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Baidu’s ChatGPT-competitor Ernie underwhelms in first demo.

The use of pre-recorded videos and the lack of a public launch sent Baidu shares tumbling as much as 10 percent, ultimately shaving $3 billion off the Chinese search giant’s market valuation.

Not surprised — James Vincent said that China’s heavy-handed approach to censorship and regulation could undermine attempts to compete with US chatbots developed with an abundance of training data freely (for now) scraped from the web.