Baidu shares slump nearly 10% as new Ernie 5.0 AI model fails to impress investors

Baidu shares took a hit after the Chinese search giant’s latest AI model failed to satisfy investors, marking its biggest decline in seven months. Hong Kong-traded Baidu shares fell nearly 10% on Friday after the company introduced Ernie 5.0 . Although enthusiasm waned after the latest upgrade, the stock is still up more than 40%. However, collectively, there has been a pause in the global surge of AI, driven by concerns over high valuations and expensive investments. Baidu’s Ernie 5.0 is unimpressive next to competitors Ernie 5.0 from Baidu is designed to work with text, image, audio, and video content. It’s designed to understand different types of media, follow instructions, write creative text, think logically , and plan actions and use tools effectively. The model was unveiled on Thursday along with a portfolio of new AI offerings and an international expansion program. The other improvements include a more advanced Miaoda...

https://www.cryptopolitan.com/baidu-plunges-after-upgrade-disappoints/