Chinese giant Baidu Inc. declared on Tuesday that the testing phase of their AI project called “Ernie Bot,” which is comparable to ChatGPT, will be completed in March. The Hong Kong stock market saw a 15.3% spike as a result of this revelation, driving up the price of Baidu’s shares. Since its release two months ago, ChatGPT, which can generate diverse texts including articles, jokes, and poems in response to inputs, has experienced the fastest growth among consumer apps. This has prompted numerous technology companies to increase their investments in generative AI technology, which up until recently had not been a substantial income generator.