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<Research>Haitong Int'l Initiates Coverage on BIDU-SW (09888 HK) w/ Outperform Rating, $171 TP
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Haitong International's report initiated coverage on BIDU-SW (09888 HK) at Outperform with a target price of HK$171. As the AI technology wave gradually moves from exploration to large-scale implementation, Baidu, as one of the leading AI companies in China with a full-stack deployment, deserves close attention for its strategic positioning and commercial prospects, the broker opined. Baidu disclosed the revenue of its AI-powered new initiatives for the first time this quarter, which grew by 50% YoY, accounting for 39% of Baidu's core business revenue. In addition, on November 25, Baidu announced the establishment of two new technology R&D organizations: a Basic Model R&D Department responsible for developing highly intelligent and scalable general-purpose AI models, and an Application Model R&D Department responsible for optimizing and exploring specialized models needed for business application scenarios. Both report to Baidu CEO Robin Li. The company will continue to deeply explore AI-related businesses in the future. Haitong International believed this will help Baidu accelerate the monetization process of its AI products. AAStocks Financial News |
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