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Stock Alert: Baidu Up 6%

Shares of Baidu Inc. (BIDU) are rising almost 6 percent or $7.31 in Monday's morning trade at $130.61. Beijing-based Baidu is a provider of internet search services in China and internationally.

U.S. stocks are rising on Monday following strength in the Asian as well as European markets and amid optimism about the U.S. economic outlook following last Thursday's better than expected jobs data.

Last Thursday, Baidu announced it will increase its investments in cloud computing, AI education, AI platforms, chipsets, and data centers in the coming ten years, as part of its efforts to construct "new infrastructure" for the smart economy of the future. Under the plan, Baidu said it aims to have 5 million intelligent cloud servers by 2030 and train 5 million AI professionals within the next five years.

The stock has traded in a range of $82.00 to $147.38 in the past 52 weeks.

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