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Baidu invests US$200 million in Chinese AI firm Neusoft to develop smart city solutions

Chinese search engine giant Baidu is investing 1.44 billion yuan (US$202 million) in industrial artificial intelligence (AI) firm Neusoft Holdings to develop smart city, health care and education infrastructure.“Neusoft is an industry leader in … smart cities … and AI cloud for hospitals and the education sector,” said Baidu in a statement on Tuesday. “The collaboration between Baidu and Neusoft … is cooperation between an internet firm and a solutions provider to explore leading AI technology… Source link

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Baidu beats sales estimates after Chinese search leader holds off ByteDance

Baidu Inc.’s quarterly revenue beat analysts’ estimates after China’s biggest search giant managed to hold onto advertising despite a challenge from aggressive rivals like ByteDance Inc.Revenue rose 1.4 per cent to 26.33 billion yuan ($3.84 billion) for the three months ended June 30, beating the 25.8 billion yuan average of analysts’ estimates. The company’s shares rose 8.4 per cent in extended trading.China Internet Report 2019Baidu’s better-than-expected results will soothe investors’… Source link

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Baidu expands cloud services in Singapore to catch up with rivals Alibaba, Tencent

Internet search giant Baidu has launched cloud computing services in Singapore, as the company moves to catch up with Chinese rivals Alibaba Group Holding and Tencent Holdings in Southeast Asia’s biggest information technology market.Nasdaq-listed Baidu will focus on supporting mainland Chinese companies expanding in the region, as well as meeting the requirements of domestic firms for “high-performing, secured and reliable” cloud services, the company said in a statement on Monday.It is… Source link

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Baidu falls further behind among China’s biggest tech firms as Meituan, NetEase overtake in market value

Baidu Inc. has fallen out of the top five most valuable publicly traded Chinese internet companies after its market capitalisation slid below that of gaming and e-commerce pioneer NetEase Inc.After a 40 per cent slide in its share price this year, Baidu’s market valuation stood at US$33.2 billion at the close of trading on Wednesday, compared with US$33.5 billion for NetEase, whose shares have risen by 11.4 per cent in the same period. Baidu declined to comment on its market valuation.Baidu… Source link

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TikTok creator ByteDance moves into search business to rival Baidu

When Google pulled out of China in 2010, it left local market leader Baidu a de facto monopoly in the lucrative internet search business. Now that franchise is facing its most ominous threat yet.ByteDance, an innovative Beijing start-up that created the hit short video-sharing app TikTok, is moving into search in a threat to the advertising business that has fuelled Baidu’s profit. ByteDance, known for aggressively recruiting top tech talent, is turning its attention to one of the most… Source link

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Baidu founder Robin Li's water attacker detained as drenching incident goes viral

The man who drenched Baidu’s billionaire co-founder Robin Li Yanhong with water as he was giving a presentation at the company’s annual tech event in Beijing on Wednesday will be detained for five days for the offence.Chaoyang district police announced the detention on their Weibo account on Thursday after concluding an investigation into the stunt, which shocked attendees, stole the limelight from the company’s latest AI announcements and sparked a social media frenzy in China.The man,… Source link

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Chinese tech giants Tencent, Baidu and JD.com spend more to find new revenue sources amid slowing growth

Three of China’s biggest tech companies are expected to report that they ramped up or broadly maintained their pace of quarterly spending to develop new technology and push into relatively new markets, as current growth drivers stall.Used to rapid growth rates until recently, Chinese tech giants including Tencent and Baidu are seeking new revenue streams. But that has not come cheap as they shell out more to hire the best in a competitive job market and keep spending to attract customers in a… Source link

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Baidu to speed up promotion of younger talent as 53-year-old president Zhang Yaqin opts for retirement

Baidu said it will promote more employees in their 20s and 30s to management as part of efforts to speed up leadership renewal at the search engine and autonomous driving company.As part of the plan, Zhang Yaqin, 53, its president of new business, opted for early retirement under a new programme for senior executives.Formerly a senior executive at Microsoft in Asia, Zhang joined Beijing-based Baidu in 2014, overseeing among other things the restructuring and commercialisation of its cloud and… Source link

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Baidu, Chery launch electric car with face-scanning payment, AR navigation features

Baidu, China’s largest internet search services provider and a national champion in artificial intelligence, has jointly launched with Chery Automobile its first production-model electric vehicle built with an AI operating system, escalating efforts by domestic car manufacturers to embed more advanced technologies into their products.A new version of the Exeed TX, an electric sports utility vehicle that Chery first sold in China last year, will have Baidu’s DuerOS, an AI platform that supports… Source link

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