Baidu Inc. is investing 1 billion yuan ($140 million) to nurture Chinese startups that explore generative AI, leveraging its Ernie AI model to help drive innovation.
Baidu countered with its version of ChatGPT, dubbed Ernie Bot, sparking competition among rivals such as Alibaba Group Holding Ltd., Tencent Holdings Ltd., and SenseTime Group Inc. to unveil competing platforms. Baidu, in partnership with venture capitalists, will evaluate pitches from aspiring founders who plan to use Ernie to expand their services.
Li unveiled Ernie Bot in March via a pre-recorded demo, leaving investors and analysts somewhat underwhelmed. While the Chinese
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