Top mover alert: Baidu trades to highest level in almost 3 years - why?
🔝 $BIDU-SW(09888)$ shares gained as much as 4.3% today to HKD 160.90 this morning as its Wenxin Moment conference that’s expected to showcase the latest progress on the company’s AI model kicked off today
🔥Baidu shares are up 9.4% this week alone, taking its year-to-date gains to 21.1%
✳Trending Baidu call warrant $Baidu MB eCW260505(9KEW.SI)$ (https://warrants.com.sg/tools/livematrix/9KEW) is consequently up more than 5 times compared to Baidu's share price performance - +112.5% from SGD 0.056 at the end of Dec to this afternoon's SGD 0.119 (as of 155PM)
🚫There are no trending put warrants tracking Baidu shares
🤖Baidu shares are riding high on yesterday's Wall Street Journal report that its AI assistant Ernie, has surpassed 200 million monthly active users
📲Ernie Assistant is integrated into Baidu's flagship search-engine app and on personal computers, and is linked to apps such as JD.com, Meituan and Trip.com to help book flight tickets, order food delivery, and search for health and legal advice, among others
🔄Meanwhile, Baidu AI chip unit Kunlunxin's planned IPO has also been a share price catalyst, with analysts believing that the IPO will lead to a re-rating opportunity for Baidu
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