中国科技 - 百度 - 深度搜索改版,关注人工智能计划与无人出租车扩张;智能问答订阅压力;2025 年第二季度预览-China Technology_ Internet_ BIDU_ deeper search re-vamp, eyes on AI initiatives and Robotaxi expansion; IQ subs pressure; 2Q25 preview
11 August 2025 | 4:16PM HKT China Technology: Internet BIDU: deeper search re-vamp, eyes on AI initiatives and Robotaxi expansion; IQ subs pressure; 2Q25 preview 1. Cloud: we expect a solid 25% yoy growth in 2Q, on par with leading peers Alibaba/Tencent on cloud growth. While in some of the earlier quarters' cloud growth was driven by project based revenue (thus 2Q25 growth likely slower vs. 1Q's 42%), we see underlying recurring/subscription based revenue into 2Q remains strong, driven by AI training/infer ...