Baidu: Ernie Bot May Be As Good And Growing As Fast As ChatGPT (Rating Upgrade)

zorazhuangBaidu (NASDAQ:BIDU) continues to see great progress in emerging business opportunities, most notably GenAI development and deployment. In fact, the company recently disclosed that Ernie Bot, China's equivalent of ChatGPT, has attracted more than 100 million subscribers. Needless to say, that represents an enormous monetization base looking into 2024 and beyond. Meanwhile, market participants price Baidu as a simple advertising business, with shares trading at an EV/EBIT of about 9x. Even accou ...