Baidu (NASDAQ:BIDU) stock is on the move Thursday after the company’s introduction of its artificial intelligence (AI) chatbot failed to impress investors.
The introduction of this chatbot, named Ernie Bot, came through a presentation from Baidu founder Robin Li. Unfortunately, that presentation didn’t go as well as the company had hoped.
The big hang-up investors had with this presentation was it not being in real-time. Instead of actively working with the chatbot on stage, Li instead talked about the AI’s features and abilities over pre-recorded footage.
Yu Yingbo, chief investment officer at Shenzhen Qianhai United Fortune Fund Management, summarized why the presentation was a bust for BIDU stock while speaking to Bloomberg:
“It looks pre-recorded, and so far it’s all just Powerpoints. The demos did not look spontaneous. He’s not citing anything on the database they are drawing from, or their model, or how it compares to ChatGPT. It’s all really vague and theoretical.”
Other Ernie Bot Issues
It’s also worth pointing out that Baidu didn’t launch the AI chatbot following its presentation. That’s another blow to BIDU stock as it doesn’t allow users to experience the service for themselves. That’s a sign that it isn’t as ready for launch as some traders were expecting.
BIDU stock is currently up about 1% as of Thursday morning after sliding lower in pre-market trading this morning.
Investors seeking more of the latest stock market news will want to stick around!
We’ve got all of the latest stock market news traders need to know about on Thursday! Among that is what has shares of Western Alliance Bancorp (NYSE:WAL), First Republic Bank (NYSE:FRC), and Virgin Orbit (NASDAQ:VORB) stock moving today. You can learn more on these matters at the links below!
More Thursday Stock Market News
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- Why Is Virgin Orbit (VORB) Stock Down 34% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
