Baidu Inc Stock Price, News & Analysis

Baidu, Inc. (NASDAQ: BIDU) announced on Sept. 29, 2020, that its Smart Living Group has secured Series A financing, achieving a post-money valuation of approximately $2.9 billion. This investment involves partnerships with CPE, Baidu Capital, and IDG Capital, and is expected to finalize in Q4 2020. Baidu will maintain super voting rights and consolidate SLG’s financial results as a majority shareholder. CEO Robin Li highlighted the rapid growth of SLG since 2017, positioning it as a leader in the voice assistant and smart device market leveraging Baidu’s AI technology.

Sectigo, a leader in digital identity management, has partnered with Baidu (NASDAQ: BIDU) to provide back-end services for the new Baidu Trust SSL Certificates. This collaboration will allow Baidu to offer various types of SSL certificates, enhancing web security for its users in China and expanding Sectigo's reach in Asia. Baidu's initiative aims to simplify technology for users while reinforcing trust through Sectigo's established certificate authority, known for issuing over 100 million certificates globally.

Baidu has launched the XiaoduPods, its first portable smart earbuds, and unveiled DuerOS 6.0 during the Baidu World 2020 event in Beijing. XiaoduPods feature advanced capabilities including built-in real-time translation and voice search, boasting a 28-hour battery life. DuerOS 6.0 enhances AI applications, making smart technology more integrated into daily life, particularly for elderly care and hospitality sectors. Baidu aims to broaden its AI services under its 'breaking boundaries' strategy, focusing on accessibility and tailored functions for diverse user needs.

Baidu (NASDAQ: BIDU) unveiled its Fully Automated Driving technology at Baidu World 2020, showcasing vehicles that can drive autonomously without a safety driver. Key components include pre-installed vehicles, an 'experienced AI driver', and a 5G Remote Driving Service. Apollo's technology has achieved over six million kilometers of testing without accidents. Baidu plans to commercialize unmanned driving by 2025, along with launching a vehicle model with L4 autonomous valet parking in 2021. DuerOS for Apollo has also been integrated into over one million vehicles, highlighting its market dominance in connected and autonomous driving.

Baidu, Inc. (NASDAQ: BIDU) hosted its annual technology conference, Baidu World 2020, showcasing its advancements in AI. Themed 'Intelligence of Everything', it highlighted Baidu Apollo's Fully Automated Driving and 5G Remote Driving Service, emphasizing over six million kilometers of testing with zero accidents. The upgraded DuerOS 6.0 powers the newly launched XiaoduPods earbuds and Duxiaoxiao virtual assistant app. Furthermore, Baidu Brain 6.0 supports AI applications for 2.3 million developers and introduces advanced virtual personas.

Baidu (NASDAQ:BIDU) has launched the Apollo Go Robotaxi service in Beijing, marking the first robotaxi service in China's capital. The service covers a vast area of around 700 kilometers with nearly 100 stations in key districts, making it a pioneer in the autonomous driving sector. Baidu is also the only company operating robotaxi services in multiple Chinese cities, including Changsha and Cangzhou. The company aims to further the commercial application of autonomous driving technology and expand its fleet, which has completed over 519,000 kilometers of road tests in Beijing.

Baidu (NASDAQ:BIDU) launched its Apollo Go Robotaxi service in Cangzhou, Hebei, marking the first robotaxi rollout in downtown China. This initiative expands coverage to 55 stations, including key public areas. Previously, Baidu introduced robotaxi services in Changsha, Hunan, in April 2020. The Cangzhou launch follows extensive testing and aims to enhance autonomous driving accessibility, supported by a human operator in each vehicle for safety. Cangzhou's strategic location and investment in intelligent network technology facilitate this initiative, with Baidu's Apollo platform encompassing 500 autonomous vehicles and over 1,800 driving patents.

Baidu, Inc. (NASDAQ: BIDU) reported its second quarter financial results for 2020, revealing total revenues of RMB 26.0 billion (USD 3.69 billion), down 1% year-over-year. Operating income increased significantly to RMB 3.6 billion (USD 516 million), reflecting a 1,464% increase compared to the previous year. Adjusted EBITDA margin improved to 27%. Baidu Core's adjusted EBITDA margin hit 41%, driven by strong growth in AI businesses. The company returned US$540 million to shareholders and raised the share repurchase program to US$3 billion. Guidance for Q3 2020 expects revenue between RMB 26.3 billion and RMB 28.7 billion.

Baidu, Inc. (NASDAQ: BIDU) will report its Q2 2020 financial results on August 13, 2020, after the U.S. market closes. The earnings conference call is scheduled for 9:15 PM ET on the same day. Pre-registration is required to access the call, and a webcast will be available live and archived on Baidu’s investor relations website. Baidu continues to be a significant player in the internet and AI sectors, aiming to simplify complex technology interactions for users.