Baidu stock jumped on Tuesday after the tech giant, China’s answer to Google, smashed analysts’ earnings expectations.
Baidu is due to report earnings on Tuesday against a market backdrop that could divide investors in the Chinese tech giant. The stock is simultaneously a hot artificial intelligence play and exposed to a slowdown in the world’s second-largest economy. Sometimes billed as China’s answer to Google, Baidu is a sprawling tech company with a core focus on online search and advertising, though it also has units devoted to driverless taxis, cloud computing, and artificial intelligence. Baidu was early to position itself as a Chinese AI play, announcing an “Ernie” chatbot to rival the likes of ChatGPT.
Investors will have to parse both trends when they digest the results, due Tuesday before the opening bell. Of course, it’s also possible that the numbers may not matter all that much.
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