Benzinga | Aug 18, 2021 05:32AM EDT

Baidu Plans Future In AI And Autonomous Driving

* Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google counterpart Baidu Inc (NASDAQ:BIDU) launched its second-generation artificial intelligence chip, its first robocar, and a rebranded driverless taxi app at the annual Baidu World Conference, CNBC reports.

* Baidu's AI and the autonomous driving move seems well-timed to tap the gradual pandemic recovery despite the intense Chinese regulatory crackdown on the tech companies. Its robotaxis already have a presence in China.

* Reuters reports that Baidu announced the mass production of its second-generation 7 nm AI chip Kunlun 2, which even supports autonomous driving. The move marks China's self-dependence in chip production, proving a dampener for chipmakers like Qualcomm Inc (NASDAQ:QCOM) and NVIDIA Corp (NASDAQ:NVDA).

* Baidu's robocar with auto-pilot functionality includes L5 level of autonomous driving functionality rendering it safer than human drivers, Global Times reports. Interestingly, Tesla Inc's (NASDAQ:TSLA) autopilot is already subject to a U.S. regulatory probe.

* The robocar's doors open up like wings and a big screen inside for entertainment.

* It can assist passengers in arranging their schedules and booking hotel and flight tickets.

* The robocar has voice control and face recognition capability to analyze passenger needs. It can improve itself in different driving scenarios.

* Baidu also announced four new pieces of hardware, including a smart screen and a TV equipped with the company's AI voice assistant Xiaodu.

* Baidu recently disclosed its plans to raise debt for an undisclosed amount.

* Price Action: BIDU shares traded higher by 1.41% at $144.39 in the premarket session on the last check Wednesday.