Baidu’s bot is catapulting its maker back to stardom
past Baidu’s valuation of $50bn. In an effort at emulation, it launched its own delivery and shopping solutions, along with other services such as payments and social media. These mostly flopped. The company’s market capitalisation is now equivalent to one-eighth of Tencent’s, down from one-fifth five years ago., however, is reigniting excitement about the company. Ernie was downloaded 1m times within 19 hours of its release .
Much of what comes next for Baidu will depend on policymaking in Beijing and Washington. The Biden administration’s restrictions on the sale of advanced chips to China are causing the company a world of pain. Almost all of those chips, which mostbuilders use to train their models, are produced outside China. Using a larger quantity of lower-powered chips is possible, but expensive.efforts rely on the Kunlunxin chip.
Recent experience has made it clear to China’s tech executives that they operate at the pleasure of the government, and that its favour can be quickly withdrawn. Internet firms were hit with several regulatory crackdowns between 2020 and 2022. Another oncould do great damage to the companies that have invested in the technology, not least Baidu. The company is testing the waters in a difficult environment. For that reason it is important to watch what Ernie says—and all that it doesn’t.
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