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NASDAQ · Communication Services

BAIDU INC BIDU

Baidu is China's leading Internet and artificial intelligence company, and its core business is undergoing a comprehensive transformation from search engines to AI-driven cloud services, autonomous driving and AI applications. Based on the Wenxin large model, AI cloud, Apollo Go self-driving travel and intelligent applications have become the main growth pillars. Data for the first quarter of 2026 show that AI core business will contribute more than half of general business revenue. Investment analysis needs to pay attention to the AI ​​commercialization process, the global expansion of autonomous driving and the downside risks of traditional advertising business.

Sources Company earnings and call materials quartr.com
China Internet / AI

Company profile

Business mix

  • AI business has become the core growth engine, contributing 52% to GM's business revenue in Q1 2026, a year-on-year increase of 49%, mainly driven by AI cloud and autonomous driving.
  • AI cloud infrastructure revenue increased by 79% year-on-year to 8.8 billion yuan, of which GPU cloud revenue accelerated by 184%, reflecting the explosive demand for computing power in large models.
  • The self-driving travel platform Apollo Go provided 3.2 million fully driverless trips in Q1, a year-on-year increase of more than 120%, with a total of more than 22 million trips, and has expanded to 27 cities around the world.
  • The AI ​​application layer (such as DuMate, Miaoda, Famou Agent, etc.) has strong user growth and has launched new products, forming a full-stack AI layout from chips to applications.

Current key questions

  • The traditional online marketing business continues to be under pressure. The company's overall revenue fell 2% month-on-month, while the general business remained flat month-on-month. AI growth has not yet fully offset the weakness in advertising revenue.
  • The operating profit margin is only 10% (non-GAAP is 12%). Although the AI ​​business is growing rapidly, infrastructure investment and intensifying competition have limited profit margins.
Holders 1 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 730.23 FCF -3.36% Buyback 1.44%
2026-06-07

Current firm holders

Firm Weight Value Filing period
Appaloosa David Tepper 1.3% $77.1M 2026-03-31

Recent trading changes over the last 2 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 0 Last 2 13F filing periods
Net reducers 1 Last 2 13F filing periods
Unchanged holders 3 Share count unchanged
Increase amount $0 Estimated from net added shares
Reduction amount $39.3M Estimated from net reduced shares
Net share change / base shares -33.8% -352,900 / 1,045,000
Appaloosa David Tepper 2 filing periods
13F 2025-12-31 Filed 2026-02-17
Major reduction Shares -45.0% 13F value change -$62.6M
13F 2026-03-31 Filed 2026-05-15
Major increase Shares 20.4% 13F value change +$2.0M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 1,045,000 Last 2 periods -352,900 (-33.8%) Total shares 692,100 Value $77.1M
HHLR Advisors / Hillhouse Lei Zhang 2 filing periods
13F 2025-09-30 Filed 2025-11-14
New Shares - 13F value change +$216.2M
13F 2025-12-31 Filed 2026-02-17
Sold out Shares -100.0% 13F value change -$216.2M
Settlement As of 13F 2025-12-31 · Filed 2026-02-17
Base shares 0 Last 2 periods +0 (New) Total shares 0 Value $0
Bridgewater Associates Ray Dalio 2 filing periods
13F 2025-03-31 Filed 2025-05-14
New Shares - 13F value change +$191.1M
13F 2025-06-30 Filed 2025-08-13
Sold out Shares -100.0% 13F value change -$191.1M
Settlement As of 13F 2025-06-30 · Filed 2025-08-13
Base shares 0 Last 2 periods +0 (New) Total shares 0 Value $0
Oaktree Capital Management Howard Marks 2 filing periods
13F 2025-03-31 Filed 2025-05-15
New Shares - 13F value change +$18.4M
13F 2025-06-30 Filed 2025-08-13
Sold out Shares -100.0% 13F value change -$18.4M
Settlement As of 13F 2025-06-30 · Filed 2025-08-13
Base shares 0 Last 2 periods +0 (New) Total shares 0 Value $0

Recent mentions

No public mentions.