Baidu shares collapsed on news of its chatbot being used by the Chinese military

A research institute affiliated with the Chinese military tested its AI development on a Baidu chatbot. The company itself stated that it was not involved in this. But the market is still wary of possible US sanctions.

 

Shares of Chinese technology company Baidu have plunged following news that its chatbot counterpart ChatGPT has been used in the military. This raised fears of potential sanctions against Baidu from the United States, Bloomberg writes. At the minimum, the securities fell by 12.02% on the Hong Kong Stock Exchange, to 99.95 Hong Kong dollars ($12.78). This is the biggest intraday drop in prices in more than a year.