Why did Baidu stock fall 4% Monday? More AI issues in the works
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Baidu (NASDAQ:BIDU) shares fell more than 4% Monday as the Chinese Internet search giant was bruised again in the wake of its recent stumbles in the artificial intelligence market.
Alibaba (BABA), one of Baidu's (BIDU) top competitors, on Monday sent out invitations to some corporate customers to try out its new large language model, which Alibaba (BABA) is attempting to position as an AI alternative to OpenAI's ChatGPT. OpenAI is financially backed, and technologically supported by Microsoft (MSFT).

Ailbaba (BABA) is scheduled to hold an event in Beijing next week in which Chief Executive Daniel Zheng will give more details about the company's AI efforts.
Meanwhile, Baidu (BIDU) is still reeling after it cancelled an event last month in which is was going to show off its ChatGPT rival, Ernie Bot.
Baidu (BIDU) also reportedly filed suit against Apple (AAPL) and some app developers for producing counterfeit versions of Ernie Bot.