Bloomberg on Nostr: Baidu Revenue Growth Slows as China Economy Overshadows AI Push ========== Baidu ...
Baidu Revenue Growth Slows as China Economy Overshadows AI Push
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Baidu Inc.'s revenue for Q1 2024 grew at the slowest pace in over a year, with a 1% increase to 31.5 billion yuan ($4.4 billion). Net income for the same period was 5.4 billion yuan. Baidu is betting on generative AI, particularly its Ernie model, to drive future growth and reduce reliance on search ads. However, the economic downturn in China has impacted its core advertising business. Baidu expects Ernie to contribute several billion yuan in additional sales through advertising and cloud services this year. The company's AI push in autonomous driving, including its robotaxi service and partnership with Tesla, could see quicker returns.
#Baidu #China #Ai #RevenueGrowth #Ernie #AutonomousDriving
https://www.bloomberg.com/news/articles/2024-05-16/baidu-revenue-growth-slows-as-china-economy-overshadows-ai-push
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Baidu Inc.'s revenue for Q1 2024 grew at the slowest pace in over a year, with a 1% increase to 31.5 billion yuan ($4.4 billion). Net income for the same period was 5.4 billion yuan. Baidu is betting on generative AI, particularly its Ernie model, to drive future growth and reduce reliance on search ads. However, the economic downturn in China has impacted its core advertising business. Baidu expects Ernie to contribute several billion yuan in additional sales through advertising and cloud services this year. The company's AI push in autonomous driving, including its robotaxi service and partnership with Tesla, could see quicker returns.
#Baidu #China #Ai #RevenueGrowth #Ernie #AutonomousDriving
https://www.bloomberg.com/news/articles/2024-05-16/baidu-revenue-growth-slows-as-china-economy-overshadows-ai-push