price post-announcement indicates market optimism. Analyst endorsement from Goldman Sachs further supports the positive outlook, suggesting that Baidu's AI focus could lead to stable financial performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100