🚨 NEW: Perplexity AI has made a $34.5B bid for Google’s Chrome to tap its 3B users and strengthen its AI search position. https://t.co/pUCmXXJBK6 ...

Google denies AI search features are killing website traffic | TechCrunch https://t.co/v73a2IwWPL ...

Funding - Moroccan founder raises $4.2 million for her YC-backed startup [1] AI Search Technology - Startup is building the next layer of AI search [1] Industry Focus - TechCrunch reports on the funding and the AI search technology [1]

RT Robby Stein (@rmstein)AI Mode is coming to India – our first international expansion! Labs users in India can now start testing our most powerful AI search, designed to help with your toughest questions. Exciting times ahead for Search … stay tuned for more this summer. ...

Yext (YEXT) Q1 2026 Earnings Call June 03, 2025 05:00 PM ET Company Participants Nils Erdmann - Senior Vice President, Investor RelationsMike Walrath - CEO and Chair of the BoardNaved Khan - Managing DirectorDarryl Bond - Chief Financial Officer Conference Call Participants Ryan Macdonald - Senior AnalystTom white - Managing Director, Senior Equity Research AnalystRohit Kulkarni - MD & Senior Research Analyst Operator Good afternoon, and welcome to the Yext Incorporated First Quarter Fiscal twenty twenty si ...

Investment Rating - The report assigns a "Buy" rating for Baidu.com Inc. (BIDU) with a 12-month price target of $96.00, indicating an upside potential of 14.4% from the current price of $83.92 [1]. Core Insights - The management aims to accelerate the AI search revamp, targeting a penetration rate of AIGC search results to reach 70-80% by the end of 2025, which is expected to lead to a near-term advertising revenue decline of over 10% year-on-year in Q2 and Q3 of 2025 [1][16]. - The cloud business is expected to maintain solid growth, with a 42% year-on-year increase in Q1 2025, driven by recurring subscription-based revenue despite fluctuations in project-based revenue [1][18]. - Margin pressure is anticipated in Q2 and Q3 of 2025 due to operating deleverage from advertising headwinds and investments in AI initiatives [1][20]. Advertising Outlook and AI Search Revamp - Management is focused on enhancing the AI search revamp, with expectations of a significant decline in advertising revenue in the near term due to the transition to AIGC search results [1][16]. - The advertising revenue for Baidu is projected to decrease from Rmb 72,849 million in 2024 to Rmb 67,261 million in 2025, reflecting a year-on-year decline of 8% [16]. Cloud Business Momentum - Baidu's cloud revenue is expected to grow significantly, with management highlighting the GPU cloud as a supply-constrained market where Baidu has a competitive edge [1][17]. - The cloud revenue is projected to reach Rmb 27,950 million in 2025, with a year-on-year growth rate of 28% [23]. Margin Dynamics - The report indicates that group-level margin pressure is expected due to a mix of slower advertising growth and faster growth in cloud and autonomous driving segments [1][20]. - Management anticipates that both the cloud and autonomous driving segments will see incremental margin improvements in FY25 [20][21]. Financial Projections - Total revenue is forecasted to grow from Rmb 133,125 million in 2024 to Rmb 135,929 million in 2025, reflecting a modest year-on-year growth of 2% [23]. - EBITDA is expected to decline from Rmb 34,907.5 million in 2024 to Rmb 31,420.6 million in 2025, indicating a year-on-year decrease of 10% [23]. Price Performance - The report notes that Baidu's stock has underperformed relative to the NASDAQ Composite, with a 12-month absolute return of -16.3% [12].

Core Insights - Analyst Aaron Kessler upgraded Reddit from Neutral to Buy with a price target of $165, citing strong international momentum, rising logged-in users, and a high-intent commercial audience [1][2]. User Growth - Reddit reported a quarterly revenue of $392.36 million, up from $242.96 million year-over-year, exceeding the analyst consensus estimate of $370.01 million [8]. - Total Daily Active Users (DAUs) grew in the high teens through April, with a 50% increase in the number of advertisers for the quarter [8]. - International users represent 54% of total users and approximately 20% of revenues, with significant growth driven by machine translation available in 13 languages [9]. Advertising Revenue - Advertising revenues are expected to drive second-quarter revenue growth guidance of 46-53%, with about 40% of Reddit conversations being commercial [4]. - Reddit's ad load is approximately 1 in 8 posts, compared to 1 in 5 for other leading social platforms, indicating potential for increased ad load [5]. Search and AI Integration - Reddit rolled out its first search machine learning model, enhancing the relevance of search results and integrating Reddit Answers, an AI-powered tool for dynamic search experiences [6]. Future Projections - Kessler projected second-quarter revenue of $420.3 million and earnings per share (EPS) of $0.18, with Reddit estimating revenue between $410 million and $430 million [10][11].

作者：yongxin 编辑：Siqi Agentic AI 的 3 要素是：tool use，memory 和 context，围绕这三个场景会出现 agent-native Infra 的 机会。 01 . 为什么 Search API 很重要 按照场景和信息需求类型，搜索行为大致可以被分为四类： • 第一类，高频快速查询， 指的是一两步内就能完成的查询。Google 大部分的 query 还是以几个单词为 主，用户得到答案后马上离开，不会进行深入的查询。对于这类查询 Google、Bing 还是最好的应用，新 玩家几乎没有挑战的机会。 • 第二类，研究性质的深入查询， 用户可以和搜索工具反复交流，获取知识。这一类搜索是 LLM 和 LRM 带来的新场景，对应的代表性产品形态分别是 Chatbot 和 Deep research。 Agent 所获取到的信息质量是 agent 推理的起点，虽然 LLM 带来了 perplexity 为代表的 AI answer engine，提供了完全不同于传统搜索引擎的体验，但这些产品仍旧面向的是人类用户，产品逻辑是围 绕人类行为设计的。 在我们 MCP 的研究中发现， ...