Baidu, Inc. (BIDU) experienced an increase of 5.39% in the premarket. However, the last trading session closed at $163.63 with an incline of 0.57%.
BIDU and China Gas Collaboration
On 21st September 2021, BIDU has signed a strategic partnership agreement to use Baidu AI Cloud. This will accelerate digital and intelligent transformation in the energy and power sectors. Moreover, the firms will also look at commercial options that help them reach a carbon-emissions peak and, eventually, carbon neutrality. With a worldwide focus on smart energy and environmental protection, cloud and AI technologies are proving to be indispensable tools for improving efficiency.
Baidu will accelerate China Gas’ migration to the cloud and use its AI skills to create customized apps. The apps include smart monitoring, smart scheduling, gas use prediction, and smart customer services. In addition, BIDU AI Cloud is one of China’s top four network infrastructure providers, offering a comprehensive spectrum of cloud services and solutions that are distinguished by AI. Lastly, Baidu AI Cloud had a major update in July 2021, positioning it for success in a variety of areas, including the Internet, media, telecom, banking sectors, logistics management, education, and manufacturing.
Smart New Energy Heavy-Duty Truck to Automate Road Freight
On 17th September 2021, BIDU revealed about Xingtu. It is a smart new energy heavy-duty vehicle with more than 500 TOPS of processing power and ultra-long-range sensing capabilities. BIDU has announced its foray into the multi-trillion-dollar global freight sector. Moreover, Xingtu is an example of the future generation of automobiles. Between 2024 and 2026, the first generation of Xingtu will offer L3 self-driving on high-speed freight routes, with L4 capability on the same routes.
To be commercially successful, autonomous driving must employ sophisticated driverless technology to develop new goods that provide the ultimate experience. Furthermore, the company wants to provide value in real-world scenarios like people transportation, distribution, and life services. This next type of truck isn’t simply a modified truck; it’s a robot truck.
BIDU reported about Series B at $5.1 Billion Valuation
BIDU announced that Xiaodu Technology has concluded its Series B fundraising at a post-money valuation of $5.1 billion on 24th August 2021. The company is excited to watch Xiaodu’s quick development, which is utilizing Baidu’s AI and vast content and services mobile ecosystem to transform the way hardware delivers value to customers. Moreover, Xiaodu entered the market in 2018 with sub-RMB 100 smart speakers and quickly rose to become the world’s leading smart-display vendor based on shipments. DuerOS is expanding Internet usage at home and becoming the command center for IoTs. After the transaction, BIDU retains a supermajority stake in the company. Lastly, Xiaodu Series A completed with a post-money valuation of $2.9 billion in November 2020.
