证券时报·2025-08-20 12:44Core Viewpoint - Baidu's Q2 2025 financial report shows strong growth in AI-driven new business revenues, particularly in intelligent cloud services, which exceeded 10 billion RMB for the first time, indicating a robust growth momentum in the AI sector [1][5]. Financial Performance - Baidu Group achieved total revenues of 32.7 billion RMB in Q2 2025, with core revenues of 26.3 billion RMB and a net profit of 7.4 billion RMB, reflecting a year-on-year growth of 35% [1][2]. - Online marketing revenue decreased by 15% year-on-year to 16.2 billion RMB, indicating ongoing challenges in the advertising business [5]. - Non-online marketing revenue reached 10 billion RMB, up 34% year-on-year, driven by the growth of AI cloud services [5]. AI Business Growth - The AI new business revenue, including intelligent cloud, surpassed 10 billion RMB for the first time, showcasing a year-on-year growth of 34% [1][5]. - Baidu's intelligent cloud holds a 24.6% market share in China's AI public cloud service market, maintaining its position as the market leader for six consecutive years [6]. Search Transformation - Baidu is undergoing a significant transformation in its search capabilities, with AI-generated content in mobile search results increasing from 35% in April to 64% in July [6]. - The company has launched a major search overhaul, transitioning from traditional hyperlink results to AI-driven answers [6]. Autonomous Driving Expansion - Baidu's autonomous driving service, "Luobo Kuaipao," recorded over 2.2 million global ride services in Q2 2025, a 148% increase year-on-year, positioning it as the global leader in this sector [8][9]. - The service has expanded its global footprint to 16 cities and formed strategic partnerships with Uber and Lyft to deploy autonomous vehicles in Asia, the Middle East, and Europe [9][10]. Market Outlook - The global Robotaxi market is projected to reach between 40 billion to 45.7 billion USD by 2030, with a compound annual growth rate exceeding 60% [9]. - Baidu's partnerships with major ride-hailing platforms are expected to accelerate the global expansion of its autonomous driving services, reshaping the Robotaxi market landscape [9].