According to recent reports, Baidu is set to launch China’s ChatGPT. This has led to a surge in Baidu’s stock prices, with the US stock rising by almost 15% and Hong Kong stock by over 7%.
Many institutions have released information regarding the significant growth potential for Baidu. Macquarie has adjusted its earnings per share estimate for the next two years, increasing it by 13% and 4% respectively. The capital market believes that China’s ChatGPT will bring tremendous value to Baidu. Unlike the strong competition between Microsoft and Google in the US market, Baidu is expected to reap all the benefits in the Chinese market.
