Baidu's AI Cloud Expansion, Ernie AI Model Success Powers Growth Despite Q3 Revenue Decline

Benzinga

Baidu reported a 3% annual decline in third-quarter revenue but exceeded market expectations due to growth in its AI cloud business. The Beijing-based tech giant operates a major search engine and maps app in China, sells cloud computing services, and generates significant revenue from online marketing. Baidu's AI cloud growth offset weaknesses in online marketing. CEO Robin Li emphasized growing market recognition of Baidu's AI capabilities, highlighted by the increasing adoption of the Ernie generative AI model and chatbot.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Baidu reported a 3% annual decline in third quarter revenue but exceeded market expectations

00:07due to its growth in AI cloud businesses. The Beijing-based tech giant operates a major

00:12search engine and maps also in China, sells cloud computing services, and also generates

00:17significant revenue from online marketing. Baidu's AI cloud growth offset weaknesses

00:22in online marketing, with CEO Robin Li emphasizing that growth market recognition

00:27in Baidu's AI capabilities, highlighted by the increasing adoption of its Ernie-generated

00:32AI model and chatbot. For all things money, visit Benzinga.com slash GSTV.

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