Baidu Plans Future In AI And Autonomous Driving

Alphabet Inc's GOOG GOOGL Google counterpart Baidu Inc BIDU launched its second-generation artificial intelligence chip, its first robocar, and a rebranded driverless taxi app at the annual Baidu World Conference, CNBC reports.
Baidu's AI and the autonomous driving move seems well-timed to tap the gradual pandemic recovery despite the intense Chinese regulatory crackdown on the tech companies. Its robotaxis already have a presence in China.
Reuters reports that Baidu announced the mass production of its second-generation 7 nm AI chip Kunlun 2, which even supports autonomous driving. The move marks China's self-dependence in chip production, proving a dampener for chipmakers like Qualcomm Inc QCOM and NVIDIA Corp NVDA.
Baidu's robocar with auto-pilot functionality includes L5 level of autonomous driving functionality rendering it safer than human drivers, Global Times reports. Interestingly, Tesla Inc's TSLA autopilot is already subject to a U.S. regulatory probe.
The robocar's doors open up like wings and a big screen inside for entertainment.
It can assist passengers in arranging their schedules and booking hotel and flight tickets.
The robocar has voice control and face recognition capability to analyze passenger needs. It can improve itself in different driving scenarios.
Baidu also announced four new pieces of hardware, including a smart screen and a TV equipped with the company's AI voice assistant Xiaodu.
Baidu recently disclosed its plans to raise debt for an undisclosed amount.
Price Action: BIDU shares traded higher by 1.41% at $144.39 in the premarket session on the last check Wednesday.