Baidu unveils ‘Ernie Bot’ amid the tech sector’s deepening A.I. race

Baidu shares jump on Tuesday as the company reveals its ChatGPT-like plans for 'Ernie Bot.'

Video Transcript

DAVE BRIGGS: Baidu shares jumping today up over 11% after announcing today its own ChatGPT-like project called Ernie Bot. Could there be a dark horse in the race?

ALLIE GARFINKLE: I think there absolutely could. So Baidu, it's important to say, has positioned itself as the AI leader in China's tech sector. So it's, of course, they want a piece of this pie. And Ernie is a couple of months from coming out. But I think there are a lot of really high hopes, as that stock spike really showed.

I also think you can't fully count out Meta yet. They've been pretty circumspect about it, but just last week, Mark Zuckerberg was saying, he really believes in generative AI. He's really excited about. And it's something that is clearly going to be important down the line. So I think it's-- I think there are a couple dark horses. There may even be some that we don't know about yet. The other thing I do want to say, I love that this got you guys both so fired up.

SEANA SMITH: What do you think? That's what I want to know. You cover this thing.

ALLIE GARFINKLE: Well, you know, if I had to guess, I would say Google.

SEANA SMITH: There we go--

ALLIE GARFINKLE: I think-- I know--

SEANA SMITH: --girl power.

ALLIE GARFINKLE: But Dave is clearly reading my articles, though, which is-- which I love. In the end, I do want to say, this is clearly a hype cycle. We don't know how this is all going to shake out. But it's clear something is happening. That's really exciting because, clearly, we're all excited about it.

SEANA SMITH: We are.

DAVE BRIGGS: Changing the way we live and work. Allie Garfinkle, thank you so much.