TECH - Baidu Stock Plummets In Biggest Drop Since 2022 Amid Reports Linking Ernie To PLA AI | Benzinga
In the wake of reports linking its AI platform, Ernie, to Chinese military research, Baidu Inc (NASDAQ:BIDU) has experienced its most severe drop in over a year.
What Happened: Baidu’s Hong Kong-listed shares sank by more than 10% on Monday, compounding losses from U.S. trading the previous week. The decline follows a South China Morning Post article revealing a purported “physical link” between Baidu's Ernie and the People's Liberation Army's (PLA) AI platform, according to a Bloomberg report.
The fear is that these revelations could spark sanctions from Washington in an attempt to curb China’s growing clout. The exact nature of the supposed connection to Baidu remains uncertain.
"People are worried about sanctions on Baidu obviously after the news report about military ties. They fear that the US government may announce measures to target Baidu. The company hasn't clarified either after the news," ...