11 Best Very Cheap Stocks to Buy According to Hedge Funds

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6. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 33

Forward P/E Ratio: 11.64

Baidu, Inc. (NASDAQ:BIDU) is one of the best very cheap stocks to buy according to hedge funds. On August 22, Kunlunxin, a Chinese semiconductor firm majority-owned by Baidu (59%), announced it had secured over 1 billion yuan ($139 million) in AI chip orders for China Mobile. The chips, compatible with Nvidia’s CUDA platform, will be supplied to top-tier vendors like H3C Technologies and ZTE, as China intensifies efforts to build domestic alternatives to Nvidia’s GPU dominance.

China Mobile also awarded contracts to a Huawei-linked firm using its CANN architecture, a CUDA equivalent. While developers still rely heavily on Nvidia’s ecosystem, Kunlunxin’s chips offer strong CUDA compatibility, making them more cost-effective for developers transitioning away from foreign tech.

Earlier this year, Baidu revealed it had deployed 30,000 third-generation P800 Kunlun chips to support large-scale AI model training. Alongside Huawei’s Ascend, Baidu’s Kunlun chips are part of a growing wave of Chinese-made GPUs aiming to challenge Nvidia’s market share and bolster national tech self-sufficiency.

Baidu, Inc. (NASDAQ:BIDU) is a major technology company in China, best known for operating the country’s most popular search engine. It’s also a leader in artificial intelligence, investing significant effort and resources in developing smart technologies that power everything from online services to self-driving cars.

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