Key Takeaways Baidu's Q2 revenues fell 4% YoY to RMB 32.7B as rising costs cut margins and profits.Core online marketing plunged 15% YoY, deepening pressure from higher AI spending.AI Cloud, the Ernie model and Apollo Go show momentum despite near-term strain.Baidu, Inc. (BIDU) is encountering the squeeze as rising costs erode profits just as management doubles down on AI. The pressure is visible in the margins. In the second quarter of 2025, its cost of revenues climbed nearly 12% year over year as Baidu s ...