Why Baidu (BIDU) Shares Are Trading Higher Premarket Today - Baidu (NASDAQ:BIDU)

Baidu, Inc BIDU prepared to complete internal testing of a ChatGPT-style project called "Ernie Bot" in March, as interest in generative artificial intelligence gained steam.
A flurry of Chinese AI stocks also rallied, as the global frenzy around the Microsoft Corp MSFT -backed chatbot sensation ChatGPT spurred speculative bets on the new technology, Reuters reports.
Just two months after its launch, ChatGPT became the fastest-growing consumer app in history.
It has prompted many tech firms to double down on the heavily hyped generative AI technology.
Alphabet Inc GOOG GOOGL Google shared plans to launch a chatbot service and more AI for its search engine while Microsoft eyed its own AI reveal.
Baidu aims to make the service a standalone application and gradually merge it into its search engine by incorporating chatbot-generated results when users make search requests.
Baidu invested heavily in AI technology, including cloud services, chips, and autonomous driving, to diversify its revenue sources.
Price Action: BIDU shares traded higher by 14.9% at $164.14 premarket on he last check Tuesday.

Why Baidu Shares Are Trading Higher Premarket Today