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On January 21, research analysts from DBS Group released a report projecting that Baidu's revenue in the fourth quarter is likely to rebound with year-on-year (YoY) growth. The year-on-year decline in its online advertising sector has lessened, while its artificial intelligence (AI) cloud infrastructure segment has demonstrated robust revenue expansion, factors expected to bolster profitability. Additionally, the fourth quarter may witness a surge in both the computational intensity and demand for Baidu's AI chip division, Kunlunxin. Collectively, these elements are poised to fuel sequential increases in gross profit and non-GAAP operating profit. DBS continues to endorse a 'Buy' stance on Baidu's shares, having elevated its target price for H-shares from HK$175 to HK$206 and for ADRs from US$177 to US$211.
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