Baidu stock jumped nearly 16% in Hong Kong on Wednesday, supported by its growing focus on artificial intelligence businesses and an upgraded credit rating, while its U.S.-listed shares climbed 8% in the previous session.
Hong Kong — The rally followed a recommendation upgrade from Aret Research Services, which shifted its view on Baidu from “sell” to “buy”, citing a positive outlook for revenue from the company’s AI chip segment and cloud computing services.
Baidu has been aggressively expanding in AI semiconductors and computing infrastructure, areas that power its large language model and conversational AI platform, Ernie Bot.
Analysts said the upgrade reflects renewed confidence in Baidu’s strategy to leverage artificial intelligence as a long-term growth driver, positioning the company as a key player in China’s tech sector despite rising global competition.
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