Top 10 AI News Updates This Weekend

7. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 54

Baidu, Inc. (NASDAQ:BIDU) is a Chinese internet giant and AI pioneer, known for its noteworthy investments in artificial intelligence technology and its position as the dominant search engine within the country.

On November 27, JPMorgan analyst Alex Yao downgraded Baidu, Inc. (NASDAQ:BIDU) to “Neutral” from Overweight. The downgrade comes from sharply decreasing macro earnings visibility due to uncertainty about the macro environment and the impact of its generative AI content. As a result, the firm has lowered its 2025 earnings outlook for Baidu, cutting estimates by 21%, 17% below Bloomberg’s consensus. The firm also forecasts Baidu’s core ads revenue growth weakness will bottom out in Q1 of 2025, followed by acceleration in each of the following quarters; albeit at an uncertain pace.