Green’s Dictionary of Slang

bae n.

[AAE pron. babe n. (3); acronym before anyone else is pop. ety]
(US)

1. the object of one’s affection; popularized by ‘bae caught me slippin’’ [i.e. sleeping] meme associated with pictures taken of a sleeping subject and uploaded to social media.

[US]C. Eble (ed.) UNC-CH Campus Sl. Spring 2014 1: BAE — /be/ < before anyone else, or shortening of baby Lover or significant other: ‘My bae and I are going to celebrate our third anniversary next Friday.’ .
‘Chelsea G. Summers’ in Hazlitt.net 8 Jan. 🌐 Let me put it this way: if you told your bae your wick was lit and you wanted to play at rumpscuttle and clapperdepouch, she would be in the dark.
Harlem Spartans ‘Call me a Spartan’ 🎵 Bae love cussing me b, treat me or leave get out of my bed.
[UK]Digga D. ‘Pump 101’ 🎵 Before we fuck, bae, I beg you sign this NDA (Come on).

2. used adj. to denote someone or something of which one is exceptionally fond.

[US]C. Eble (ed.) UNC-CH Campus Sl. Spring 2014 Fall 1: BAE [...] Anything that makes one happy: ‘This ice cream sundae with sprinkles is bae’.
[US]C. Eble UNC-CH Campus Sl. Spring 2016 1: BAE [...] Exhibiting qualities that inspire devotion: ‘Chris is so cute. He’s bae’.
languagejones.com 15 June 🌐 Bae How the white mainstream uses it: (1) equivalent to ‘cool,’ ‘good,’ or ‘desirable.’ The white mainstream uses it as a predicate adjective, so you see things like ‘Coffee is bae!’.