Baidu Inc. surged more than 14% Friday after brokerages including Citigroup tested the company’s just-unveiled ChatGPT-like service and granted it their preliminary approval.
Baidu’s leap reversed a 6.4% loss on Thursday after founder Robin Li debuted China’s answer to ChatGPT via recorded video, disappointing investors hoping for a real-time demo of the country’s highest-profile entry in a race to dominate the technology.
