Baidu (BIDU) Ends 4-Day Losses on Global Expansion Deal With Uber

We recently published Lackluster Tuesday? Not for These 10 Stocks on Sky High. Baidu, Inc. (NASDAQ:BIDU) is one of Tuesday's top performers.

Baidu snapped a four-day losing streak on Tuesday, jumping 8.65 percent to close at $93.30 apiece following news that it partnered with ride-hailing giant Uber Technologies Inc. to deploy the former’s Apollo Go vehicles globally.

In a statement, Baidu, Inc. (NASDAQ:BIDU) said it entered into a multi-year partnership with Uber for the deployment of Apollo Go on the latter’s platform across multiple global markets outside the US and China.

Baidu, Inc. (NASDAQ:BIDU) said the first deployments are expected to kick off in Asia and the Middle East later this year.

Upon launching, this would expand options for Uber riders and have their trip fulfilled by a fully driverless Apollo Go.

At present, Apollo Go deploys more than 1,000 fully driverless vehicles globally with its global footprint spanning 15 cities, including Dubai and Abu Dhabi.

“We are committed to bringing the benefit of autonomous driving technology to more people in more markets, and this partnership with Uber represents a major milestone in deploying our technology on a global scale,” said Baidu, Inc. (NASDAQ:BIDU) Chairman and CEO Robin Li.

“We look forward to working with Uber to deliver safe and efficient autonomous mobility solutions to riders around the world.”

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Disclosure: None. This article is originally published at Insider Monkey.