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5 Top Stories

Meta + LG Collab?; Google Chatbot ‘Bias’; Baidu Revenue Jumps

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

The Future of AR: Meta + LG Collab?

After several days skiing in Japan, Meta [META] CEO Mark Zuckerberg is in Seoul, where he has met with LG Electronics [066570:KS] CEO William Cho to discuss expanding the two firms’ strategic alliance on extended-reality technology, the next generation of augmented reality. In addition, they discussed Meta’s large language models and building AI into consumer devices, LG said in a statement.

Google Addresses AI Chatbot ‘Bias’

“No AI is perfect, especially at this emerging stage of the industry’s development, but we know the bar is high for us and we will keep at it for however long it takes,” Google [GOOGL] CEO Sundar Pichai wrote in an email to staff on Tuesday, after the company’s Gemini chatbot last week produced ahistorical images and reportedly demonstrated bias. Pichai said the company would make structural changes to address the issue.

India: Mounjaro is Coming

Eli Lilly [LLY] is to launch its blockbuster diabetes/obesity drug in the country as early as next year, CEO David Ricks told Reuters on Wednesday — as soon as regulators give it the green light. India has high rates of both obesity and diabetes, and hence is a potentially huge market for the drug. Ricks also said that he was open to the possibility of working with partners to bring it to market.

Baidu AI Chatbot Helps Revenue Jump 6%

The Chinese AI leader reported sales of nearly RMB35bn for the three months ended December, while adjusted net income jumped 44% to RMB7.8bn. The firm’s revenue was up 6%, thanks to the efforts of its ChatGPT-style chatbot, known as Ernie, which has been working to boost advertising sales. Ernie now has more than 100 million users, and Baidu is encouraging local developers to use it as a platform to create AI-based apps.

BYD Steps Up EV Price War

The electric vehicle (EV) leader [1211:HK] on Wednesday intensified the ongoing price war by unveiling lower-priced versions of its Han sedans and Tang SUVs. Elsewhere, Tesla [TSLA] CEO Elon Musk said his company is aiming to ship its Roadster sports car next year; it was originally slated to launch in 2020. Lastly, British luxury automaker Aston Martin [AML:L] said it has pushed back the launch of its first battery EV to 2026.

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