Fri, Sep. 16, 3:37 AM
- Baidu (NASDAQ:BIDU) has received a permit to test its self-driving car in California, becoming the 15th company to receive approval from the Golden State.
- After unveiling its autonomous vehicle in China last December, Baidu has been steadily increasing its investments in the sector and has already tested its prototype on Chinese roads and highways.
Tue, Sep. 13, 8:58 AM
- Saying it would power Baidu's (NASDAQ:BIDU) mapping and autonomous vehicle technology, Nvidia (NASDAQ:NVDA) has revealed a smaller and more efficient artificial intelligence computer for self-driving cars, called Drive PX 2.
- Earlier this month, the two companies announced a partnership to develop a full cloud-to-vehicle autonomous car architecture using their expertise in AI.
Thu, Sep. 1, 7:46 AM
- Speaking at the annual Baidu World conference, Nvidia (NASDAQ:NVDA) CEO Jen-Hsun Huang announced he would work with Baidu (NASDAQ:BIDU) to build a self-driving car platform whose algorithm-based operating system would include cloud-based, high-definition maps and the ability to perceive and react to different road environments.
- "No company in the world today has demonstrated the ability to integrate this system and deploy it at scale for millions of cars to drive by themselves," he said. "We are going to bring together our technical capabilities and expertise in AI" to make this happen.
Thu, Aug. 25, 8:28 AM
- Singapore became the first country in the world to offer a self-driving taxi service with the targeted launch of nuTonomy. A full roll-out of an autonomous taxi service across the nation is expected as early as 2018.
- While self-driving cars from Google (GOOG, GOOGL), Baidu (NASDAQ:BIDU), and others have been out testing on the roads for the last few years, nuTonomy's service is the first commercial application of the nascent technology open to public use. Uber (Private:UBER) plans to test self-driving cars in Pittsburgh next month.
- NuTonomy will use human drivers as backups in the initial roll-out of the Renault (OTC:RNSDF, OTCPK:RNLSY) Zoe and Mitusubishi (OTCPK:MMTOF) i-MiEV taxis before moving to full autonomy.
- Other companies with autonomous vehicles on their radar include Mobileye (NYSE:MBLY), Delphi Automotive (NYSE:DLPH), Volvo (OTCPK:GELYF), Ford (NYSE:F), Tesla Motors (NASDAQ:TSLA), Toyota (NYSE:TM), Hertz Global (NYSE:HTZ), Avis Budget (NASDAQ:CAR), Nissan (OTCPK:NSANY), BMW (BAMXY), Intel (NASDAQ:INTC), Honda (NYSE:HMC), FedEx (NYSE:FDX), Lyft (Private:LYFT), and General Motors (NYSE:GM) to name just a partial list -- although analyzing which stocks may benefit from a future of a mix of self-driving cars on the road is a tricky business.
- Previously: Scientists warn on self-driving car rush (July 8)
- Previously: Self-driving car push adds a little buzz for restaurants (Aug. 6)
Tue, Aug. 16, 8:16 AM
- Ford (NYSE:F) and Baidu (NASDAQ:BIDU) announce that they invested $75M each in sensor developer Velodyne LiDAR.
- Velodyne aims to be a leading producer of mass market sensors for self-driving cars.
- "This investment will accelerate the cost reduction and scaling of Velodyne’s industry-leading LIDAR sensors, making them widely accessible and enabling mass deployment of fully autonomous vehicles," says Velodyne CEO David Hall.
Tue, Aug. 2, 1:17 PM
- July monthly performance was: +4.77%
- 52-week performance vs. the S&P 500 is: -8%
- No dividends were paid in July
- Top 10 Holdings as of 6/30/2016: Tencent Holdings Ltd. (OTCPK:TCTZF): 8.99243%, Ping An Insurance (Group) Co. of China Ltd H (OTCPK:PIAIF): 8.32846%, Alibaba Group Holding Ltd ADR (BABA): 8.29751%, Baidu Inc ADR (BIDU): 8.09289%, JD.com Inc ADR (JD): 7.18603%, Ctrip.com International Ltd ADR (CTRP): 5.75736%, NetEase Inc ADR (NTES): 3.16258%, China Minsheng Banking Corp Ltd H (OTCPK:CGMBF): 2.61595%, Hengan International Group Co Ltd (OTCPK:HEGIF): 2.59126%, New Oriental Education & Technology Group Inc ADR (EDU): 2.16007%
Thu, Jul. 28, 4:33 PM
Wed, Jul. 27, 5:35 PM
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Mon, Jul. 25, 10:10 AM
- Robin Li, founder of Chinese search giant Baidu (BIDU -1.5%), has dropped a pursuit of the firm's iQiyi streaming service that was criticized for being too low.
- Li and Yu Gong had led an investor group to offer to buy out Baidu's 80.5% of the service for $2.8B, but couldn't come to terms on the offer.
- Shareholders led by hedge fund Acacia Partners had slammed that price as "far too low" and offered up a competing outside valuation of $5.8B.
Fri, Jul. 1, 8:25 AM
- June monthly performance was: -1.59%
- 52-week performance vs. the S&P 500 is: -20%
- $0.21 in dividends were paid in June
- Top 10 Holdings as of 5/31/2016: Tencent Holdings Ltd. (OTCPK:TCTZF): 8.58481%, Baidu Inc ADR (BIDU): 8.46586%, Ping An Insurance (Group) Co. of China Ltd H (OTCPK:PIAIF): 8.40212%, Alibaba Group Holding Ltd ADR (BABA): 8.39867%, JD.com Inc ADR (JD): 8.17121%, Ctrip.com International Ltd ADR (CTRP): 6.09856%, NetEase Inc ADR (NTES): 2.85051%, Hengan International Group Co Ltd (OTCPK:HEGIF): 2.72358%, China Minsheng Banking Corp Ltd H (OTCPK:CGMBF): 2.32601%, New Oriental Education & Technology Group Inc ADR (EDU): 2.11677%
Mon, Jun. 27, 4:01 AM
- China's internet regulator has issued new guidelines for online search and advertising about six weeks after it opened an investigation into Baidu's (NASDAQ:BIDU) practices following the death of Wei Zexi, a college student who underwent an experimental cancer therapy found through an online ad.
- The rules require search companies to provide "objective, fair and authoritative results," identify and label paid ads clearly and limit the number of them per page.
Mon, Jun. 13, 5:46 PM
- Baidu (NASDAQ:BIDU) now expects Q2 revenue of RMB18.1B-RMB18.2B ($2.807B-$2.823B), below prior guidance of RMB20.11B-RMB20.58B and an RMB20.1B consensus.
- The Chinese search giant blames: 1) Ongoing regulatory probes of its online ad practices for "medical, pharmaceutical, healthcare and other similar businesses," and stricter ad regulations for medical organizations. 2) Fewer sponsored links on Baidu's online ad platform.
- Baidu adds regulatory probes are "being rolled out with varied timing with different levels of implementation and interpretation across geographies," and that medical advertisers are delaying their spending as the probes continue. "These customers may be in the process of receiving instruction from regulatory authorities, gathering and submitting required documentation and adjusting their practices to comply with new regulations."
- BIDU -7.4% after hours to $151.39.
Mon, Jun. 6, 10:07 AM
- Search giant Baidu (BIDU +1%), messaging/gaming giant Tencent (OTCPK:TCEHY), and #2 Chinese e-commerce firm JD.com (JD +1.8%) are each investing $50M in leading Chinese online auto platform Bitauto (BITA +12%). Bitauto is also selling $150M worth of convertible bonds to investment firm PAG.
- Baidu, Tencent, and JD are each buying 2.47M Bitauto shares at $20.23 apiece ($0.23 below Friday's close). The deal follows JD and Tencent's $1.55B 2015 investment in the company, and respectively leaves JD, Tencent, and Baidu holding 23.5%, 7.1%, and 3.2% stakes.
- The bonds are due five years from issuance, and carry a 2% interest rate and $23.67/share conversion price. Owners of the convertible debt will hold an 8.2% stake. Bitauto chairman/CEO William Li will be buying a portion of the debt through PAG, by means of a total return swap agreement.
- Bitauto is up sharply. Rival Autohome (ATHM +3.2%) is posting moderate gains. Li: "Through our new partnership with Baidu, we expect to leverage its leadership in mobile and desktop online search, big data and transaction services platforms for additional strategic advantages as we continue to create the industry leading new and used car purchasing experience for customers in China."
Fri, Jun. 3, 1:21 PM
- Baidu (BIDU -1.4%) wants to have autonomous vehicles in mass production by the year 2021, and says it's already testing its model on public roads in a few Chinese regions, including Beijing.
- The company is hoping to test in 10 cities across China, Baidu's Wang Jing said at a conference Friday, in hopes of seeing a variety of driving conditions.
- The search giant joined a crowded market this year and cemented its plans as it launched a U.S. self-driving car team in April.
- But “the market right now is very early so it’s big enough for many players,” Wang said. “I don’t think anyone can dominate this area.”
Thu, Jun. 2, 8:44 AM
- May monthly performance was: -2.75%
- 52-week performance vs. the S&P 500 is: -26%
- No dividends were paid in May
- Top 10 Holdings as of 4/29/2016: Baidu Inc ADR (BIDU): 9.11%, Ping An Insurance (Group) Co. of China Ltd H (OTCPK:PIAIF): 8.79%, JD.com Inc ADR (JD): 8.39%, Tencent Holdings Ltd. (OTCPK:TCTZF): 7.8%, Alibaba Group Holding Ltd ADR (BABA): 7.79%, Ctrip.com International Ltd ADR (CTRP): 5.75%, Hengan International Group Co Ltd (OTCPK:HEGIF): 2.69%, China Minsheng Banking Corp Ltd H (OTCPK:CGMBF): 2.3%, NetEase Inc ADR (NTES): 2.23%, WH Group Ltd (OTC:WHGRF): 2.13%
Tue, May 10, 4:00 AM
- Baidu's (NASDAQ:BIDU) chief executive has called on employees to put values before profit in response to a scandal surrounding the death of a student who underwent an experimental cancer treatment he found on the company's search website.
- "If we lose the support of users, we lose hold of our values, and will truly go bankrupt in just 30 days," Robin Li wrote in a letter.
- The controversy has prompted regulators to impose curbs on the advertising business Baidu relies on for the lion's share of its income.