Baidu Inc. became a strategic investor in the Beijing Innovation Center of Humanoid Robotics Co. Ltd. The center raised over $100 million. The funding will advance embodied artificial intelligence. Baidu commits to expanding its footprint in the AI and robotics sectors.
China Renaissance upgraded Baidu from "hold" to "buy." The firm increased its price target to $180.
Penserra Capital Management LLC increased its stake in Baidu by 43.4%. This increase occurred during the third quarter.
Baidu stock declined nearly 3% in pre-market trading.