Baidu, Inc. (NASDAQ: BIDU) has gained +11.61 at the time of writing on Monday. The strong performance of the firm has highlighted the positive views of investors after the firm disclosed that it has teamed up with China Huaneng Group Co., Ltd after signing the MoU. Baidu has gained a reputation as an AI firm with a solid internet base.
As per the partnership, Baidu will utilize its abilities in AI-powered new infrastructure to assist Huaneng to consolidate the digital economy with the energy and power industry, which will optimize the effectiveness and experience of the user. Both the firms have signed MoU to engage in an agreement that has multiple features. This cooperation includes information technology, digital technology, and other relevant fields.
Through their partnership, both the firms will collaborate to develop cutting-edge computerized and intelligent financial shared services platforms, Furthermore, BIDU and Huaneng will collaborate to deploy AI and big data technologies to the energy and power field.
Shares of Baidu Inc headed high during the trading session of Monday and reached 4.30%. The firm has reported a trading volume of 5.09 million as compared to the average volume of 10.03 million. In the past 52-weeks of low and high range, its share has oscillated $82.00 and $354.82, respectively. Baidu Inc has a total market capitalization of $100.34 billion.
The collaboration supports the investments of Baidu in AI technologies, cloud computing, and big data, which focus on assisting various industries. Baidu AI Cloud plans to team up with more energy industry allies to speeding up the building of smart energy systems and quickly deploy new infrastructure to a more environmentally friendly and more smart energy future.