Baidu Soars After ERNIE Gets Thumbs-Up From Analysts After Test-Run

Robin Li, chairman and chief executive officer of Baidu Inc., speaks during a launch event for the company's Earnie Bot in Beijing on Thursday. Photo: Bloomberg

(Bloomberg) -- Baidu Inc. surged more than 14% Friday after brokerages including Citigroup tested the company’s recently unveiled ChatGPT-like service and granted it their preliminary approval.

Baidu’s leap reversed a 6.4% loss on Thursday after founder Robin Li debuted China’s answer to ChatGPT via recorded video, disappointing investors hoping for a real-time demo of the country’s highest-profile entry in a race to dominate the technology.

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