Artificial intelligence (AI) is advancing at breakneck speed, reshaping industries and fueling a global tech race. With governments backing AI innovation and companies pouring billions into research,
Baidu, Bonds and hong kong stock exchange
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Baidu Seeks $2 Billion in Bonds Exchangeable Into Trip.com Shares
Baidu Announces Pricing of US$2 Billion Offering of Zero Coupon Exchangeable Bonds
Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under "BIDU" and HKEX under "9888". One Baidu ADS represents eight Class A ordinary shares.
Baidu Announces Proposed Offering of Exchangeable Bonds
BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), ('Baidu' or the 'Company'), a leading AI company with strong Internet foundation, today announced that it proposes to offer up to US$2 billion in aggregate principal amount of exchangeable bonds due 2032 (the 'Bonds') in offshore transactions outside the United States to non-U.
The search-engine firm last month reported a 2 per cent decline in quarterly revenue and faces intensifying competition in the AI arena.
Baidu Inc. has acquired the YY Live streaming platform from Joyy Inc., concluding a drawn-out deal that had been in the works since 2020.
China's Baidu will launch the next generation of its artificial intelligence model Ernie in mid-March, which will see improved capabilities in areas such as reasoning, a source with direct knowledge of the matter said.
Now, Baidu has finally bought the business, known as YY Live, after Beijing softened its stance towards the tech sector following a regulatory crackdown four years ago. JOYY had received about $1.86 billion in February 2021 as part of the original agreement and an additional cash of about $240 million on Tuesday.
China's Baidu and electric vehicle battery giant CATL will jointly explore the development of "competitive" driverless vehicles and innovative business models, the companies said on Thursday.
The Notes Offering consists of CNY7.5 billion of 2.70% notes due 2030 and CNY2.5 billion of 3.00% notes due 2035. The Company expects to close the Notes Offering on or about March 12, 2025, subject to the satisfaction of customary closing conditions.
Investors are watching closely as Baidu makes a high-stakes bet, leveraging Trip.com shares in a massive debt deal.
CHINESE technology firm Baidu raised US$2 billion in a sale of bonds exchangeable into the Hong Kong shares of online travel agency Trip.com Group, matching the biggest ever US dollar offering in the format by an Asian issuer.
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