Tag: $Baidu

Shares in Baidu rose Thursday after the Chinese tech company focused on search and artificial intelligence reported first-quarter results ahead of Wall Street’s expectations.

Shares of Baidu Inc rose sharply in Hong Kong trade after multiple media reports suggested that the company was in talks with Apple Inc over using the Chinese internet giant’s AI models in Apple’s iPhone software in China. 

China’s Baidu said fourth-quarter revenue rose 6%, helped by gains from its artificial intelligence applications and a growing advertising business.

Baidu shares dropped following a report that its artificial-intelligence chatbot had been tested by scientists affiliated with the Chinese military. The internet company distanced itself from the research in a sign of the political challenges facing Chinese AI companies.

Revenue grew by 6% year-on-year to 34.45 billion yuan ($4.72 billion) in the quarter that ended Sept. 30. That was slightly higher than analyst expectations.

Chinese tech company Baidu reported better-than-expected revenue, up by 15% year-on-year in the second quarter and bolstered by growth in advertising.

Baidu said Tuesday the artificial intelligence model underpinning its chatbot outperformed OpenAI’s ChatGPT in several key areas.