Chinese tech major Baidu (NASDAQ:BIDU) is suing Apple (NASDAQ:AAPL) and ‘relevant’ app developers over false copies of its Ernie bot app on the Apple store, according to Reuters.
Baidu unveiled the generative AI in March. Ernie has proficiency in various use cases including Chinese language and business writing. Now, the company has brought the lawsuits in a court in Beijing.
The bot is only accessible to applicants with access codes at present and does not have an official app yet.
Overall, the Street has a $188.06 consensus price target on BIDU implying a 29.7% potential upside in the stock. That’s on top of a 21.7% run-up in BIDU shares so far in 2023.
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