Top 10 Trending AI News and Ratings

5. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 54

Baidu, Inc. (NASDAQ:BIDU) uses its artificial intelligence expertise to drive innovation across several industries. TipRanks reported on January 24 that Benchmark analyst Fawne Jiang maintained a Buy rating on Baidu (NASDAQ:BIDU) with a price target of $130. Despite a challenging FY24 due to macroeconomic factors and the impact of GenAI content on its core advertising business, Jiang expects a rebound in the company’s ad revenue by late 4Q24 or early 1Q25, with AI search potentially boosting performance in FY25.

Baidu’s valuation remains attractive, trading at a forward P/E of around 2.5x, excluding cash. Jiang highlighted the company’s international expansion potential and progress in the Robotaxi sector, despite competition from Tesla and Waymo, and views the risk/reward profile as favorable.