TECH - Baidu's Market Value Propels As Robotaxi Apollo Go Soars In Popularity | Benzinga
Baidu Inc (NASDAQ:BIDU) saw its shares surge by the most in over a year, driven by growing interest in its Apollo Go robotaxi service in China.
Baidu’s stock climbed as much as 13% in Hong Kong, following an 8.5% rise in the U.S. on Tuesday. The stock is trading higher Wednesday.
Traders are optimistic that robotaxis will gain further support following Beijing’s recent announcement that it will back them for ride-hailing and car rental services, Bloomberg reports.
Also Read: Alibaba and Baidu Slash AI Prices Amid Fierce Competition: Report
Guotai Junan International analyst Li Muhua told Bloomberg, “Autonomous driving will turn into a key trade in the coming three months, aided by Tesla Inc’s (NASDAQ:TSLA) launch of its robotaxi next ...