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AIRev. $4.62B, -4% YoY
Baidu's Ad Business Craters as AI Cloud Grows 25%
Baidu's Q2 revenue fell 4% to $4.62 billion as online advertising dropped 19% on China's weak consumer demand, even as its AI cloud and applications segment grew 25% to ¥12.5 billion -- a split that shows AI revenue scaling far too slowly yet to offset a legacy business in decline.
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Alibaba, Baidu Jump on Reported Apple AI Tie-Up
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Alibaba, Baidu Jump on Reported Apple AI Tie-Up
Alibaba and Baidu shares rose sharply in Hong Kong trading on reports that Apple is partnering with Chinese AI providers to power AI features for iPhones sold in China.