Shares of Chinese internet search major Baidu, Inc. (NASDAQ:BIDU) are inching upward at the time of publishing today after the company’s CEO Robin Li noted that Baidu will unveil Ernie 3.5 “very soon.”
Ernie 3.5, a large language model, is expected to power the company’s generative AI app, Ernie Bot, according to Reuters.
At present, Baidu products that are being powered by a large language model are accessible to only select invited users in trial mode. As investor interest in generative AI and large language models rises, shares of the company have already gained nearly 27% over the past six months.
Overall, the Street has a $191.46 consensus price target on BIDU alongside a Strong Buy consensus rating.
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