Shares of Baidu (NASDAQ: BIDU) jumped 12% on Tuesday after the Chinese tech giant announced plans to enter the artificial intelligence (AI)-powered chatbot arena. 

The rapid adoption of OpenAI's wildly popular ChatGPT has sparked a massive wave of interest in AI stocks among investors. The chatbot uses advanced generative AI technology that can answer complex questions and create novel content. People can interact with ChatGPT in a conversational way, which has made it easier to use than previous AI applications.

Baidu is testing its version of a ChatGPT-like service. The chatbot will be called ERNIE Bot, which stands for "Enhanced Representation through Knowledge Integration." Baidu said ERNIE Bot will be able to conduct text-to-image generation and language generation tasks.

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Source Fool.com