百度越过临界点，开启价值重估

Core Viewpoint - The article emphasizes that Baidu's recent stock price surge is not merely a rebound but a delayed value reassessment, reflecting the company's significant internal restructuring and transformation into an AI platform company [1][3]. Group 1: Baidu's AI Strategy and Transformation - Baidu has integrated its AI strategy into its core business, showcasing a comprehensive capability demonstration at the Baidu World Conference 2025, marking a shift from being viewed solely as a search engine to a full-stack AI platform [3][6]. - The company has built a robust AI infrastructure over the past decade, which is difficult for competitors to replicate in the short term, positioning itself as a leader in AI and cloud computing [6][12]. - Baidu's AI capabilities have been internalized into its operations, leading to significant upgrades in its core businesses, such as search and cloud services, enhancing user experience and engagement [12][13]. Group 2: Product Development and Market Position - The new generation of Kunlun chips, designed for AI applications, is set to launch in the coming years, with significant performance and cost advantages, already being deployed in major enterprises and universities [10][11]. - Baidu's deep learning platform, PaddlePaddle, serves as the foundation for its AI applications, supporting a wide range of functionalities and becoming a preferred choice for developers [11][12]. - The company has achieved a leading position in the AI search market, with active user numbers reaching 382 million by September 2025, reflecting the effectiveness of its AI integration [13]. Group 3: External Empowerment and Industry Impact - Baidu's AI capabilities are not only enhancing its internal operations but also empowering external partners, with significant adoption among state-owned enterprises and major financial institutions [14]. - The autonomous driving service "Luobo Kuaipao" has become a key growth driver, with over 250,000 fully autonomous orders per week, establishing Baidu as a pioneer in the global autonomous driving sector [15][16]. - The company's strategic focus on long-term AI development and commercial application has led to a fundamental change in its business model, transitioning from a traditional internet company to a comprehensive AI platform [16].