Core Viewpoint - The recent surge in Baidu's stock price is interpreted as a delayed value reassessment rather than a simple rebound, indicating a significant transformation within the company [1][5][17]. Group 1: AI Strategy and Internal Transformation - Baidu has completed a core restructuring, integrating its AI strategy into its business framework, showcased during the Baidu World Conference 2025 with various product launches [2][3]. - The company is transitioning from being viewed merely as a search engine to being recognized as a comprehensive AI platform, having made early and substantial investments in AI technology [3][5]. - Baidu's AI capabilities have crossed a critical threshold, enabling it to empower other companies in the industry to effectively utilize AI [3][4]. Group 2: Financial Performance and Market Confidence - Since August, Baidu's stock has seen a notable increase, with a 50.61% rise in Hong Kong shares and a 59.6% increase in U.S. shares this year, prompting several institutions to upgrade their ratings to "buy" based on AI and cloud computing revenue prospects [5][6]. - The market's confidence stems from Baidu's decade-long investment in AI infrastructure, which is difficult to replicate in the short term [6][14]. Group 3: AI Product Development and Ecosystem - Baidu has developed a comprehensive AI technology stack, including the Kunlun chip series and the PaddlePaddle deep learning platform, which supports the entire AI application process [7][8]. - The newly launched Wenxin 5.0 model demonstrates advanced capabilities in multi-modal understanding and has achieved competitive performance in global benchmarks [8][10]. - Baidu's AI applications, such as AI search and the GenFlow 3.0 cloud service, have significantly enhanced user experience and engagement, leading to increased commercial value [10][11]. Group 4: External Empowerment and Market Expansion - Baidu's AI capabilities are being extended to external partners, with Baidu Smart Cloud becoming a preferred choice for numerous major enterprises [11][12]. - The autonomous driving service "Luobo Kuaipao" has achieved significant milestones, with over 250,000 fully autonomous orders weekly and a total of 17 million global ride services, marking Baidu as a leader in the field [15][16]. - The company's international expansion efforts include launching overseas versions of its AI products, indicating a strategic move to tap into global markets [15][16]. Group 5: Long-term Vision and Market Reassessment - The value reassessment of Baidu is not merely a return to form but signifies the emergence of a "new Baidu," characterized by a focus on core technologies and long-term strategies [17][18]. - The company's commitment to long-term investment in AI and its comprehensive technological ecosystem positions it favorably against competitors who may waver between model competition and short-term monetization [16][18].

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].