Baidu, Inc. - BIDU STOCK NEWS

Baidu, Inc. (NASDAQ: BIDU) announced it has filed a preliminary prospectus supplement with the SEC for a proposed sale of senior notes. The net proceeds will be utilized for general corporate purposes and to repay existing debt, while also financing eligible projects per its Sustainable Finance Framework. The offering will be underwritten by Goldman Sachs, BofA Securities, and J.P. Morgan. This announcement is not an offer for securities in the U.S., and detailed information is available at SEC's website.

Baidu, Inc. (NASDAQ: BIDU) will host its annual technology conference, Baidu World, virtually on August 18, 2021, in partnership with CCTV News. The event, themed "For the era we love, for the sea of stars", will showcase Baidu's latest AI advancements and their practical applications in daily life, including improvements in smart cities and transportation. Key executives, including CEO Robin Li, will lead sessions highlighting innovations in Baidu Brain and Kunlun chips. The livestream begins at 9:30 AM Beijing Time, with updates available on various platforms.

Baidu, a leading AI company, reported strong financial results for Q2 2021, with total revenues growing 20% year over year to RMB 31.4 billion ($4.86 billion). Baidu Core revenue surged 27%, driven by a 71% increase in AI cloud services. However, the company faced a net loss of RMB 583 million ($90 million) largely due to a RMB 3.1 billion loss from long-term investments. Despite this, Baidu's free cash flow reached RMB 5.4 billion ($843 million). Looking ahead, Baidu estimates Q3 revenues between RMB 30.6 billion ($4.7 billion) and RMB 33.5 billion ($5.2 billion), a growth of 8% to 19% year over year.

Baidu has launched the Apolong II, an advanced multi-purpose autonomous minibus, in Guangzhou's Huangpu District. Equipped with superior autonomous driving technology mirroring the Apollo Robotaxi, Apolong II features significant upgrades including a threefold increase in computing power to 372 Tops and improved LiDAR sensors for enhanced navigation. It aims to revolutionize smart transportation by serving diverse needs in public transport, healthcare, and more. With a proven history in urban settings since 2018, Apolong II is set to enhance user experiences and address the last mile problem effectively.

Baidu, Inc. (Nasdaq: BIDU) will release its financial results for Q2 and the first half of 2021 on August 12, 2021, prior to U.S. market opening. An earnings conference call is scheduled for 8:00 AM U.S. Eastern Time on the same day. Investors can register for the call via the provided link to receive dial-in details. A webcast will be available live and archived on Baidu's investor relations site. The company aims to simplify technology for users and is a prominent player in the AI sector.

Baidu's CEO, Robin Li, emphasized the transformative potential of AI during his keynote at the WAIC, advocating for technology that enhances human life and promotes social value. He announced plans to expand Baidu's Apollo Go robotaxi services across 30 cities in China within three years, aiming for affordable autonomous ride-hailing. Li highlighted AI's role in addressing challenges like an aging population and economic growth, alongside Baidu's commitment to achieving carbon neutrality by 2030. The company seeks to foster a low-carbon society while driving industry innovation.

Baidu (NASDAQ: BIDU) has announced its ambition to attain carbon neutrality in operations by 2030, focusing on six operational areas including data centers, smart office buildings, and intelligent transportation. The strategy includes enhancing energy efficiency, utilizing renewable energy, and implementing carbon offset measures where necessary. Baidu aims to leverage its AI capabilities to support industry stakeholders in emission reduction efforts. Post-2030, the company plans to work towards becoming carbon negative, aligning with China's broader carbon neutrality goals by 2060.

Baidu, Inc. (NASDAQ:BIDU) has announced a collaboration with BAIC Group's ARCFOX to launch the Apollo Moon robotaxi. Over the next three years, a fleet of 1,000 autonomous EVs will be mass-produced at a cost of RMB 480,000 each, significantly lower than the industry average of RMB 1.5 million. This partnership aims to enhance the commercialization of fully autonomous ride-hailing in urban areas of China. Baidu's Apollo has previously accumulated over 12 million kilometers in testing, leading to advancements in intelligent driving technology.

Baidu, a leading AI company, reported a 25% year-over-year revenue increase in Q1 2021, reaching RMB 28.1 billion ($4.29 billion). Non-advertising revenue surged 70%, underscoring its strong growth in AI-driven services. The company’s net income soared to RMB 25.7 billion ($3.92 billion), driven by significant gains from long-term investments. Baidu's financial guidance for Q2 2021 anticipates revenue between RMB 29.7 billion and RMB 32.5 billion, representing a year-over-year growth of 14% to 25%. The company remains committed to heavy investments in R&D to support AI advancements.