Reported about 12 hours ago
Baidu Inc., a leader in AI, reported its largest revenue drop in over two years, with a 3% decline to 33.6 billion yuan in the third quarter of 2024. This downturn, attributed to China's economic challenges, highlights the company's struggles to monetize its AI offerings despite ambitious plans for its Ernie AI model and autonomous vehicles. While the firm continues to innovate, it faces mounting competition from rivals like ByteDance and ongoing pressures in advertising revenue, particularly from key sectors like automotive and real estate.
Source: YAHOO