Why BIDU is trading +10% today

Baidu to Report Fourth Quarter and Fiscal Year 2022 Financial Results on February 22, 2023

Baidu, Inc. (Nasdaq: BIDU; HKEX: 9888), a leading AI company with strong Internet foundation, announced that it will report its financial results for the Fourth Quarter and Full Year 2022 ended December 31, 2022, before the U.S. market opens on February 22, 2023. Baidu's management will hold an earnings conference call on February 22, 2023 at 7:30 AM Eastern Time (8:30 PM Beijing Time).

Pre-Registration for the Earnings Conference Call

To participate in the earnings conference call, pre-registration is required. Follow this link to register:

https://s1.c-conf.com/diamondpass/10028709-re5fs4.html

The dial-in number, passcode, and unique access PIN will be provided after registering. This information will also be sent as a calendar invite.

Webcast Availability

A live and archived webcast of the conference call will be available at https://ir.baidu.com.

Baidu's Mission and Trading Information

Founded in 2000, Baidu's mission is to make the world simpler through technology. Baidu trades on Nasdaq under the symbol "BIDU" and on the HKEX under "9888". One Baidu ADS represents eight Class A ordinary shares.

Baidu to Launch "Ernie Bot" in March 2023

Baidu has confirmed plans to launch its ChatGPT-style AI chatbot named "Wenxin Yiyan" or "Ernie Bot" in March 2023. The platform stands for "Enhanced Representation through Knowledge Integration". The chatbot is being developed as a standalone application and will eventually be integrated into Baidu's search engine, incorporating chatbot-generated results in search requests.

Baidu's shares in Hong Kong saw a surge of 16% following the news of the AI chatbot launch. The company's investment in AI is seen as a strategic move in the AI race, with Baidu being a key player among Chinese Big Tech companies.

Language Model Training

ERNIE Bot is based on a language model developed by Baidu in 2019. Since then, the project has evolved to include features such as the ability to write poems, papers, and automatically generate images. The technology is continuously being upgraded to allow for multiple task learning like humans.