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Baidu Soars After Analysts Give Ernie a Thumbs-Up After Test-Run

  • Its shares gained more than 14% at their peak on Friday
  • Analysts tested and gave Ernie Bot their preliminary approval
Robin Li on March 16.
Robin Li on March 16.Photographer: Qilai Shen/Bloomberg
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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.