Reported about 2 months ago
Baidu's revenue has decreased as it struggles to shift from traditional search advertising to AI-driven services during China's economic slowdown. The company reported a slight drop in revenue to 33.9 billion yuan ($4.7 billion) for the quarter, as it faces fierce competition in the AI market from rivals like Alibaba and Tencent. Baidu’s attempts to monetize its AI initiatives, including the Ernie language model, have not yet resulted in significant profits, and the company's reliance on advertising continues to be a major concern amid a challenging economic landscape.
Source: YAHOO