Reported about 17 hours ago
Baidu reported first-quarter revenue of 32.45 billion yuan, exceeding analysts' expectations due to increased demand for its AI cloud services. The company maintains that U.S. export controls on semiconductors will not majorly impact its AI initiatives, thanks to domestic alternatives. While Baidu's online marketing revenue dipped, its non-online marketing earnings soared by 40% year-over-year, driven by AI innovations. CEO Robin Li emphasized the company's commitment to AI development amidst competition from local startups.
Source: YAHOO