China's Baidu soars 16% to hit 2-year highs amid positive signs for its AI business
Baidu has launched a slew of AI applications after its Ernie chatbot received public approval. Chinese tech giant Baidu saw its shares in Hong Kong soar nearly 16% on Wednesday as it increasingly focuses on its artificial intelligence-related business that has also led to a ratings upgrade. 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 came after equity research fi