China's artificial intelligence evolution is at an "inflection point" — and the country is catching up with the U.S., according to Morgan Stanley.
Morgan Stanley, in a separate note, flagged Baidu in particular as the best AI play in China, and the "most obvious beneficiary" of the $7.4 trillion AI opportunity in China.
Baidu, China's largest search engine, owns the most extensive proprietary search data — and it's essential for the development of AI-generated content, Morgan Stanley noted.
Morgan Stanley predicts that growth will be close to 50% in the next three to five years.
Morgan Stanley gave Baidu a target price of $190, or 35% potential upside.
Persons:
Morgan Stanley, Alibaba, Tencent, Ernie, — CNBC's Michael Bloom
Organizations:
U.S, Stock, Baidu
Locations:
China, United States