Baidu Shares Higher

Baidu’s ADRs climbed more than 1.5% intraday after COO Lu Qi said the China-based search engine has been shifting its business focus to artificial intelligence (AI) applications from Internet services, according to a report from DigiTimes. Speaking at the company’s first AI developer conference Baidu Create, which was recently held in Beijing, the COO said Baidu has the world’s largest artificial neural network, a large AI center with more than 2,000 research & development staff members and a tremendous volume of data.

Baidu, with its experience, expertise and a large volume of data from operating online search services, has the competence and opportunities to promote the development of AI technology and applications, Lu was cited as saying in the news report.