While Baidu is best known as the ‘Google of China’, generating the bulk of its revenue from search, it’s the tech giant’s AI capability that has investors excited.
Headquartered in Beijing, China, Baidu Inc. (NASDAQ: BIDU, HK: 9888) is the largest search engine provider in the country and one of the biggest tech conglomerates globally.
An email from Goldman Sachs to clients has detailed an extraordinary block trade spree which resulted in tens of billions being wiped from the value of Chinese big tech stocks. One PM said he's seen nothing like it in his 25 year career.