Chinese tech firm Baidu reported a 15% year on year increase in Q2 2023 revenues, totaling US$4.70 billion. Meanwhile, the company’s operating income stood at US$718 million – a 43% increase compared to the same year-ago quarter.

Robin Li, co-founder and CEO of Baidu, said generative AI presents a “significant market opportunity” for the company. With this, it’s now “reinventing” its products to and upgrading its own AI models to capture this opportunity.