Baidu Inc Stock Price, News & Analysis

Baidu's electric vehicle unit, JIDU, has successfully raised nearly $400 million in Series A financing, with backing from Baidu and Geely. This funding will accelerate R&D and mass production of JIDU's Robocar, set to debut in April 2022 at the Beijing Auto Show and launch in 2023. JIDU, founded in March 2021, has gained recognition for its rapid development and plans to enhance its talent pool in advanced autonomous driving and smart manufacturing. CEO Yiping Xia emphasized the commitment to delivering innovative products that redefine transportation.

Baidu, Inc. (NASDAQ: BIDU) and IDC released China's first white paper on AI's role in achieving the 'Dual Carbon' goals. The report estimates AI technologies could reduce over 35 billion tons of carbon emissions by 2060. Highlighting the importance of technology in carbon neutrality, Baidu plans to leverage AI in transportation, aiming to cut urban transport emissions by over 70 million tons by 2030. The white paper indicates that AI's contribution to carbon reduction could reach 70% by 2060. Baidu aims for carbon neutrality in its operations by 2030, focusing on various strategic areas.

Baidu (NASDAQ: BIDU) launched its annual developers' conference, Baidu Create 2021, focusing on its metaverse app XiRang. The event marks China's first metaverse technology symposium, attended by 100,000 online participants. CEO Robin Li emphasized AI's transformative potential across industries, particularly in intelligent transportation, which he predicts will alleviate urban congestion and reduce traffic accidents by 90%. Baidu also introduced XiLing, a digital avatar platform, and highlighted its PaddlePaddle deep-learning platform with over 4 million developers.

Baidu, Inc. (NASDAQ: BIDU) will host its inaugural metaverse conference, Baidu Create, on December 27. The event, accessible to 100,000 online participants, will feature esteemed speakers and discussions on key areas like AI, autonomous driving, and quantum computing. Attendees can engage in a virtual environment using avatars to experience iconic Chinese landmarks. The event will be streamed live on Baidu's YouTube channel, showcasing the company's technological advances and innovations.

Baidu, Inc. held an extraordinary general meeting on December 7, 2021, in Beijing, where key resolutions were approved. The Company will change its name to 'Baidu, Inc. 百度集团股份有限公司' and amend its Memorandum and Articles of Association. These updates aim to reinforce its identity as a leading AI entity. Shareholder approval was granted for the filing of necessary documents in the Cayman Islands and Hong Kong, reflecting Baidu's commitment to organizational transparency and alignment with international standards.

Baidu has received approval for the commercial operation of its autonomous car service, Apollo Go, in Beijing, marking a significant milestone in its journey towards large-scale commercial deployment. The service is authorized to charge for rides in a designated 60 square kilometer area with over 600 pick-up and drop-off points. As of Q3 2021, Apollo Go provided 115,000 rides, establishing Baidu as the world leader in autonomous car services. Baidu aims to expand operations to 65 cities in China by 2025 and 100 cities by 2030, with the autonomous car service market expected to exceed RMB1.3 trillion.

Baidu (NASDAQ:BIDU) has partnered with Sanofi to integrate its mRNA design optimization platform, LinearDesign, into Sanofi's product pipeline. This collaboration aims to enhance mRNA sequences for therapeutic uses beyond COVID-19. The LinearDesign platform, developed to improve the stability and efficacy of mRNA vaccines, builds on previous algorithms like LinearFold and LinearPartition. Baidu's commitment to advancing computational biology is set to transform drug discovery and deliver innovative mRNA therapies to the global healthcare community.

Baidu reported its Q3 2021 financial results, showing total revenues of RMB 31.9 billion ($4.95 billion), up 13% year-over-year. Baidu Core revenues increased by 15% to RMB 24.7 billion ($3.83 billion). However, the company faced a net loss of RMB 16.6 billion ($2.57 billion), largely due to a non-cash loss in long-term investments. Operating income dropped 63% to RMB 2.3 billion ($358 million). The AI Cloud revenue saw a notable growth of 73% year-over-year. Baidu anticipates Q4 revenues between RMB 31 billion and RMB 34 billion, reflecting a growth rate of 2% to 12% year-over-year.