Michael Burry Stock Portfolio: Top 8 Stock Picks

4. Baidu, Inc. (NASDAQ:BIDU)

Scion Asset Management’s Stake Value: $13.16 Million

Number of Hedge Fund Holders: 54

Baidu, Inc. (NASDAQ:BIDU) is a Chinese internet giant that provides online marketing and cloud services through an internet platform. It offers search services, online marketing services, cloud services and other services from AI initiatives. It’s also a major force in computer vision, robotics, machine learning, autonomous driving, and all things artificial intelligence.

While Baidu, Inc. (NASDAQ:BIDU) was a big disappointment going down by 15% in 2024, the stock has started showing signs of bottoming out, going by the 6% gain since the start of the year.  The underperformance last year came as Baidu’s core business was negatively impacted by deteriorating macroeconomics in China. Likewise, the core advertising business came under pressure following the integration of GenAI content into search results, which disrupted near-term monetization. Fast forward, the advertising business is showing signs of improvement as the adverse effects of AI search normalize.

Furthermore, with notable developments in AI-driven product transformation and autonomous driving technology, Baidu, Inc.’s (NASDAQ:BIDU) AI-first strategy continues to be a top priority.  It is also expected to be a key growth driver in strengthening the company’s edge on search and cloud services.