Baidu shares drop to 8-week lows after company reveals ChatGPT rival
Publishing timestamp: 2023-03-16 07:37:02
Summary
Chinese tech company Baidu has unveiled its Chinese-language chatbot alternative, Ernie bot, which is not perfect but will improve through user feedback. Baidu is prioritizing initial access for 650 ecosystem business partners, including media companies, banks, and car firms. Within an hour of the announcement, 30,000 corporate clients had joined the waitlist for access. Baidu's CEO emphasized that the AI model is trained on a set of 550 billion facts and that the technology is not meant to highlight the rivalry between the US and China. The article also mentions Microsoft-backed OpenAI's latest version of its artificial intelligence technology, GPT-4, which can beat 90% of humans on the SAT exam.
Sentiment: NEUTRAL
Tickers: MSFT, 9888-HK, BIDU, IQ,
Keywords: baidu inc, technology, breaking news: technology, stock markets, business news, markets, iqiyi inc, market insider, breaking news: asia,
Source: https://www.cnbc.com/2023/03/16/baidu-shares-drop-after-chatgpt-ernie-bot-reveal.html