It’s a slang term that’s sprung up out of - some say the ghetto, some say Florida. Nobody knows.
Mostly its used about and to someone you love, you’re sweet on or someone you admire. Probably short (!) for babe - just dropping the second b makes it more ...well I don’t know.
Do you think it makes it more intimate? E.g. I love you, bae
You can use it when you’re speaking to anyone you love - your sweetie, honey, boyfriend, crush...
Billy, my bae
Bae, u r my girl
I need you bae!
Come here, bae
He’s bae. He’s my everything!
Some people say it means Before Anything Else...
....My youngest sister Bertha is my mum’s first priority - and she puts her BAE.
In the Urban Dictionary you can look and see it can mean quite a few other things - some not quite so nice!
Here's a video of some slang words that just don't hit the spot for some including bae!