作者|皮爷 出品|产业家 在百度AICA背后，能看到的是一个以人和AI真问题为课题对象，通过真实的体系培训、产业协同、组织交流合作，在授人以鱼的同时更授人以渔，通过 AI架构师的人才培养为基点，进而真正帮助中国企业构建出一个长效可持续可发展迭代的AI生产力体系。 守正创新，泽被八方。百度这个中国AI的先行者，正在以"重工"的态度、"有人文温度"的土壤推动一众产业、一众企业、一众人才大步跨进AI时代。 2024年下半年，孙勇涛感觉到更清晰了。他是北京奔驰技术维护主任工程师，牵头的一个项目是"漆面缺陷检测系统Paint Defect Eye"，项目主要针对汽车 涂装工艺之后的车身检测。 这种清晰感来自一个"特殊组织"的加持，它就是百度AICA。"开始还是比较迷茫的，不知道我能做到什么程度，也不知道技术能实现哪些，在这里一点点 突破这些壁垒，最后把这个项目完成。" 孙勇涛是百度AICA第8期学员，也更是这个平台上几百名AI架构师的一个缩影。在这个从2019年启动，到现在已经持续到第9期的"首席AI架构师培养计 划"里，如今已经走出了接近500名AI架构师，在2025年的当下，他们都已经成为各自企业乃至产业里AI转型 ...

8月2 0日晚，百度发布了2 0 2 5年第二季度财报，总营收3 2 7亿元，核心净利润同比增长3 5%至 7 4亿元，但其中一组数字极具里程碑意义：AI新业务收入首次突破1 0 0亿元，同比增长3 4%。 百亿收入并非偶然的业绩爆发，而是技术积累与产品的落地，更是一家公司在AI长跑中从布 局到收获的完整叙事，是深耕AI领域十余年的收成兑现。 而百度之所以能成为这场行业爆发中的"先行者"，关键在于其长达十余年的提前布局——早 在2 0 1 3年，百度就启动了自动驾驶技术研发；2 0 1 7年，Ap o ll o平台正式对外开放；2 0 2 1年， 萝卜快跑开始商业化试点。这种"长期主义"的投入，让百度在技术积累、数据沉淀、场景适 配等方面形成了难以逾越的壁垒，当行业风口来临时，能最先收获红利。 花旗银行在研报中明确指出，百度与Ub e r、Ly ft的合作，对萝卜快跑进一步开拓具备商业化 潜力的全新市场具有积极意义，彰显了其在自动驾驶价值链中的核心能力。高盛也预测，随 着萝卜快跑规模的进一步扩大和盈利能力的释放，市场将重新评估这一业务的价值。毕竟， 在 全 球 范 围 内 ， 能 实 现 千 万 级 出 行 ...

8月20日，百度发布2025年Q2财报，剔除爱奇艺后当期百度核心收入263亿元，同比减少2%，归属百度 核心的净利润74亿元，同比增长35%。但一个明显的变化是：当期百度162亿元的在线营销收入，同比 减少15%，但100亿元的非在线营销收入，同比增长34%。 在这个变化背后，2000年成立的百度在PC互联网时代度过了黄金十年，带来在线营销收入的搜索也一 直是百度最大的钱袋子，但近年来随着社交、短视频等新流量渠道的崛起，百度的钱袋子持续遭遇冲 击。被质疑错过移动互联网时代的百度，不能再让自己错过AI时代。 而QuestMobile2025半年度互联网广告市场价值榜单显示，今年6月百度App的媒介地位指数（QMVI） 排名第九，在它前面有抖音、淘宝、微信、快手、小红书、今日头条、微博和京东。 需要提及的是，近日百度已经对在线营销的渠道动起手术刀。 今年7月，百度被曝将取消济南、重庆、武汉、福州、厦门等六个城市独家代理机制，转而采用服务商 运营模式。 互联网分析师葛甲告诉《华夏时报》记者，百度广告渠道过去实施的是总代模式，总代理商每年向百度 承诺一个业绩数字，超过了会有更多奖励，达不到则需要对百度作出赔偿，代理商 ...

Core Viewpoint - Baidu's Q2 2025 financial report slightly exceeded market expectations, with AI-related new businesses experiencing a 34% growth, enhancing market confidence in Baidu's return to an expansion cycle [6][8]. Financial Performance - In Q2 2025, Baidu achieved total revenue of 327 billion RMB, with core revenue of 263 billion RMB and iQIYI contributing 66 billion RMB. Online marketing revenue was 162 billion RMB, while non-online marketing revenue surpassed 100 billion RMB for the first time, growing 34% year-on-year, driven by AI-related growth in smart cloud and other businesses [8][10]. - Operating profit for Q2 2025 was 33 billion RMB, with a core operating profit margin of 13%. Net profit attributable to Baidu was 73 billion RMB, a 33% year-on-year increase, with a core net profit margin of 28% [10][12]. AI Business Expansion - Baidu's AI-related new business revenue exceeded 100 billion RMB for the first time, growing 34% year-on-year, primarily due to the rapid growth of subscription-based AI infrastructure and smart cloud services, which saw a 27% increase [18][20]. - The company is also benefiting from the growth of innovative businesses like smart driving, with significant partnerships and a 148% year-on-year increase in global ride service instances [20]. AI Search Transformation - Baidu has initiated a significant transformation of its search capabilities, with the introduction of an "intelligent box" that supports multi-modal queries. AI-generated content now accounts for 64% of search results, improving user engagement metrics [14][15]. - The company has tested AI search monetization capabilities, showing optimistic prospects for enhancing traditional online marketing through improved user experience and conversion efficiency [15][16]. Long-term Outlook - Baidu's long-term performance is viewed positively due to its all-in AI strategy, which is expected to enhance user experience and drive traditional online marketing recovery as AI search capabilities mature [13][14]. - The company is positioned to benefit from the growing demand for AI training and inference, with its smart cloud services expected to contribute stable long-term growth [16][22]. Valuation Perspective - As of August 20, Baidu's market capitalization was 2,144 billion RMB, with a PE ratio of 7.8, indicating a relatively low valuation compared to historical averages and peers like Google and Alibaba. After accounting for net cash, the effective market value is approximately 600 billion RMB [24][27]. - The market's concerns regarding short-term performance fluctuations due to business transformation have not fully priced in the long-term potential of AI, suggesting that Baidu's investment value remains noteworthy [27].

Core Insights - Baidu's Q2 financial report shows significant growth driven by AI, with revenue exceeding 10 billion yuan for the first time, marking a 34% year-on-year increase [1] - The company's total revenue reached 32.7 billion yuan, with core revenue at 26.3 billion yuan and a net profit of 7.4 billion yuan, reflecting a 35% year-on-year growth [1] AI-Driven Business Growth - Baidu's intelligent cloud business experienced a 27% year-on-year revenue growth, supported by a unique end-to-end AI architecture that serves as a core competitive advantage [4] - The Baidu GPU cloud platform underwent significant upgrades, enabling clients to adaptively set PD ratios based on business characteristics, effectively reducing inference costs [4] - Baidu's strategic partnerships with notable companies in various industries, including 20 collaborations in the embodied intelligence sector, highlight the market's recognition of Baidu's intelligent cloud [4][5] Global Expansion of "Luobo Kuaipao" - "Luobo Kuaipao" provided over 2.2 million rides globally in Q2, a 148% year-on-year increase, with total rides exceeding 14 million across 16 cities [6] - The service is expanding internationally, with partnerships established with Uber and Lyft to integrate autonomous vehicles into their networks, aiming for deployment in Europe by 2026 [6][7] AI Innovation in Search - Over 64% of search results on Baidu are now generated by AI, a significant increase from 35% in April, showcasing the rapid transformation towards AI-driven content [8] - The number of AI-generated videos on the Baidu App has reached over one million daily, reflecting advancements in generative AI and multimodal capabilities [8] - The usage of digital human technology has increased, generating approximately 500 million yuan in revenue in Q2, with a 55% quarter-on-quarter growth [9]

Core Viewpoint - Baidu's comprehensive layout enables growth in B-end and provides confidence for innovation exploration in C-end, showcasing a strong performance in its Q2 2025 financial results with total revenue of 32.7 billion yuan and core revenue of 26.3 billion yuan, reflecting a 35% year-on-year increase [2][5][10] Group 1: Financial Performance - In Q2, Baidu's total revenue reached 32.7 billion yuan, with core revenue at 26.3 billion yuan and a net profit of 7.4 billion yuan, exceeding expectations with a 35% year-on-year growth [2][5] - AI-driven new business revenue surpassed 10 billion yuan for the first time, marking a 34% year-on-year increase [5][10] Group 2: Intelligent Cloud Business - Intelligent cloud revenue grew by 27% year-on-year, with Non-GAAP operating profit also showing significant growth [7][10] - Baidu's intelligent cloud has ranked first in China's AI public cloud market for six consecutive years, and it leads in the large model platform market [8][10] Group 3: Autonomous Driving and Mobility Services - The "萝卜快跑" service provided over 2.2 million rides globally in Q2, a 148% year-on-year increase, with total rides exceeding 14 million [12][13] - Baidu has expanded its global presence with partnerships with Uber and Lyft, aiming to deploy autonomous vehicles in Europe and the Middle East [13][14] Group 4: AI Technology and Applications - Baidu's full-stack AI capabilities are driving healthy growth in its intelligent cloud business, with a unique four-layer AI architecture as a core competitive advantage [7][10] - The new generation of digital human technology has seen a 55% quarter-on-quarter revenue increase, reaching approximately 500 million yuan [16][18] Group 5: Strategic Vision and Future Outlook - Baidu is focused on creating millions of "super useful" applications rather than just "super applications," emphasizing practical AI integration in business [15][18] - The company aims to build a prosperous AI ecosystem, leveraging its technological leadership to drive commercial success and create a sustainable development path [18]

从萝卜快跑出海到搜索革命 再到智能云， 百度 的 " AI 技术复利 "迎来兑现时刻 。 8月20日晚， 百度交出了一份 史上 AI含量 最高 的 季度 成绩单。 第二季度财报显示，公司季度总营收 327亿元，百度核心营收263亿元，归属百度核心净利润74亿 元，同比增长35%。受AI驱动，涵盖智能云在内的AI新业务收入增长强劲，首次超过100亿元，同 比增长34%。 "二季度，智能云业务实现健康增长，这得益于我们不断加强的全栈AI能力和端到端AI产品及解决方 案。"百度创始人李彦宏表示，"百度始终聚焦于那些最具长期价值创造潜力的AI新领域，让我们的 技术与创新，产生最具意义和持久的影响。" 接下来 财报 电话会 披露的关键数据更具指向性： 百度移动搜索 结果页 中 AI生成内容的占比从4 月的35%迅速提升至7月的64%；萝卜快跑Q2全球出行服务次数超220万，同比增长148% ； 智能 云业务营收同比增长 27%，Non-GAAP经营利润实现同比增长；数字人产生的收入环比增长 55%，据电话会披露信息计算，约为5亿元。 财报显示出百度 全栈布局 开始逐步进入 收获期： B端通过智能云啃下政企数字化硬骨头， ...

百度核心营收263亿元，同比下降2%，环比上升3%。归属百度核心净利润74亿元，同比增长35%。受 AI驱动，涵盖智能云在内的AI新业务收入增长强劲，首次超过100亿元，同比增长34%。 8月20日晚，百度发布2025年第二季度财报。本季度总营收327亿元，同比下降4%，环比增长1%。归属 于百度的净利润为73亿元，同比上升33%，环比下降5%。 不久前，百度发布了全球首个多人有声音视频一体化模型"百度蒸汽机"，通过不同版本差异化设计满足 各类用户不同创作需求，进一步强化百度搜索、内容、商业等生态的多模态体验。百度高管在财报电话 会上透露，21日下午将推出具有重要更新的最新版本"百度蒸汽机"。 "二季度，智能云业务实现健康增长，这得益于我们不断加强的全栈AI能力和端到端AI产品及解决方 案。"百度创始人李彦宏表示，本季度内，百度加速推进搜索的AI转型与萝卜快跑全球化进程，"百度始 终聚焦于那些最具长期价值创造潜力的AI新领域，让我们的技术与创新，产生最具意义和持久的影 响。" | | | | 百度集團股份有限公司 | | | | | --- | --- | --- | --- | --- | --- | -- ...

百度核心营收263亿元，同比下降2%，环比上升3%。归属百度核心净利润74亿元，同比增长35%。受AI驱动，涵 盖智能云在内的AI新业务收入增长强劲，首次超过100亿元，同比增长34%。 "二季度，智能云业务实现健康增长，这得益于我们不断加强的全栈AI能力和端到端AI产品及解决方案。"百度创 始人李彦宏表示，本季度内，百度加速推进搜索的AI转型与萝卜快跑全球化进程，"百度始终聚焦于那些最具长期 价值创造潜力的AI新领域，让我们的技术与创新，产生最具意义和持久的影响。" | | | | 百度集團股份有限公司 | | | | | --- | --- | --- | --- | --- | --- | --- | | (百萬元,每股美國存託股除外, | 2024年 | 2025年 | | | | | | 未經審計) | 第二季度 | 第一季度 | 2025年第二季度 | | 按年 | 按季 | | | 人民幣元 | 人民幣元 人民幣元 | | 美元 | | | | 總收入 | 33.931 | 32.452 | 32,713 | 4.567 | (4%) | 1% | | 經營利潤 | 5.944 | 4.508 ...

Group 1 - Baidu's Q2 report highlights significant growth in AI-generated content, with 64% of mobile search results featuring AI content and over 60% of top search results displaying rich media [2][4] - The company's AI new business revenue has surpassed 10 billion yuan for the first time, with intelligent cloud revenue growing by 27% year-on-year [2][8] - Baidu's aggressive strategy contrasts with Google's more gradual approach, as Baidu has undergone its largest search reform in a decade, replacing traditional hyperlinks with AI-driven content [3][10] Group 2 - The shift to AI-driven search is evident, with AI-generated content rapidly increasing from 35% in April to 64% in July, indicating a deep user experience with AI search [4][5] - Baidu's intelligent cloud has maintained its position as the market leader for six consecutive years, and the company has successfully developed advanced chips for large model training [8][9] - The rapid expansion of Baidu's "Luobo Kuaipao" service, with over 2.2 million global ride service instances in Q2, showcases its international growth and collaboration with major platforms like Uber and Lyft [9][12] Group 3 - Baidu's aggressive reform in search is supported by the growth of its AI new business, which provides a solid foundation for its transformation [12][13] - The company is not rushing to monetize AI search results through advertising but is focusing on enhancing user experience first [12][14] - Baidu's comprehensive AI strategy encompasses a full-stack approach, integrating technology from chips to applications, which strengthens its competitive edge in the market [15][16]