Baidu Briefly Added to U.S. Military Companies List, Infini Capital Sells $4.4M Stake
The U.S. Department of Defense briefly included Baidu on its Chinese military companies list before withdrawing the submission, delaying the designation to next week. Infini Capital sold 33,399 Baidu shares for $4.4 million after the company reported a $2.2 billion impairment charge and an 18% annual advertising revenue decline.
1. U.S. Military Companies List Inclusion
The Department of Defense submitted its 1260H list of Chinese firms with alleged military ties, adding Baidu alongside other major companies under a congressional mandate targeting military–civil fusion participation.
2. Submission Withdrawal and Delay
Shortly after filing, the Pentagon requested removal of the updated list from the Federal Register website, postponing the public release until next week as officials finalize the designations before an upcoming U.S.–China summit.
3. Infini Capital Liquidates Baidu Stake
Infini Capital Management fully exited its Baidu position on February 13, disposing of 33,399 shares for approximately $4.4 million after Baidu recorded a $2.2 billion impairment and an 18% drop in annual advertising revenue.