AI新业务首破百亿，“长跑者”百度啃下硬骨头

Core Viewpoint - Baidu's AI new business revenue has surpassed 10 billion yuan for the first time, marking a significant milestone in its long-term investment and full-stack layout in the AI sector [1][3][21] Group 1: Financial Performance - In Q2 2025, Baidu reported total revenue of 32.7 billion yuan, with core net profit increasing by 35% year-on-year to 7.4 billion yuan [1] - AI new business revenue reached 10 billion yuan, reflecting a year-on-year growth of 34% [1] Group 2: Strategic Insights - Baidu's strategy is characterized by long-term investment and a full-stack AI layout, enabling it to establish a foothold in both B-end and C-end markets [3][10] - The company's unique end-to-end four-layer AI architecture has become a core competitive advantage, driving healthy growth in its smart cloud business [3] Group 3: AI Application Success - The "Luobo Kuaipao" service achieved a remarkable performance, completing 2.2 million global ride-hailing services in Q2, a year-on-year increase of 148% [5][7] - Baidu's early investments in autonomous driving technology since 2013 have positioned it as a leader in the global Robotaxi industry [7][8] Group 4: B-end Market Dynamics - Baidu's intelligent cloud revenue grew by 27% year-on-year, with non-GAAP operating profit also increasing [10] - The company has secured a leading position in the AI public cloud service market, with a 12.2% market share in the financial sector [10][12] Group 5: C-end Innovations - Baidu is actively innovating in the C-end market, with significant upgrades to its search functionality and the introduction of digital human technology [15][16] - The digital human business saw a 55% quarter-on-quarter revenue increase, reaching approximately 500 million yuan [16][19] Group 6: Long-term Vision - Baidu's AI new business revenue exceeding 10 billion yuan is viewed as the starting point of a long-term strategy rather than a final victory [21][24] - The company emphasizes the importance of continuous technological iteration and commercial depth in the competitive AI landscape [21][22]