《大行報告》法巴:百度(BIDU.US)今年迎更多復甦跡象 惟ChatGPT業務變現存不確定性
法巴發表報告,預計百度(BIDU.US)去年第四季收入下跌4%,之前預測為按年持平。同時將今年第一季收入按年增長預測由13%下調至1%,以反映今年為止廣告支出疲軟。但美股公平值仍維持183美元,而港股為180港元,因為對百度長期看法不變,預計下半年在廣告收入復甦推動下,利潤率會提升。
至於有報道指百度將在3月發布其版本的ChatGPT,法巴認為在變現和有效性方面有很多不確定因素,因為百度在財報電話中未有多談及詳情,只是在Create 2022活動中簡要地提到其ERNIE 3.0 Zeus引擎,即其聊天機械人框架的基礎。
法巴指,OpenAI在2018年6月提出GPT後,至少用了五年時間,才在去年12月開發出最新版本GPT-3.5。鑒於百度強調其首要任務是減少低回報的收入項目,目前不確定百度將為聊天機械人項目分配多少資源。
此外,該行指,鑒於OpenAI版本在內地無法使用,並且在騰訊旗下微信上被禁止,該產品可能涉及監管風險,期望未來能見到該產品在市場上有更大的可操作性和實用性。
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