Baidu canceled the release plan of the "Ernie bot" (Ernie bot) similar to ChatGPT on Monday (27th), and its stock price plummeted in Hong Kong.

(Reuters file photo)

[Financial Channel/Comprehensive Report] Chinese search engine giant Baidu on Monday (27th) canceled the release plan of the "Ernie bot" (Ernie bot) similar to ChatGPT, and its stock price plummeted in Hong Kong.

Baidu has advertised the product and made it available to the media and the public.

Baidu said in a statement that a webcast scheduled for Monday afternoon had been changed to a closed-door meeting with the first companies that are testing the product.

The reasoning behind the change of format was to meet strong demand from the 120,000 companies that had applied to test Ernie bot, the company said, adding that it would be the first of many closed-door meetings.

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Baidu's shares in Hong Kong resumed trading after a lunch break on Monday, falling as much as 5 percent, and were last down 3.1 percent at HK$149.60, while the Hang Seng fell 0.9 percent.

The Ernie bot, the closest Chinese bot so far to the U.S.-developed ChatGPT, was launched on March 16 by Baidu CEO Robin Li, who gave a live-streamed demonstration to reporters in a series of pre-recorded presentations showing the Chinese chatbot's capabilities. different functions.

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