（原标题：麦格理：对百度集团-SW(09988)评级升至"跑赢大市" 目标价大幅上调至171港元） 智通财经APP获悉，麦格理发布研报称，百度集团-SW(09888)正转向更多元化收入来源，人工智能云和 自动驾驶的士带来正面期权价值。该行将百度投资评级由"中性"上调至"跑赢大市"。目标价由96港元大 幅上调至171港元，芯片设计部门或贡献百度估值三分一(按20倍市销率计估算)。 ...

百度(BIDU.US)盘前涨超4%，报126.65美元。消息面上，麦格理报告指，百度正转向更多元化收入来 源，人工智能云和自动驾驶的士带来正面期权价值。该行将百度的投资评级由"中性"上调至"跑赢大 市"，目标价由96港元大幅上调至171港元，芯片设计部门或贡献三分之一的估值(按20倍市销率计估 算)。(格隆汇) ...

Core Viewpoint - Baidu's Q2 2025 financial report shows that AI new business revenue has exceeded 10 billion, marking a 34% year-on-year growth, indicating strong performance in AI cloud services and autonomous driving [1] Group 1: Financial Performance - Baidu's AI new business revenue reached over 10 billion for the first time [1] - The year-on-year growth rate of 34% highlights the robust expansion of Baidu's AI segment [1] Group 2: Market Reactions - Citigroup raised Baidu's target price to $143, citing the unexpected growth as a sign of strong performance in AI cloud services [1] - Multiple institutions expressed optimism about Baidu's AI business development, with CICC maintaining an "outperform" rating [1] Group 3: Strategic Insights - Huatai's research report indicates that the acceleration of AI search transformation positions Baidu favorably for long-term growth [1] - Baidu's leading cost advantage in the autonomous driving sector may enhance its economic benefits and commercialization value in overseas markets [1]

Group 1 - The core point of the article is that Baidu's AI cloud division reported a non-GAAP operating profit margin in the "teens" percentage range for the first quarter [1] Group 2 - The announcement highlights the growing profitability of Baidu's AI cloud services, indicating a positive trend in the company's financial performance [1]

Core Insights - The core viewpoint of the article highlights that Baidu's AI cloud now accounts for 26% of its core revenue, an increase from 20% a year ago [1] Company Summary - Baidu's AI cloud revenue contribution has risen to 26% of its core income, indicating a significant growth in this segment [1]