野村：百度对人工智能前景保持乐观 维持美股目标价98美元

Group 1 - Nomura's report indicates that Baidu (BIDU.O) recently launched two upgraded versions of its LLM models, 4.5Turbo and X1Turbo, focusing on cost reduction and multi-model performance [1] - Baidu expects the average cost of LLMs to continue decreasing, with the capabilities of top-tier models like 4.5Turbo being sufficient to meet many user needs, laying a solid foundation for the rise of AI applications [1] - The report highlights Baidu's exploration of AI application potential through various self-developed AI applications, including the AI-driven programming tool Miaoda, which allows coding using natural language [1] Group 2 - The most notable application mentioned is the Robotaxi, which utilizes a significant amount of Baidu's AI technology [1] - Despite geopolitical risks, Baidu remains optimistic about the future of AI [1] - Nomura maintains a target price of $98 for Baidu's US stock and a "neutral" rating [1]