Baidu, a major Chinese search and artificial intelligence firm, has announced that it plans to integrate its artificial intelligence chatbot, Ernie, into its search services starting in March. Baidu aims to develop a chatbot equivalent to OpenAI’s ChatGPT, and will make Ernie Bot available to the public after completing internal testing next month. The chatbot will be integrated into all of Baidu’s operations, including its search and cloud services, as well as into its smart car operating system and smart speaker. Baidu Inc’s (NSD:BIDU) CEO Robin Li stated in an internal memo that AI technology has reached a tipping point and all industries will inevitably go through transformation. Baidu also announced a $5 billion share buyback. In Q4 2022, Baidu reported revenues of 33.1 billion yuan ($4.8 billion), with most of its revenue coming from online marketing services and its autonomous ride-hailing services, Apollo Go, providing 561,000 rides, up 162% from a year earlier.
Baidu Inc Stock Analysis:
According to the forecasts of 16 analysts, Baidu Inc is expected to have an average target price of $169.50 within the next 12 months, with an average analyst rating of Strong Buy. However, Stock Target Advisor’s analysis of Baidu Inc is Bearish, based on 2 positive signals and 5 negative signals. As of the last closing, Baidu Inc’s stock price was $140.82. The company’s stock price has experienced a decline of 8.25% over the past week, an increase of 5.07% over the past month, and a drop of 7.15% over the past year.
Company Overview
Baidu, Inc. offers internet search services in China. It operates through Baidu Core and iQIYI segments. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Inc. Feed that provides users with personalized timeline based on their demographics and interests; and Haokan, a short video app. It also provides Baidu Knows, an online community where users can ask questions to other users; Baidu Wiki; Baidu Healthcare Wiki; Baidu Wenku; Baidu Scholar; Baidu Experience; Baidu Post; Baidu Maps, a voice-enabled mobile app that provides travel-related services; Baidu Drive; Baijiahao; and DuerOS, a smart assistant platform. In addition, it offers online marketing services, which include pay for performance, an auction-based services that allow customers to bid for priority placement of paid sponsored links and reach users who search for information related to their products or services; other marketing services that include display-based marketing services. The company was formerly known as Baidu.com, Inc. Baidu, Inc. was incorporated in 2000 and is headquartered in Beijing, China.
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