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Chatbot Frenzy Drives Baidu’s Stock Rally to Extreme Levels

  • Baidu’s planned Ernie Bot launch under the spotlight
  • Shares reach overbought levels as rally tops Chinese peers
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The heat is on Baidu Inc. to deliver after the hype surrounding its soon-to-come ChatGPT-style service supercharged a rally in its stock.

The stock has jumped 45% in Hong Kong this year, including a 15% gain Tuesday after China’s largest search engine said it will unveil its artificial intelligence chatbot in March. The move, potentially the nation’s most prominent entry into the next big thing, has pushed Baidu shares into overbought territory, with gains trouncing rivals Alibaba Group Holding Ltd. and Tencent Holdings Ltd.