Baidu Takes Quantum Leap with Donation of Advanced Computing Lab to Beijing Academy

China's tech giant Baidu, Inc BIDU has announced plans to donate its quantum computing laboratory and equipment to the Beijing Academy of Quantum Information Sciences (BAQIS), a government-supported institution. 

The decision comes as Baidu continues to work out specific arrangements with BAQIS. 

This move mirrors a similar step taken by Alibaba Group Holding Limited BABA, which disclosed its intention to wind down its quantum computing laboratory at Zhejiang University as part of a more significant corporate restructuring in November, Reuters reports.

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Founded in 2018, Baidu's quantum computing research center has contributed significantly to the field under the leadership of Tsinghua University graduate Duan Runyao. 

Among its notable achievements is the development of Qian Shi, a quantum computer launched in 2022. 

The BAQIS, established in December 2017, is a collaborative initiative by the Beijing municipal government and leading academic institutions such as the Chinese Academy of Sciences and Tsinghua University.

Baidu's partnership with BAQIS has been around for a while, as both entities have previously collaborated in quantum research. 

They jointly established China's first quantum computing industry intellectual property alliance in March last year, highlighting their commitment to advancing this cutting-edge technology. 

This latest move by Baidu underscores the ongoing evolution and realignment within China's tech sector, especially in quantum computing.

Price Action: BIDU shares traded lower by 0.09% at $115.24 on the last check Wednesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.