15 AI News That Broke The Internet

Page 6 of 14

9. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 54

Baidu, Inc. (NASDAQ:BIDU), a Chinese internet giant and AI pioneer, was downgraded by Susquehanna International Group on Monday, November 25th. Analyst Shyam Patil downgraded the stock to “Neutral” from Positive and also cut his price target to $85 from $105. According to Patil, macro-related pressures and AI search monetization headwinds” are expected to weigh on Baidu’s revenue. As such, Baidu’s challenge lies in making its AI efforts profitable. The analyst noted that queries that its search engine answers using generative AI are currently monetizing at a lower rate than traditional search because they don’t always direct users to ads.

Page 6 of 14