Baidu’s shares jumped 12% in Hong Kong trading on September 17, after the company announced a new AI partnership and plans for funding. Its US shares also rose 9% overnight.

Earlier this week, Baidu secured an AI-focused deal with China Merchants Group to collaborate on large language models, AI agents, and digital employee technologies for industrial use cases.

Baidu’s AI efforts include its Ernie Bot chatbot, which has gained traction after regulatory approval.

The company also revealed a 4.4 billion yuan (US$56.2 million) offshore bond offering due in 2029 to support its AI initiatives.

Other Chinese tech firms, including Tencent, have raised funds this year as competition in the local AI sector intensifies.

🔗 Source: CNBC

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