China's Baidu sees shares soar 12% as company secures major AI partnership, eyes fresh capital
1. Baidu's shares rose by 12% due to AI advancements. 2. The company secured a deal with China Merchants Group for AI applications. 3. Baidu disclosed a $56.2 million bond offering to fund AI initiatives. 4. Competitors like Tencent are also increasing investment in AI capabilities. 5. Baidu focuses on large language models and AI agents for industrial intelligence.