Nomura has released a research report predicting that Baidu (BIDU.US) 's 4Q25 core business performance will have largely met expectations.Baidu's total revenue may have decreased by 5.7% YoY to RMB26 billion. Specifically, its advertising revenue may have dropped by 15.5%, a decline that already slightly narrowed on a QoQ basis. In contrast, its AI infrastructure revenue is likely to have remained strong, increasing by 34% QoQ to RMB5.6 billion.Related NewsCiti Favors TENCENT/ BABA-W/ BIDU-SW; Internet Giants Ramping Up CNY Promotional Campaigns to Boost AI ProductsNomura believes the market will focus on the IPO progress of Baidu's chip subsidiary Kunlunxin and the capital return plans that involve dividends for the new year. The broker has raised Baidu's target price from USD178 to USD196, with a Buy rating remaining in place.(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)