- Companies playing in the artificial intelligence market put in a mixed performance as trading progressed Wednesday, with Baidu ( NASDAQ: BIDU ) among the decliners following its broad AI chatbot plans.
- Baidu ( BIDU ) shares gave up more than 3% after the Chinese Internet search kingpin said it would "fully integrate" its conversational AI chatbot across all of its business operations. Baidu ( BIDU ) Chief Executive Robin Li said the bot, called ERNIE will be integrated into company operations such as search and AI Cloud."
- Baidu's ( BIDU ) decline also came along with the company reporting upbeat fourth-quarter results and announcing a $6B stock buyback plan.
- Along with Baidu ( BIDU ), other AI-related stocks in the red included BigBear.ai Holdings ( BBAI ), down by 2.4%. Microsoft ( MSFT ), Alphabet ( GOOG ) and Meta Platforms ( META ), all of which are throwing their weight into AI technology, slipped just below their breakeven points.
- Meanwhile, and SoundHound AI ( SOUN ) was up by nearly 4% and C3.ai ( NYSE: AI ) shares rose 1.5%.
- On Tuesday, C3.ai ( AI ) said it had reached an expansion of its agreement with Amazon Web Services to integrate more AI applications with AWS offerings.
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AI stocks show some momentum following Baidu's new chatbot plans