Parallels are continually drawn between Baidu Inc (ADR) (NASDAQ:BIDU) and Google, and it looks like the two massive companies will have even more in common moving forward. The China-based company is taking a page out of Google’s book by aggressively expanding into other areas.
CNBC has the news on Baidu.
Online search provider Baidu — referred to as the Google of China — has been expanding aggressively into cutting edge technology such as artificial intelligence and autonomous vehicles.
The Chinese tech titan is one of the largest internet companies in the world with a strong user base, thanks in no small part to China’s massive population of 1.4 billion people.
Baidu is one of the most visited websites in the entire world, and a staggering 70 percent of all searches in China go through its platform. A big chunk of the company’s revenue comes from online advertising, but it also offers up services such as a news platform, maps, images, and video.
Recently, the company has been heavily investing in autonomous vehicle projects, and the word is that it’s looking to take its tech to other markets as well.
Baidu Inc (ADR) shares were trading at $224.06 per share on Friday morning, up $1.64 (+0.74%). Year-to-date, BIDU has declined -4.33%, versus a 9.96% rise in the benchmark S&P 500 index during the same period.
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