Baidu, a privately owned Chinese company founded in 2000, is primarily involved in software development. As of 2023, it employed approximately 26,120 people and generated revenue exceeding $1 billion. While best known as China's leading internet search engine, Baidu also focuses on several other technological areas, including artificial intelligence cloud services, video streaming, voice recognition, and autonomous driving technology. Its headquarters are located in China.
Baidu received a business offer from its CEO and the CEO of Qiyi.com Inc. Skadden advised Baidu on a CNY4.4 billion Regulation S senior notes offering. Baidu shares increased significantly in Hong Kong due to growing optimism surrounding its AI chip potential. On an unspecified Wednesday, Baidu's stock jumped over 19% following an initiative to expand its AI business. The provided text also mentions Alibaba Group Holding's investment in the robotaxi market, but this is unrelated to Baidu's activities.
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