Baidu sinks most since 2022 despite denying liking to PLA AI

News Snapshot:

(Bloomberg) — Baidu Inc. plunged its most in more than a year after a report linked its Ernie AI platform to key military research, spurring concerns about retaliation from Washington. Most Read from Bloomberg The search engine firm, generally considered one of China’s leaders in artificial intelligence development, fell 11.5% Monday despite publicly denying the relationship. Traders in Hong Kong cited a South China Morning Post report about how a university affiliated with the People’s Liberation Army’s Strategic Support Force — which oversees cyberwarfare — had tested its AI system on Baidu’s ChatGPT-like Ernie. Baidu on Monday denied any affiliation...