China’s Baidu soars 16% to hit 2-year highs as company secures AI partnership, launches debt sale

Chinese tech giant Baidu saw its shares in Hong Kong soar nearly 16% on Wednesday as the company ramps up its artificial intelligence plans and partnerships. Shares in the Beijing-based firm, which holds a dominant position in China’s search engine market, had gained nearly 8% overnight in U.S. trading. The strong stock performance comes after Baidu earlier this week secured an AI-related deal with China Merchants Group, a major state-owned enterprise, focused on transportation, finance, and property development.

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