Baidu Inc Stock Price, News & Analysis

Baidu, Inc. (Nasdaq: BIDU) has priced a public offering of $1 billion in notes, comprising $300 million in 1.625% notes due 2027 and $700 million in 2.375% notes due 2031. The offering, expected to generate net proceeds of approximately $990 million, will be used for general corporate purposes, including debt repayment and financing of eligible projects under its Sustainable Finance Framework. The joint bookrunners include Goldman Sachs, BofA Securities, and J.P. Morgan.

Baidu unveiled significant AI advancements during its Baidu World 2021 conference, highlighting a future transformational impact on transportation and daily life. Key announcements include the L5 autonomous robocar, the Luobo Kuaipao robotaxi platform, and Xiaodu's first smart TV. Baidu Brain 7.0 and the 2nd generation Kunlun AI chip were also featured, promising enhanced performance. Additionally, Baidu AI Cloud reported a 71% year-over-year growth. These innovations demonstrate Baidu's commitment to making AI more accessible and efficient across various sectors.

Baidu showcased its AI advancements on August 18, 2021, by launching the Baidu Brain 7.0 and starting mass production of the Kunlun II AI chip. These developments were unveiled at Baidu World 2021, highlighting Baidu's expertise in AI technology. The Kunlun II chip boasts 2-3 times the processing power of its predecessor and is designed for various applications, including autonomous driving and smart cities. Additionally, over 3.6 million developers have utilized Baidu's PaddlePaddle platform, creating significant AI models for diverse industries.

Baidu held its annual conference, Baidu World 2021, revealing plans for a new robotaxi platform and a vision for future autonomous vehicles, termed 'robocars.' CEO Robin Li emphasized the transition to autonomous driving 2.0, aiming for large-scale commercial operations. By Q2 2021, the Baidu Apollo service provided over 400,000 rides and covered 8.7 million miles. Baidu's advancements in intelligent mobility, including AI-driven traffic solutions, are positioned to transform the transportation landscape, contributing to a projected $347 billion ride-hailing market in China by 2030.

Baidu, Inc. (NASDAQ: BIDU) announced it has filed a preliminary prospectus supplement with the SEC for a proposed sale of senior notes. The net proceeds will be utilized for general corporate purposes and to repay existing debt, while also financing eligible projects per its Sustainable Finance Framework. The offering will be underwritten by Goldman Sachs, BofA Securities, and J.P. Morgan. This announcement is not an offer for securities in the U.S., and detailed information is available at SEC's website.

Baidu, Inc. (NASDAQ: BIDU) will host its annual technology conference, Baidu World, virtually on August 18, 2021, in partnership with CCTV News. The event, themed "For the era we love, for the sea of stars", will showcase Baidu's latest AI advancements and their practical applications in daily life, including improvements in smart cities and transportation. Key executives, including CEO Robin Li, will lead sessions highlighting innovations in Baidu Brain and Kunlun chips. The livestream begins at 9:30 AM Beijing Time, with updates available on various platforms.

Baidu, a leading AI company, reported strong financial results for Q2 2021, with total revenues growing 20% year over year to RMB 31.4 billion ($4.86 billion). Baidu Core revenue surged 27%, driven by a 71% increase in AI cloud services. However, the company faced a net loss of RMB 583 million ($90 million) largely due to a RMB 3.1 billion loss from long-term investments. Despite this, Baidu's free cash flow reached RMB 5.4 billion ($843 million). Looking ahead, Baidu estimates Q3 revenues between RMB 30.6 billion ($4.7 billion) and RMB 33.5 billion ($5.2 billion), a growth of 8% to 19% year over year.

Baidu has launched the Apolong II, an advanced multi-purpose autonomous minibus, in Guangzhou's Huangpu District. Equipped with superior autonomous driving technology mirroring the Apollo Robotaxi, Apolong II features significant upgrades including a threefold increase in computing power to 372 Tops and improved LiDAR sensors for enhanced navigation. It aims to revolutionize smart transportation by serving diverse needs in public transport, healthcare, and more. With a proven history in urban settings since 2018, Apolong II is set to enhance user experiences and address the last mile problem effectively.

Baidu, Inc. (Nasdaq: BIDU) will release its financial results for Q2 and the first half of 2021 on August 12, 2021, prior to U.S. market opening. An earnings conference call is scheduled for 8:00 AM U.S. Eastern Time on the same day. Investors can register for the call via the provided link to receive dial-in details. A webcast will be available live and archived on Baidu's investor relations site. The company aims to simplify technology for users and is a prominent player in the AI sector.