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Baidu’s AI Push Falters on Earnings | Business and Finance News
Description
Baidu’s stock tumbled over 11% as Wall Street grows impatient with its AI investment pace, despite a 25% jump in core AI cloud revenue and a 50% surge in AI services. Q2 earnings missed targets, with overall revenue down 4% and ad revenue plunging 19%, while streaming iQIYI also lagged. Investors are wary, trading the stock at a premium based on past performance but questioning its future value amid slower-than-expected returns.
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