Baidu shares drop 27% amid AI strategy scrutiny

Optimism for Baidu Inc.’s US-listed shares is waning as upcoming third-quarter results cast doubt on the company’s AI initiatives.

Baidu’s shares have decreased 27%, underperforming against the Nasdaq Golden Dragon China Index’s 2.8% increase.

Data from Bloomberg shows the buy-equivalent rating for Baidu shares dropped to 74% in November.

This is the lowest since 2020, down from 90% in May.

Recent Baidu developments

Timeline
20-Nov-2024 🚗 Baidu cuts autonomous car costs to $34k Baidu cuts Apollo RT6 costs to 250,000 yuan RT6 is world’s only mass-produced Level-4 vehicle
12-Nov-2024 🧠 Baidu launches new AI text-to-image tech Baidu reveals iRAG to improve image generation. Miaoda allows coding-free software development.
08-Nov-2024 👓 Baidu to unveil AI smart glasses to rival Meta’s Ray-Bans Baidu to launch AI smart glasses next week Smart glasses to integrate with Baidu’s services
11-Oct-2024 🚖 Baidu’s Apollo Go to launch robotaxi service in HK Baidu launches robotaxi service in Hong Kong. Plans for global Apollo 10.0 platform revealed.
26-Sep-2024 🤖 Baidu reveals upgraded AI platforms at Beijing summit Baidu unveils AI platforms at Yunzhi Summit. ERNIE models serve 700M queries daily, aiding app dev.

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