Tech Stocks Slip After AI Rally
Shares of technology companies took a hit as the AI rally came to a standstill. Despite this, Nvidia shares saw a slight decrease of more than 1%, remaining up by…
Baidu to Host 100,000 People in Metaverse Conference This Month
(Baidu) Baidu has set December 27 as the date for the release of its meta-universe product “Hirang,” with the app also hosting the Baidu AI Developer Conference. Baidu says the…
Tech Giants Rush for Custom-Made Chips as Competition and Shortages Hots Up
(CNBC) Tech giants led by Apple, Amazon, Tesla, Facebook, and Baidu are exploring the idea of custom-made chips by in-house development. The move towards in-house chip development by tech giants…
Baidu Defies Beijing Tech Sector Crackdown to Raise $1 Billion in ESG Bond
(Reuters) Internet giant Baidu Inc. has issued a two-tranche US dollar sustainability bond, generating $1 billion. The two-tranche bond comprised a 5.5-year and 10-year bond, which raised $300 million and…
Baidu Dips to RMB583M Loss in Q2 Despite an Uptick in Its AI Cloud Business
(Baidu Inc.) Baidu Inc. reported a net loss of RMB583million or $90 million in the second quarter, down from RMB 3.6 billion profit in the same period last year. The…
Tencent, 11 other Firms Fined By Chinese Regulator for Violating Anti-Monopoly Rules
China’s State Administration for Market Regulation has fined 12 companies involved in 10 deals that violated anti-monopoly rules, according to Reuters. The companies were fined 500,000 Yuan or $77,000 and…
Baidu and Geeely Reportedly Settle for Mobike’s Co-founder as CEO
China’s search engine giant Baidu and automaker Geely have hired Mobike co-founder Xia Yiping as CEO of their new electric vehicle venture, according to Reuters. The new venture aims to…