Baidu to Ramp Up Investments in Cloud Computing, Artificial Intelligence

Baidu (NASDAQ: BIDU) is making a big push into cutting-edge IT segments. The company announced Thursday that it will be allocating more capital to investments in developing corners of the market, particularly artificial intelligence (AI), cloud computing, and data centers. This project will unfold over the next 10 years, in an attempt by the China-based company to build out assets for future tech needs. This piggybacks on the Chinese government's ambition to develop what it calls "new infrastructure" throughout the country to dramatically modernize its economy. Baidu did not specify how much it would spend on its new infrastructure efforts.