09888

CLOU

BIDU

<p>Li Yanhong emphasized in the conference call that "application is more important than the model," and the value of the model ultimately needs to be reflected through application. He made it clear that Baidu will adhere to an application-driven development path, continuously feeding back and iterating model capabilities based on real demand. In terms of autonomous driving, he is confident in the global scaling expansion of Apollo Go and expects that more cities will achieve positive unit economics in the future, further validating the sustainability of its business model</p>

- Baidu's annual report highlights a significant growth in AI-driven revenue, particularly from AI cloud infrastructure and autonomous driving, contributing 43% to total revenue in Q4 2025.  
- Despite this growth, traditional business declines led to an overall revenue drop of 3% for the year, accompanied by a $162 billion asset impairment loss, signaling financial pressure during the transition.  
- In response, Baidu announced a $5 billion share buyback plan and a spin-off of its AI chip subsidiary, Kunlun, aiming to focus on its core AI business and improve shareholder returns.

Wallstreetcn

BIDU-SW

Global X Cloud Computing ETF

Baidu

Baidu conference call: AI Cloud revenue will reach 30 billion yuan by 2025, computing power subscriptions increased by 143% year-on-year in Q4, and "Carrot Run" orders surged by 200%