JD.com Stock Is Trading Higher Thursday - What's Going On?

Chinese e-commerce platform JD.com Inc JD joined the domestic race to develop emerging artificial intelligence applications like OpenAI's ChatGPT. 

The Alibaba Group Holding Ltd BABA rival showcased a large language model for enterprise use, Bloomberg reports.

Also Read: Jack Ma's Ant Group Explores ChatGPT-Style Services. Challenges Baidu with Investment in AI

JD.com will launch the service, called ChatRhino, for its use in areas including e-commerce, logistics, and marketing. 

The company will extend the offering to enterprise clients starting in the first half of 2024, according to Cao Peng, chair of JD.com's technology committee and president of JD Cloud. 

Cao emphasized the need for the model to create enterprise value during the company's annual tech summit in Beijing on Thursday. 

JD.com will also launch an LLM platform for developers in August. 

In June, Baidu, Inc BIDU claimed the artificial intelligence model underpinning its chatbot outperformed OpenAI's ChatGPT in several key areas. Baidu said Ernie 3.5 surpassed ChatGPT in several benchmark tests.

Price Action: JD shares are trading higher by 3.02% at $38.53 premarket on the last check Thursday.