The earlier-than-expected release of its ChatGPT-like Ernie Bot could give Baidu Inc., China’s top Internet search engine, new momentum, resuming a rise that increased its market capitalization by $23 billion from last year’s low.

Following the company’s unexpectedly good quarterly results, Baidu this week opened up access to its artificial intelligence service, capping a two-week rise in its US-listed stock. Ernie Bot immediately acquired 1 million users and shot to the top of the national app rankings, even though China promoted the products of multiple companies.

Compared to Tencent and Alibaba Group, JPMorgan Chase & Co. anticipates a substantially more favorable effect on Baidu’s share price and earnings. Over the past ten months, Baidu has surpassed its more established rivals in terms of growth.

“We believe that Baidu is currently the best investment vehicle for the development of AIGC in China,” JPMorgan analysts stated in their study.

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