Baidu Group-SW (09888) saw its shares soar 5.43% in intraday trading, reaching HKD 123.7 with a trading volume of HKD 692 million. The surge comes on the heels of Baidu's announcement of a strategic partnership with Switzerland's public transport operator, PostBus, to launch the autonomous mobility service "AmiGo" in Switzerland.

The partnership involves initiating preliminary fleet testing in eastern Switzerland, with aims to transition to regular and fully autonomous operations. This move underscores Baidu's growing presence in the international autonomous driving market, potentially opening new revenue streams for the company.

Adding to the positive sentiment, CCB International highlighted a shift in Baidu's core valuation logic towards AI enhancement. The institution noted that considering cloud and AI applications along with the autonomous driving industry's valuation range, Baidu's search business is currently valued at less than 1 times earnings. As Baidu fully transitions to AI, analysts expect a gradual move towards a long-term value reassessment driven by AI technology, which could further boost investor confidence in the stock.