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.
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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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