We recently published a list of Top 8 AI News Updates on Wall Street’s Radar. In this article, we are going to take a look at where Baidu, Inc. (NASDAQ:BIDU) stands against other top AI news updates on Wall Street’s radar.
As xAI’s Grok became the top app on the Google Play Store, its owner, Elon Musk, revealed a major development at his AI startup. The wealthiest person on Earth revealed Friday that xAI had acquired X, formerly Twitter, in an all-stock transaction, valuing his social media platform X at a staggering $33 billion.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk wrote. “This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach…The combined company will deliver smarter, more meaningful experiences to billions of people while staying true to our core mission of seeking truth and advancing knowledge. This will allow us to build a platform that doesn’t just reflect the world but actively accelerates human progress.”
Elsewhere, OpenAI is reportedly in advanced negotiations to close a record funding round of $40 billion. The round, led by SoftBank, would value OpenAI at $300 billion, which is double compared to its valuation in October 2024. SoftBank is expected to invest $7.5 billion initially and $22.5 billion in the latter half of this year.
The AI-based humanoid robot industry also made headlines after Realbotix announced that it will showcase an advanced intelligence robot at the DiscoveryX expo in mid-April. The AI-powered humanoid robot, Aria, will demonstrate the company’s efforts to integrate AI, robotics, and human connection through direct interaction with conference attendees.
“DiscoveryX is a great event to showcase how far we’ve come in developing emotionally intelligent, interactive AI,” said Realbotix CEO Andrew Kiguel. “Aria isn’t just a robot – she’s a glimpse into the future of personalized, human-centric technology.”
According to a Goldman Sachs report led by research analyst Jacqueline Du, the total addressable market for humanoid robots could reach $38 billion by 2035, which is over six times higher than a previous estimate of $6 billion.
We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of the number of hedge funds that hold stakes in them, as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A modern internet space with a person using Baidu services on a laptop.
Baidu Inc. (NASDAQ:BIDU)
Number of Hedge Fund Followers: 50
Baidu, Inc. (NASDAQ:BIDU) is a Chinese technology company offering AI and internet services, including video streaming and discussion forums. The company’s search engine is the most popular in the country. In recent years, the company has accelerated its AI investments to position itself as a leader in the mainland’s dynamic tech landscape.
On March 28th, Baidu Inc. (NASDAQ:BIDU) said its autonomous ride-hailing platform, Apollo Go, executed a strategic cooperation agreement with the Roads and Transport Authority of Dubai to roll out autonomous driving testing and services across the city. The agreement will see Apollo Go deploy 100 fully autonomous vehicles in urban Dubai by 2025-end, with plans to scale the fleet to at least 1,000 by 2028.
“We see strong synergy between our mission and Dubai’s ambitious vision for autonomous transportation. It is a privilege to partner with the RTA and support its goal of making 25% of the city’s transportation autonomous by 2030. With Apollo Go’s proven success in China and Baidu’s cutting-edge expertise in AI and autonomous driving, we are excited to introduce safe, efficient, and sustainable autonomous mobility solutions to the region.”
-said Yunpeng Wang, corporate vice president of Baidu Inc.”
Overall, BIDU ranks 5th on our list of top AI news updates on Wall Street’s radar. While we acknowledge the potential of BIDU as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BIDU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
