BIDU: Investments In AI and AI Cloud To Fuel Future Growth; Positive On 2024 Outlook
We are positive about BIDU’s AI performance in 4Q23, and its advertising business is in line with China's economy. China’s economy did not show better growth in 2023 after the government ceased all Covid restrictions. While there were some improvements in the economy in 4Q23, the recovery was still below expectations. As a result, advertising growth may not grow as well as expected in 4Q23. However, BIDU continues to invest in AI with Ernie 4.0, which was launched in October 2023. We are positive about BIDU’s long-term outlook, as the company continues to invest in AI, which we believe is a growth engine for the company.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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