2023-04-10 16:07:07 ET
- Baidu ( NASDAQ: BIDU ) shares fell more than 4% Monday as the Chinese Internet search giant was bruised again in the wake of its recent stumbles in the artificial intelligence market.
- Alibaba ( BABA ), one of Baidu's ( BIDU ) top competitors, on Monday sent out invitations to some corporate customers to try out its new large language model, which Alibaba ( BABA ) is attempting to position as an AI alternative to OpenAI's ChatGPT. OpenAI is financially backed, and technologically supported by Microsoft ( MSFT ).
- Ailbaba ( BABA ) is scheduled to hold an event in Beijing next week in which Chief Executive Daniel Zheng will give more details about the company's AI efforts.
- Meanwhile, Baidu ( BIDU ) is still reeling after it cancelled an event last month in which is was going to show off its ChatGPT rival, Ernie Bot .
- Baidu ( BIDU ) also reportedly filed suit against Apple ( AAPL ) and some app developers for producing counterfeit versions of Ernie Bot .
For further details see:
Why did Baidu stock fall 4% Monday? More AI issues in the worka