- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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