10 Trending AI Stocks on Wall Street’s Radar

7. Baidu Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 50

Established in 2000, Baidu Inc. (NASDAQ:BIDU) is a multinational technology company that operates the biggest search engine platform in China. The nearly 33-billion-dollar company is known for a host of Internet services such as music streaming, maps, translation, and e-commerce. But central to its market positioning is its status as one of the first movers in AI, encompassing an intricate infrastructure made up of AI chips, deep learning framework, and core AI capabilities.

On March 5, Baidu disclosed the pricing of its CNY10 billion senior unsecured notes offered via offshore transactions outside the US. The offer consists of CNY7.5 billion notes due 2030 with an interest of 2.70%, and CNY2.5 billion notes due 2035, bearing a 3% interest, according to a regulatory filing. The capital raise is expected to close by March 12. Baidu said it will use pooled funds for general corporate purposes. The notes are expected to be listed on the Hong Kong Stock Exchange. Baidu’s analyst rating consensus is a “Moderate Buy” based on the ratings of 15 Wall Street analysts.