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Baidu Inc (HK:9888) saw its shares soar more than 5% to HK$124.30 in Hong Kong trading on Monday, hitting a near two-week high. The rally was fueled by renewed investor optimism surrounding the company’s autonomous driving division and increased holdings by Cathie Wood’s Ark Invest. The strong performance of Baidu also helped lift the Hang Seng Index by about 1%.
Investor confidence surged after Baidu announced a new partnership with Switzerland’s PostBus to deploy its Apollo Go robotaxi service in Europe. This collaboration marks Baidu’s latest step in expanding its global presence in autonomous mobility. Earlier this year, the Chinese tech giant also inked partnerships with U.S.-based ride-hailing firms Lyft and Uber, signaling its ambition to become a dominant player in the international robotaxi market.
The robotaxi industry has been gaining traction among investors, especially amid the ongoing boom in artificial intelligence (AI) innovations. Baidu’s Apollo Go service is already one of China’s leading robotaxi operators, with plans to rapidly scale operations abroad as global demand for driverless transport grows.
Adding to the positive sentiment, Ark Invest—known for its strategic bets on high-growth technology companies—reportedly purchased an additional $6.5 million worth of Baidu shares last week across several of its funds. The move reinforced market optimism about Baidu’s long-term AI potential and expansion strategy.
Baidu’s peer Alibaba Group (HK:9988) also benefited from Ark’s renewed interest, with shares rising in tandem after Ark disclosed fresh investments in the e-commerce giant. Ark Invest’s continued accumulation of Chinese tech stocks reflects growing confidence in the sector’s recovery and its pivotal role in advancing global AI innovation.
