Overview

• Baidu’s U.S. shares set an intraday high of $124.79 and closed up 7.81% at $123.79 on September 18.
• Arete Research upgraded Baidu’s ADRs to buy from sell, highlighting potential from AI chips and cloud services.
• Jefferies raised its price target to $157 and reaffirmed a buy rating, citing improving AI monetization prospects.
• Baidu announced a partnership with China Merchants Group to develop large language models, AI agents and digital employee tools for industrial use.
• The company reported plans to issue $56.2 million in bonds due 2029 to help finance its AI initiatives.