Strong Revenue Growth in AI Cloud: Baidu Core's total revenue reached RMB 26.3 billion, with AI cloud revenue growing 27% year-over-year to RMB 6.5 billion. Non-online marketing revenue surpassed RMB 10 billion for the first time, up 34% year-over-year, highlighting strong demand for AI-driven solutions.

AI-powered Search Transformation: Baidu continues to accelerate its AI transformation of Baidu Search, with AI-generated content reaching over 50% of mobile search result pages by June 2025. The shift towards AI-powered search is expected to unlock new monetization opportunities, although large-scale monetization has not yet begun.

Challenges in Online Marketing Revenue: Despite strong growth in non-online marketing segments, Baidu Core's online marketing revenue decreased by 15% year-over-year to RMB 16.2 billion, reflecting headwinds in the online advertising market. The current economic environment and competition in AI exacerbate this challenge.