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Baidu Launches ERNIE 4.5 Turbo, ERNIE X1 Turbo and New Suite of AI Tools to Empower Developers and Supercharge AI Innovation

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Following the release of two models in mid-March, Baidu unveiled ERNIE 4.5 Turbo and ERNIE X1 Turbo today, which stand out for their multimodal capabilities, strong reasoning, and low costs. ERNIE 4.5 Turbo delivers faster responses while priced at 20% of ERNIE 4.5; ERNIE X1 Turbo, featuring enhanced capabilities, is half the price of ERNIE X1.In addition to the models, Baidu also unveiled an array of AI applications, including Xinxiang, a multi-agent collaboration app, enabling full task delivery from a single sentence prompt, as well as highly convincing digital humans.Baidu also announced an AI Open Initiative as well as the integration of MCP into some existing products to enable effortless experience for the developers to access and utilize Baidu’s suite of services.

WUHAN, China, April 25, 2025 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888), a leading AI company with a strong internet foundation, today introduced a new suite of AI innovations at its annual developer conference Baidu Create 2025. At the event, Baidu co-founder and CEO Robin Li introduced ERNIE 4.5 Turbo and ERNIE X1 Turbo, the latest two models of the company, along with a series of AI applications and advancements, and committed to empowering developers to fully embrace MCP (Model Context Protocol).

“Our releases aim to empower developers to build the best applications — without having to worry about model capability, costs, or development tools,” Li said in his keynote, addressing an audience of over 5,000 developers and tech enthusiasts. “Without practical applications, neither advanced chips nor sophisticated models hold value. While there will be a multitude of models, it is the applications that will truly dominate in the future. Applications are where true power lies,” Li added.

ERNIE 4.5 Turbo and ERNIE X1 Turbo: Faster and Cheaper

Baidu introduced ERNIE 4.5 Turbo and ERNIE X1 Turbo at Create 2025, both of which feature enhanced multimodal capabilities, strong reasoning, low costs, and are available for users to access on ERNIE Bot now free of charge. The two models were launched to address common pain points in the industry, including single-modality, high-hallucination, slow-response and high-price, Li noted.

ERNIE X1 Turbo is an upgraded deep thinking reasoning model. Featuring a more advanced chain of thought, stronger deep thinking capabilities, and further enhanced multimodal and tool invocation abilities, it excels in Q&A, literary creation, and logical reasoning, outperforming DeepSeek R1 as well as the latest version of V3.

ERNIE X1 Turbo offers improved performance while being priced at half of ERNIE X1, making it only 25% of the price of DeepSeek R1. The input price is RMB 1 per million tokens, and the output price is RMB 4 per million tokens.

ERNIE 4.5 Turbo demonstrates overall progress in hallucination reduction, logical reasoning, and coding abilities, with faster response. The multimodal capabilities of ERNIE 4.5 Turbo are on par with GPT-4.1 and superior to GPT-4o across multiple benchmarks. For ERNIE 4.5 Turbo, the input price is only RMB 0.8 per million tokens, and the output price is RMB 3.2 per million tokens, 80% off the price of ERNIE 4.5, 0.2% of GPT-4.5 and 40% of DeepSeek V3.

Both ERNIE 4.5 Turbo and X1 Turbo have further enhanced their multimodal capabilities. “Multimodality will become a standard feature of future foundation models. The market for pure text-based models will shrink, while the market for multimodal models will continue to grow,” Li predicted in his keynote.

The two models follow the launch of ERNIE 4.5, the company’s first native multimodal foundation model, and ERNIE X1, a multimodal deep-thinking reasoning model capable of tool use, both of which received strong market recognition after their debut on March 16, 2025.

AI Application Frontrunners: Highly Convincing Digital Humans and Multi-agent Tool Xinxiang

The highly convincing digital human is one of the key applications that exemplify the capabilities of multimodality. “AI digital humans are one of the most exciting breakthrough applications in 2025,” Li said in his speech.

Li introduced Baidu’s highly convincing AI digital human, which features ultra-realistic voice and appearance, as well as more professional content-generation and more flexible interactions. Baidu’s Huiboxing, a digital human livestream platform powered by AI, now offers a feature to create a digital human in one click where users can upload a video as short as two minutes before the system can generate a personalized digital human ready to go live.

Over the past year, agents have transitioned from a niche concept to a core field of AI applications. Notably, coding agents have rapidly gained traction, with Baidu offering tools like Comate for code assistance and Miaoda, a no-code platform for multi-agent collaboration. In March, Miaoda was made available to the public, allowing users to generate applications with a single sentence.

“There are nearly 30 million programmers and 8 billion people globally. As technologies become more accessible, everyone can possess the capabilities of a programmer,” said Li.

At the event, Baidu also officially released the multi-agent collaboration app Xinxiang, a “general super agent” capable of solving complex problems for users in a one-stop manner. Currently, Xinxiang covers 200 task types in scenarios such as knowledge-analysis, travel-planning, studying, and office work. In the future, Baidu plans to expand the number of task types to over 100,000.

Li also introduced Cangzhou OS, the first content operating system jointly launched by Baidu Wenku and Baidu Drive. Powered by Cangzhou OS, Baidu Drive has launched AI Note, the industry’s first multimodal AI note-taking tool. Users can generate quick notes, mind maps, and quizzes from watching educational videos with just a single click.

To date, Baidu Wenku’s AI features have amassed 40 million paying users and 97 million monthly active users (MAUs), while Baidu Drive’s AI features serve more than 80 million MAUs.

Building a Thriving Ecosystem: AI Open Initiative, MCP and ERNIE Cup

Addressing the booming AI application market, Baidu introduced a series of initiatives aimed at supporting AI developers in adapting to the emerging trend.

Baidu Search Open Platform has launched the AI Open Initiative (sai.baidu.com), providing developers of AI agents, H5 pages, mini programs, and standalone apps with traffic and monetization opportunities, as well as access to the latest AI services through a diversified content and service distribution system.

Also at the event, Baidu announced full support to enable developers to adopt Model Context Protocol (MCP). Li compared MCP to installing a “universal socket” for AI — enabling seamless connections between external services and large models through standardized interfaces. Live demos showcased the integration of MCP across a series of Baidu proprietary services, including the Baidu Qianfan Foundation Model Platform, Baidu Search, e-commerce, and Baidu Drive.

To further support innovation in AI, Baidu announced the third ERNIE Cup Innovation Challenge at Create 2025. This year’s challenge will double the prize amounts from previous years, offering up to RMB 70 million in investment for outstanding projects.

At the same time, Baidu announced that over the next five years, the company will scale up its efforts to cultivate an additional 10 million AI talents for society.

Baidu Create is Baidu’s annual tech event for the developer community, serving as a platform for technology launches and knowledge exchange. This year’s conference centered around the theme of “Models Lead, APPs Rule” and featured six sub-forums on subjects such as MCP, agents, DeepSeek and more.

About Baidu

Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong internet foundation, trading on the NASDAQ under “BIDU” and HKEX under “9888.” One Baidu ADS represents eight Class A ordinary shares.

Media Contact
intlcomm@baidu.com

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SOURCE Baidu, Inc.

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Cboe Clear U.S. Receives SEC Approval to Expand Clearing Capabilities

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SEC registration enables Cboe Clear U.S. to clear binary securities options alongside futures, positioning it to support innovation across the market

CHICAGO, Oct. 23, 2026 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today announced that Cboe Clear U.S., LLC (CCUS) has received temporary registration from the U.S. Securities and Exchange Commission (SEC) to operate as a Covered Clearing Agency.

The registration expands CCUS’s clearing capabilities beyond its existing authorities as a Commodity Futures Trading Commission (CFTC)-registered Derivatives Clearing Organization (DCO) to clear securities products in addition to futures and swaps products. Together with recent enhancements to its regulatory framework and product scope, the milestone positions CCUS to support innovation and emerging opportunities across a broad range of assets and markets.

CCUS will initially use its SEC registration to clear Cboe’s binary securities options tied to specified corporate key performance indicators (KPIs), which are planned to list on Cboe Options Exchange and be available on Robinhood in the fourth-quarter 2026. CCUS also recently received CFTC approval to clear margined futures broadly and continues to clear digital asset derivatives under its DCO designation.

“Clearing plays a critical role in bringing innovation to market,” said Dale Michaels, Head of Cboe Clear U.S. “These expanded capabilities position Cboe Clear U.S. to become an innovation lane to support new products and meet evolving customer needs, while maintaining the rigorous risk management standards that are fundamental to our business.”

These efforts complement Cboe’s longstanding partnership with The Options Clearing Corporation (OCC)® and Cboe’s continued commitment to supporting the established clearing infrastructure for traditional equity options.

The development builds on the growth of Cboe’s established European clearing business, where Cboe Clear Europe has become the leading pan-European equities central counterparty, while expanding into new services such as securities financing transaction clearing. Together, these advances demonstrate Cboe’s ability to extend its clearing capabilities across markets and asset classes.

To support its own future growth, CCUS has strengthened its infrastructure over the past year, including electing in June to become a Subpart C DCO. In doing so, CCUS is voluntarily adopting the enhanced standards the CFTC applies to systemically important DCOs for financial resources, risk management and operational resilience, aligning with those applied to leading global clearing organizations.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity and index derivatives. Since launching the world’s first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world’s leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.

Cboe Media Contacts

 

Cboe Analyst Contact

 

Angela Tu

+1-646-856-8734

atu@cboe.com

Tim Cave

+44 (0) 7593-506-719

tcave@cboe.com

Kenneth Hill, CFA

+1-312-786-7559

khill@cboe.com

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Cboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor’s Financial Services LLC. All other trademarks and service marks are the property of their respective owners. 

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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SOURCE Cboe Global Markets, Inc.

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Hears Everything, Uploads Nothing: VoxNexus Launches Android’s First Low-Power On-Device Always-On Voice Artificial Intelligence (AI)

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VoxNexus’ new on-device ambient listening solution runs for 12 hours on 2.49% of a phone’s battery and never sends audio to the cloud

MADRID, Oct. 23, 2026 /PRNewswire/ — VoxNexus (www.VoxNexus.ai) released VoxEdge, an on-device voice stack that brings speech recognition, translation and speech synthesis to affordable Android devices, entirely offline. VoxEdge supports speech recognition in 36 languages, translation in 103 languages, and speech synthesis in 45 languages—all running with no connection, no data bundle, and no cloud token bills.

AI should work for everyone, not just for speakers of a handful of mainstream languages. Yet across much of Africa, voice AI has been held back by scarce training data and the lack of targeted fine-tuning. Everyday speech also includes code-switching and dialect variation, while cloud-based inference costs can make deployment at scale expensive. 

VoxNexus’s solutions run entirely on device, and every query is free once the model is installed on the device. Its speech recognition model has as few as 65 million parameters and achieves a lower word error rate than open-source models nearly ten times its size.

“Under-resource languages aren’t small languages. Hundreds of millions of people speak them. Until now, AI models just haven’t learned them yet,” said Charles Shi, CEO of VoxNexus.

VoxNexus also launched VoxSense, an on-device ambient listening solution that uses only 162 mAh for 12 hours of continuous listening, around 2.5% of a 6,500 mAh phone battery. By keeping all processing on device, VoxSense makes always-on listening practical without draining the battery and without sending any audio to the cloud. Developers and device makers can easily integrate it through a license and a simple SDK. Developers can request a free trial here: www.VoxNexus.ai.

VoxSense and VoxEdge were unveiled at the MediaTek Dimensity 9600 launch in Madrid on October 19.

Distributed by APO Group on behalf of VoxNexus AI. 

About VoxNexus:
VoxNexus builds AI that hears and speaks — for everyone, everywhere, all the time. Its audio intelligence runs entirely on-device, delivering low latency, built-in privacy, and zero token cost across any device with a chip. VoxNexus is headquartered in Singapore. Website: www.VoxNexus.ai. Contact: public@voxnexus.ai  

VoxNexus demonstrates live on-device speech recognition at the MediaTek Dimensity 9600 launch in Madrid on Oct. 19, 2026. Spanish and English conversations were transcribed in real time on the phone, with no cloud connection. (Photo: VoxNexus) 

Speaks Your Language, No Internet Needed: VoxNexus Brings On-Device Voice Artificial Intelligence (AI) in 100+ Languages to Affordable Android Devices

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SOURCE VoxNexus AI

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team.blue extends €1.1 billion of its Term Loan B to 2032 in the largest software Euro term loan issuance in the last 12 months

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GHENT, Belgium, Oct. 23, 2026 /PRNewswire/ — team.blue, a leading pan-European provider of digital solutions for small and medium-sized businesses (SMBs) backed by Hg, CPP Investments and Sofina, today announces the successful pricing of an amendment and maturity extension for €1.1 billion of its existing €1.35 billion Term Loan B. The transaction priced on 22 October 2026, with the refinanced tranche extended from September 2029 to July 2032, reinforcing the Company’s prudent capital structure approach.

Strong demand from a broad group of institutional investors enabled team.blue to upsize the transaction twice in-market, taking the final deal size to €1.1 billion from a minimum initial launch size of €500 million, despite recent credit market volatility. Pro forma for the transaction, c.90% of team.blue’s term debt now matures in 2032.

The transaction comes at a time of significant momentum for team.blue, with continued double-digit revenue growth and strong cash generation supporting its deleveraging trajectory. Its products help Europe’s SMBs get online, get customers, get paid and stay compliant, and AI-enabled products are increasingly driving new customer growth. team.blue continues to innovate across its portfolio, from smarter tools within its brands to secure European cloud hosting built for customers’ growing AI workloads. Its category-leading SaaS brands are also integrating with leading AI assistants, bringing team.blue’s products to customers wherever they work.

Transaction highlights

The largest software Euro term loan issuance in the last 12 months€1.1 billion Term Loan B, borrowed by team.blue Finco S.à r.l., maturing July 2032Priced at E + 425bps with a 0% floor and an OID of 98.5Upsized twice from an initial €500 million, reflecting a heavily oversubscribed order bookCorporate and facility ratings of B3 (Moody’s) and B (S&P), both with stable outlooksBofA acted as Global Coordinator and Left Lead Physical Bookrunner, alongside Barclays. ABN AMRO, BNP Paribas, Citi, ING and J.P. Morgan acted as Bookrunners

Jonathan Thackray, Chief Financial Officer of team.blue, said:
“We set out to extend €500 million of our Term Loan B, and the depth of support from our institutional investor base allowed us to go much further. This reflects confidence in team.blue’s highly recurring, cash-generative model and our position as a leading digital partner for Europe’s SMBs. It gives us the flexibility to keep innovating and investing in the digital and AI-enabled tools our customers rely on.”

About team.blue
team.blue is the pan-European digital partner for small and medium businesses, serving more than 3.5 million customers in 24 countries. From web hosting, domains, email and cloud and AI infrastructure to e-commerce, engagement, payments and compliance tools, team.blue helps SMBs get online, get customers, get paid and stay compliant. Supported by more than 4,000 employees, team.blue’s vision is to make online business success simpler, with artificial intelligence at every step. 

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