Baidu’s shares soared by 9% after news broke that Ark Invest purchased 870,000 shares of the Chinese tech company. This surge comes as Baidu continues to invest heavily in its autonomous driving unit, Apollo, with plans to launch a robotaxi service in Beijing. The company’s market cap now stands at $80.2 billion.

Read more at Investing.com: Baidu shares surge on robotaxi bets, Ark share buying