Investing Ideas

Chinese Search Giant Baidu to Launch ChatGPT-Style Bot

Baidu Inc. (BUDU) is planning to roll out an artificial intelligence chatbot service similar to OpenAI’s ChatGPT,

according to a person familiar with the matter, potentially China’s most prominent entry in a race touched off by the tech phenomenon.

China’s largest search engine company plans to debut a ChatGPT-style application in March, initially embedding it into its main search services, said the person, asking to remain unidentified discussing private information. The tool, whose name hasn’t been decided, will allow users to get conversation-style search results much like OpenAI’s popular platform.

The company’s shares rose as much as 5.8% after Bloomberg’s report, the largest intraday gain in almost four weeks.

U.S. Economy

Goldman Sachs Cuts U.S. Recession Odds to 25% on Strong Labor Market

After calling for a recession during the first half of last year and then for much of the latter half saying one was likely in 2023,


Economists Project China GDP to Record over 6 Percent Growth at Most in 2023, Injecting Impetus into Global Economic Recovery

International organizations and investment banks intensively raised their projections for China's economic growth in 2023 following impressive recovery of the country's consumption market during the Spring Festival holidays.

U.S. Economy

Wall Street to Jerome Powell: We don’t Believe You

Powell and his fellow Fed committee members yesterday hiked short-term interest rates another 0.25 percentage points to 4.75%, which means retirees and other savers are getting the best savings rates in a generation.