Michael Burry’s Top Holdings Were Gaining While NVDA Was Crashing

2. Baidu Inc

Portion of portfolio: 13.6%

Value of holdings: $10,538,750     

Baidu Inc (NASDAQ: BIDU) a Chinese provider of online marketing and cloud services through an internet platform, saw a 2% year-over-year drop in fourth-quarter revenue to RMB34.12 billion (US$4.7 billion), exceeding analyst expectations of RMB33.32 billion (US$4.61 billion).

Burry maintained its existing position in one of its top portfolio holdings in the fourth quarter at 125,000 shares, according to a recent quarterly filing with the Securities and Exchange Commission.

While economic pressures in the country took a toll on the company’s online marketing revenues which decreased by 7% to RMB17.9 billion yuan (US$2.48 billion, Baidu’s Cloud AI business saw a rising demand for AI solutions resulting in a 26% revenue increase to RMB7.1 billion (US$983 million). On February 18, Citi analyst Alicia Yap maintained a “Buy” rating on the stock with an associated price target of $139.

Benchmark analyst Fawne Jiang reaffirmed a “Buy” rating on the stock (NASDAQ: BIDU) with a steady $130.00 price target, while Bernstein analysts maintained a Market Perform rating on the stock, increasing the price target from $87.00 to $108.00, according to Investing.com.

The stock of the Beijing-based Chinese internet search giant traded at $94.47 per share after the market close on March 11, gaining 12.4% since the beginning of the year. Over the past 12 months, Baidu shares declined 6.73%. The company has a market capitalization of $33.308 billion.

As the AI race in China intensifies CEO Robin Li believes investing in cloud infrastructure is important as developing models that outsmart the competition requires greater computational power., according to Ruters.

That said, Ernie Bot, the company’s AI chatbot with premium features, will be available for free for mobile and desktop users starting April 1. The company plans to launch a next-gen AI model by June, making it open-source, like all of DeepSeek’s models.

On February 25, Baidu has reached an agreement with Joyy Inc. to acquire its video entertainment live streaming business in mainland China – YY Live – for a total purchase price of roughly $2.1 billion in cash.