【券商聚焦】东方证券指百度广告业务有望企稳，云业务成新增长点_老虎社区_美港股上老虎

【券商聚焦】东方证券指百度广告业务有望企稳，云业务成新增长点

金吾财讯03-06

（原标题：【券商聚焦】东方证券指百度广告业务有望企稳，云业务成新增长点）金吾财讯|东方证券发布研报指，百度集团-SW(09888.HK)广告业务降幅收窄，AI商业化加速或推动拐点显现。25Q4广告收入150亿元（同比-16%），其中AI原生营销占比达18%。云业务表现亮眼，25Q4智能云收入58亿元（环比+38%），受益于大模型升级及推理需求扩张。Robotaxi全球覆盖26城，25年订单超...

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