Baidu stock jumps as Chinese tech giants build own AI chips
Baidu shares rose 5% premarket after reports said it and Alibaba are deploying self-developed chips in AI models, reducing reliance on Nvidia amid US curbs. Baidu's Hong Kong stock gained 8.1%. The move boosts optimism on Chinese AI resilience. BIDU is up 34% this year, trailing Alibaba's 86% rally.