Why Are Baidu's Shares Trading Higher Today?

Baidu Inc's BIDU Xiaodu Technology closed Series B financing at a post-money valuation of $5.1 billion, beating the November 2020 Series A funding valuation of $2.9 billion.
Xiaodu marked its 2018 debut with sub-RMB 100 smart speakers and became a leading smart-display provider based on shipments, Baidu CFO Herman Yu said.
Rivals Apple Inc AAPL recently disclosed its attempts to improvise Siri against Alphabet Inc (NASDAQ; GOOG) GOOGL, Google Assistant, and Amazon.com Inc's AMZN Alexa.
Baidu just posted its Q2 beat amid an intense Chinese regulatory crackdown.
Price Action: BIDU shares traded higher by 3.50% at $147.76 in the premarket session on the last check Tuesday.