Baidu on Nov. 12, 2024, unveiled a couple of glasses with a integrated AI assistant, hanging up a Chinese language rival to the Meta Ray-Bans that experience confirmed a unprecedented good fortune in AI-powered {hardware}. Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese language tech large Baidu on Thursday posted a three% annual drop in third-quarter income, nonetheless beating marketplace expectancies amid AI cloud enlargement.The income print got here in at $4.78 billion for the quarter finishing on Sept. 30. Web source of revenue for the duration rose by means of 14% to $1.09 billion.Baidu famous a 12% surge in its non-online advertising income to the similar of $1.1 billion, basically pushed by means of its synthetic intelligence cloud trade.Here is what analysts anticipated the corporate to document for the quarter, in line with LSEG estimates:Earnings: $4.63 billionNet source of revenue: $857.17 millionBaidu had reported income of 34.45 billion yuan ($4.75 billion) and web source of revenue of 6.68 billion yuan for the 0.33 quarter of 2023.Beijing-based Baidu operates one of the most main internet browser engines like google in China, at the side of a continuously used maps app. The corporate additionally sells cloud computing products and services. Affiliate internet marketing drives a good portion of the company’s income.The expansion within the AI cloud trade offset “ongoing weak spot” in Baidu’s internet marketing move, CEO Robin Li stated within the income unlock, additionally commenting at the efficiency of the corporate’s Ernie chatbot. “Our sturdy AI features are gaining broader marketplace reputation, as evidenced by means of expanding adoption of Ernie,” he stated.Baidu has promoted its Ernie chatbot as an area choice to OpenAI’s ChatGPT, which is not to be had in China. Ernie bot now has 430 million customers, and systems get right of entry to its underlying AI style round 1.5 billion instances an afternoon, greater than double the 600 million fee in August, Baidu stated final week.”In spite of the near-term pressures, we stay steadfast in our AI-focused technique and are assured in our long-term trajectory,” Li stated Thursday. “As we additional scale AI, we’re emboldened to seek out the way it can force inventions and create price for customers, enterprises and society at massive.”The corporate this month additionally introduced that its Xiaodu AI Glasses will start gross sales within the first part of subsequent 12 months. The wearable has a minimum of one digital camera and makes use of Ernie’s AI features and Baidu’s maps and seek purposes. Whilst Baidu hasn’t printed a value, the product is extensively anticipated to be a Chinese language choice to Meta’s well-liked Ray-Ban sensible glasses.Baidu introduced a control rotation final month, with Junjie He, in the past head of the cellular ecosystem workforce, turning into the corporate’s intervening time Leader Monetary Officer, whilst former CFO Rong Luo assumed management of the cellular department.”AI Cloud persisted to turn wholesome and sustainable building within the 0.33 quarter,” he stated within the income unlock. “In the meantime, Apollo Cross persisted to make operational strides, underpinning our self assurance within the validity of the absolutely self sustaining experience hailing trade style.”Apollo Cross, which operates Baidu’s robotaxi trade, reported a 20% year-on-year surge in rides within the 0.33 quarter.
