AI新业务首破百亿，“长跑者”百度啃下硬骨头

Core Insights - Baidu's Q2 2025 financial report shows total revenue of 32.7 billion yuan, with core net profit increasing by 35% to 7.4 billion yuan, and AI new business revenue surpassing 10 billion yuan for the first time, growing by 34% year-on-year [1][2] - The company's AI strategy is characterized by long-term investment and a full-stack approach, allowing it to establish a strong foothold in both B-end and C-end markets [3][4] Financial Performance - Total revenue for Q2 2025 reached 32.7 billion yuan, with a core net profit of 7.4 billion yuan, marking a 35% year-on-year increase [1] - AI new business revenue exceeded 10 billion yuan for the first time, reflecting a 34% year-on-year growth [1] AI Business Development - Baidu's "LuoBo Kuaipao" service achieved 2.2 million global ride-hailing services in Q2, a 148% increase year-on-year, and has completed over 14 million services cumulatively, ranking first globally [4][6] - The company has established partnerships with Uber and Lyft to deploy thousands of autonomous vehicles across Asia, the Middle East, and Europe [4][6] Strategic Positioning - Baidu's full-stack AI capability, which includes chips, frameworks, models, and applications, has become a core competitive advantage in the B-end market [7][9] - Baidu's intelligent cloud revenue grew by 27% year-on-year in Q2, with Non-GAAP operating profit also increasing [7][9] Market Leadership - Baidu's intelligent cloud has maintained the top position in China's AI public cloud service market for six consecutive years, with a market share of 12.2% in the financial sector [7][9] - The company has secured 48 major projects related to large models in the first half of 2025, leading in both the number and value of contracts [7][9] C-End Innovations - Baidu is actively innovating in the C-end market, with significant advancements in search and digital human technologies [11][12] - The AI-generated content in mobile search results increased from 35% in April to 64% in July, indicating a shift towards structured and intelligent responses [13][14] Long-Term Vision - Baidu's AI new business revenue crossing the 10 billion yuan mark is viewed as the beginning of a long-term strategy rather than a final victory [18][20] - The company emphasizes that AI requires sustained investment and patience, with a focus on building a technology ecosystem rather than relying on single products [20]