Baidu Co., Ltd. (NASDAQ:BIDU) has formed closer ties with U.S. tech giants including: Apple (NASDAQ:AAPL) and tesla company (NASDAQ:TSLA) is taking advantage of China’s overseas data transfer restrictions to expand its focus beyond its traditional search business.
According to reports, Apple is in preliminary discussions to incorporate Baidu’s generative AI technology into its devices. CEO Tim Cook’s opening of the Shanghai store underscores Apple’s ambitions in the country despite geopolitical tensions.
According to a report in Nikkei Asia, Baidu is reducing its dependence on advertising revenue by strengthening its cloud services and focusing on AI and self-driving technology.
Also read: Xpeng CEO welcomes Tesla’s entry into FSD China ‘with open arms’, saying it will help ‘move the entire industry forward’
Baidu is deepening cooperation with Tesla, especially in the field of autonomous driving. Baidu’s head of self-driving technology, Xu Baoqiang, expressed interest in exploring a partnership with self-driving taxis.
Since partnering with Tesla to provide map data for Tesla cars in China in 2020, Baidu has provided lane-level navigation data that is expected to support the deployment of Tesla’s Fully Self-Driving (FSD) system in China. We plan to provide it.
Baidu uses advanced LiDAR systems for self-driving technology, while Tesla leverages cameras and economical computers, showing potential areas for growth together.
During Tesla’s recent earnings call, Elon Musk expressed his ambition to launch FSD in new markets, including China. FSD is a key technology in achieving Tesla’s vision of full autonomy.
Tesla is reportedly considering establishing a data center in China to meet its self-driving development goals.
Price Action: BIDU stock is trading at $105.95 at last check on Tuesday, down 2.68% pre-market.
Disclaimer: This content was created in part using AI tools, and reviewed and published by Benzinga editors.
Baidu Photos Tested on Shutterstock
“The Active Investor’s Secret Weapon” Step up your stock market game with the #1 News & Everything else trading tool: Benzinga Pro – Click here to start your 14-day trial now!
Want the latest stock analysis from Benzinga?
This article: Despite US-China tensions, Baidu strengthens ties with Apple and Tesla for major role in AI and autonomous technologies
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
