Baidu (BIDU) will offer its ChatGPT-style Ernie AI chatbot for free starting April 1, the Chinese internet search giant said Thursday. Baidu stock rose, as the company made its latest move in the AI battle among Chinese companies that includes tech giants Alibaba (BABA) and Tencent (TCEHY), as well as startups like DeepSeek.
On the stock market today, Baidu stock is up nearly 4% at 96.92.
↑ X NOW PLAYING How Big Of A Threat Does DeepSeek's Disruption Pose To AI, Energy And Utility Stocks?The Beijing-based company said in a WeChat post that users will have free access to the chatbot, which the company launched in 2023. The company is also adding a new "deep search" function. The bot previously cost about $8 per month for users.
The news comes as tech companies in China are battling to offer advanced and powerful AI models. Alibaba scored a win earlier in the week, as The Information reported that Apple (AAPL) would use Alibaba's AI models to power new iPhone features in China.
Apple had previously considered partnering with Baidu or Tencent, according to the report.
Meanwhile, Chinese startup DeepSeek shook up the stock market late last month by releasing a high-performing large language model, at what it said was a significantly lower development cost compared to industry leaders such as OpenAI.
Alibaba also released a new model late last month it said was competitive with industry-leaders.
Baidu operates China's top internet search engine, a cloud services business and a self-driving car division.
Including Thursday's gains, Baidu stock is up 14% this year. But it has a so-so IBD Composite Rating of 67 out of best-possible 99, according to IBD Stock Checkup.
The stock has formed a consolidation pattern with a 116.25 buy point, as identified by MarketSurge. Shares stock had been hovering near Baidu's 200-day moving average since late last month but moved decisively above the long-term trendline Thursday.
Baidu's recent gains will be tested next week, when the company reports fourth quarter earnings on Feb. 18.
Analysts polled by FactSet project Baidu will post earnings of $1.97 per American depository share on sales of RMB 33.4 billion ($4.6 billion).
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