Why BlackBerry's Autonomous Driving Deal With Baidu Is Significant

BlackBerry signed a deal with Chinese internet giant Baidu to jointly develop self-driving vehicle technology, in what is seen as a shot in the arm for BlackBerry's automotive ambitions. BlackBerry's stock rose by about 13% in Wednesday's trading following the announcement. While BlackBerry has been partnering with several companies that intend to use QNX for their autonomous driving systems, the Baidu deal is notable as it could give the company greater traction in China, the world's largest automotive market. We have a $9 price estimate for BlackBerry which is below the current market price. Baidu's Approach To Autonomous Cars Is Focused On Scale Baidu, which is primarily known for its search engine, it is also a leader in the development of deep learning and artificial intelligence.