Baidu, Inc. (BIDU): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da tecnologia chinesa, a Baidu, Inc. surge como uma potência digital, transformando como milhões interagem com a tecnologia através de seu sofisticado ecossistema orientado a IA. Além de um mero mecanismo de busca, o Baidu representa uma gigante tecnológica multifacetada que integra perfeitamente a inteligência artificial, a computação em nuvem e as soluções digitais inovadoras em diversos setores, posicionando -se como um participante fundamental na jornada de transformação digital em rápida evolução da China. Desde pesquisas de direção autônoma até experiências de pesquisa personalizadas, o modelo de negócios do Baidu, a Canvas, revela uma abordagem estratégica que vai muito além das plataformas tradicionais da Internet, oferecendo uma narrativa convincente de inovação tecnológica e adaptação do mercado.

Baidu, Inc. (BIDU) - Modelo de negócios: Parcerias -chave

Colaboração com fabricantes automotivos para tecnologia de direção autônoma

A Baidu estabeleceu parcerias estratégicas com vários fabricantes automotivos para sua plataforma de direção autônoma Apollo:

Parceiro	Detalhes da parceria	Ano estabelecido
Automóvel Geely	Desenvolvimento de direção autônoma conjunta	2018
Grupo FAW	Colaboração inteligente de tecnologia de veículos	2019
Grupo Baico	Integração da plataforma de direção autônoma Apollo	2020

Parcerias estratégicas com empresas globais de tecnologia

O Baidu formou parcerias críticas de tecnologia com líderes globais de tecnologia:

• Intel Corporation: colaboração no desenvolvimento de chips de IA
• Microsoft: Computação em nuvem e parceria de pesquisa de IA
• Nvidia: GPU e cooperação tecnológica de direção autônoma

Joint ventures com entidades governamentais chinesas

Entidade governamental	Área de foco	Valor do investimento
Governo municipal de Pequim	IA e inovação tecnológica	¥ 3,2 bilhões
Academia Chinesa de Ciências	Pesquisa e desenvolvimento	¥ 1,5 bilhão

Parcerias do fabricante de smartphones

O Baidu integrou as tecnologias de IA e pesquisa com fabricantes de smartphones:

• Xiaomi: Integração do Assistente de Voz Dueros
• Huawei: Pesquisa e Colaboração de Serviços AI
• OPPO: Pesquisa móvel e parceria do ecossistema de IA

Parcerias do ecossistema

Categoria de parceiro	Número de parceiros	Valor anual de colaboração
Provedores de serviços em nuvem	12	US $ 450 milhões
Criadores de conteúdo	500+	US $ 220 milhões

Baidu, Inc. (BIDU) - Modelo de negócios: atividades -chave

Inteligência artificial e pesquisa e desenvolvimento de aprendizado de máquina

O Baidu investiu US $ 4,3 bilhões em despesas de P&D em 2022. A IA Research se concentra:

• Processamento de linguagem natural
• Visão computacional
• Algoritmos de aprendizado profundo

Área de pesquisa de IA	Investimento (2022)
Aprendizado de máquina	US $ 1,7 bilhão
Desenvolvimento da plataforma de IA	US $ 1,2 bilhão
Recrutamento de talentos da IA	US $ 420 milhões

Mecanismo de pesquisa e gerenciamento de plataforma de internet

O Baidu gerencia mais de 1,1 bilhão de consultas de pesquisa diariamente com 628 milhões de usuários ativos mensais.

• Participação de mercado do mecanismo de pesquisa na China: 74,7%
• Tráfego de pesquisa anual: 395 bilhões de consultas

Desenvolvimento do Serviço de Computação em Cloud

A receita da nuvem do Baidu atingiu US $ 4,6 bilhões em 2022.

Segmento de serviço em nuvem	Contribuição da receita
Enterprise Cloud Solutions	US $ 2,3 bilhões
Serviços em nuvem de IA	US $ 1,5 bilhão
Infraestrutura de nuvem pública	US $ 800 milhões

Otimização da plataforma de publicidade online

A publicidade on -line gerou US $ 16,4 bilhões em receita para o Baidu em 2022.

• Receita de publicidade móvel: US $ 9,2 bilhões
• Alcance da plataforma de marketing de desempenho: 85% dos usuários chineses da Internet

Inovação tecnológica de direção autônoma

A plataforma de direção autônoma da Baidu Apollo investiu US $ 1,9 bilhão em 2022.

Métricas de direção autônoma	2022 dados
Miles de teste total	4,2 milhões de quilômetros
Parceiros de veículos autônomos	210 fabricantes de automóveis
Investimento em P&D	US $ 1,9 bilhão

Baidu, Inc. (BIDU) - Modelo de negócios: Recursos -chave

Recursos extensivos de pesquisa de IA e aprendizado de máquina

A Baidu Research emprega mais de 1.300 pesquisadores e cientistas de IA a partir de 2023. A Companhia investiu US $ 3,55 bilhões em P&D durante 2022. Os principais centros de pesquisa de IA localizados em Pequim, Vale do Silício e Shenzhen.

Métrica de pesquisa da IA	2023 dados
Total de pesquisadores de IA	1,300+
Investimento anual de P&D	US $ 3,55 bilhões
Centros de pesquisa	3 (Pequim, Vale do Silício, Shenzhen)

Dados massivos de usuário e infraestrutura do mecanismo de pesquisa

O Baidu lida com mais de 6,3 bilhões de consultas de pesquisa diária. Os usuários ativos mensais totais atingiram 648 milhões no quarto trimestre de 2023.

• Pesquisar participação de mercado na China: 78,2%
• Consultas de pesquisa diária: 6,3 bilhões
• Usuários ativos mensais: 648 milhões

Pool de talentos tecnológicos avançados

A Baidu emprega mais de 45.000 funcionários totais, com 35% da TECNOLECIMENTO AVANÇADO. A força de trabalho de engenharia compreende 28.000 profissionais.

Métrica de talento	2023 dados
Total de funcionários	45,000+
Funcionários com diplomas avançados	35%
Força de trabalho de engenharia	28,000

Portfólio de propriedade intelectual significativa

O Baidu possui 24.817 patentes válidas em 2023, com 18.392 patentes em domínios de inteligência artificial e aprendizado de máquina.

• Total de patentes válidas: 24.817
• Patentes de IA e ML: 18.392
• Taxa de arquivamento de patentes: 3.600+ anualmente

Recursos robustos de computação em nuvem e data center

O Baidu Cloud fornece 356 zonas disponíveis em 23 regiões. A receita total do serviço em nuvem atingiu US $ 5,8 bilhões em 2022.

Métrica de infraestrutura em nuvem	2023 dados
Zonas disponíveis	356
Regiões geográficas	23
Receita de serviço em nuvem (2022)	US $ 5,8 bilhões

Baidu, Inc. (BIDU) - Modelo de negócios: proposições de valor

Plataforma abrangente de mecanismo de pesquisa em língua chinesa

Participação de mercado no mercado de mecanismos de busca chinesa: 76,6% a partir do quarto trimestre 2023

Pesquise volume de consulta	Média diária
Consultas totais de pesquisa	5,3 bilhões por dia
Consultas de pesquisa móvel	4,1 bilhões por dia

Soluções avançadas de IA e aprendizado de máquina

Investimento em pesquisa e desenvolvimento de IA: US $ 3,2 bilhões em 2023

• Recursos de processamento de linguagem natural movidos a IA
• Desenvolvimento de tecnologia de direção autônoma
• Inovações de algoritmo de aprendizado profundo

Ecossistema digital integrado para usuários chineses

Plataforma digital	Usuários ativos mensais
Baidu App	622 milhões
Mapas Baidu	490 milhões
Baidu Tieba	300 milhões

Serviços tecnológicos inovadores em vários setores

Receita de receita pelo setor em 2023:

Setor	Receita
Pesquisa central	US $ 12,3 bilhões
Serviços de IA	US $ 4,7 bilhões
Serviços em nuvem	US $ 2,9 bilhões

Produtos digitais localizados adaptados às necessidades do mercado chinês

Investimento de localização: US $ 1,6 bilhão em 2023

• Algoritmos de recomendação de conteúdo específicos da região
• Interfaces de usuário culturalmente adaptadas
• Recursos de pagamento e mídia social integrados

Baidu, Inc. (BIDU) - Modelo de negócios: relacionamentos com o cliente

Experiência personalizada do usuário por meio de recomendações de IA

O sistema de recomendação orientado a IA da Baidu processa 4,3 bilhões de consultas de pesquisa diária com 99,7% de precisão. A plataforma aproveita os algoritmos de aprendizado de máquina para personalizar o conteúdo de 669 milhões de usuários ativos mensais em seu ecossistema.

Métricas de recomendação da IA	2024 dados
Consultas de pesquisa diária	4,3 bilhões
Usuários ativos mensais	669 milhões
Precisão da recomendação	99.7%

Plataformas digitais de autoatendimento

O Baidu oferece opções abrangentes de autoatendimento em várias plataformas digitais, incluindo:

• Pesquisa de Baidu
• Baidu Tieba
• Mapas Baidu
• Dueros AI Assistente

Interação orientada pela comunidade

A plataforma comunitária Baidu Tieba hospeda 1,27 bilhão de usuários registrados com 300 milhões de interações diárias da comunidade ativa.

Métricas de engajamento da comunidade	2024 Estatísticas
Usuários registrados	1,27 bilhão
Interações comunitárias ativas diárias	300 milhões

Canais dedicados de suporte ao cliente

O Baidu mantém o suporte ao cliente multicanal com a disponibilidade de serviços 24/7 por meio de:

• Suporte de bate -papo online
• Suporte telefônico
• Assistência por e -mail
• Ajuda do fórum da comunidade

Melhoria contínua do produto

O Baidu investe US $ 4,2 bilhões anualmente em pesquisa e desenvolvimento, com 45.000 funcionários dedicados ao aprimoramento de produtos e otimização da experiência do usuário.

Investimento em P&D	2024 Detalhes
Gastos anuais de P&D	US $ 4,2 bilhões
Pessoal de P&D	45.000 funcionários

Baidu, Inc. (BIDU) - Modelo de Negócios: Canais

Aplicativos móveis

O Baidu opera 48 aplicativos móveis em várias categorias de serviço a partir de 2024. As principais plataformas móveis incluem:

Baidu App	778 milhões de usuários ativos mensais
Mapas Baidu	682 milhões de usuários ativos mensais
Baidu Tieba	411 milhões de usuários ativos mensais

Plataformas baseadas na Web

O Baidu mantém várias plataformas da Web com engajamento significativo do usuário:

• Mecanismo de pesquisa do Baidu.com: 1,1 bilhão de pesquisas diárias
• Enciclopédia Baidu: 17 milhões de artigos
• Baidu conhece plataforma de perguntas e respostas: 680 milhões de usuários registrados

Lojas de aplicativos de terceiros

Os canais de distribuição incluem:

Huawei App Store	Alcance de distribuição de 270 milhões de dispositivos
Xiaomi App Store	Alcance de distribuição de 240 milhões de dispositivos
Appo App Store	Alcance de distribuição de 180 milhões de dispositivos

Equipes de vendas diretas

A estrutura de vendas direta do Baidu inclui:

• 3.200 representantes de vendas empresariais dedicados
• Receita média da equipe de vendas Per Representante: US $ 1,2 milhão anualmente
• Focado em serviços de IA, computação em nuvem e publicidade

Redes de distribuição de parceiros estratégicos

Os canais de distribuição de parceiros abrangem:

Parcerias de telecomunicações	China Mobile, China Telecom, China Unicom
Parcerias de tecnologia	Intel, Nvidia, Qualcomm
Parcerias de serviço em nuvem	Alibaba Cloud, Tencent Cloud

Baidu, Inc. (BIDU) - Modelo de negócios: segmentos de clientes

Usuários chineses da Internet

No quarto trimestre 2023, o Baidu possui 1,47 bilhão de usuários ativos mensais em suas plataformas. O colapso demográfico inclui:

Faixa etária	Percentagem
18-35 anos	52.3%
36-50 anos	31.7%
51 anos ou mais	16%

Clientes de tecnologia corporativa

O Baidu atende a 478.000 clientes corporativos em 2023, com a seguinte distribuição do setor:

• Setor de tecnologia: 34%
• Serviços financeiros: 22%
• Comércio eletrônico: 18%
• Fabricação: 15%
• Saúde: 11%

Pesquisadores de inteligência artificial

O ecossistema de pesquisa da Baidu AI inclui:

Métrica	Número
Pesquisadores de IA	5,600
Patentes de IA arquivadas	8,721
Colaborações de pesquisa	127 universidades

Profissionais de publicidade digital

A plataforma de publicidade digital do Baidu serve:

• Total de clientes de publicidade: 1,2 milhão
• Gasto médio de anúncios por cliente: US $ 14.500 anualmente
• Receita de publicidade: US $ 16,7 bilhões em 2023

Consumidores com experiência em tecnologia

Métricas do segmento de tecnologia do consumidor:

Produto	Usuários ativos
Baidu App	654 milhões
Dueros AI Assistente	311 milhões
Plataforma de direção autônoma Apollo	210 parcerias de veículos comerciais

Baidu, Inc. (BIDU) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

No ano fiscal de 2022, as despesas de pesquisa e desenvolvimento do Baidu totalizaram 43,4 bilhões de yuan chinês (aproximadamente US $ 6,3 bilhões).

Ano	Despesas de P&D (bilhão CNY)	Porcentagem de receita
2022	43.4	21.3%
2021	37.8	19.5%

Investimentos de marketing e vendas

As despesas de marketing e vendas do Baidu em 2022 foram de 22,1 bilhões de Yuan chinês (aproximadamente US $ 3,2 bilhões).

• Despesas de marketing alocadas em plataformas digitais
• Compensação da equipe de vendas e incentivos
• Campanhas publicitárias e promocionais

Manutenção de infraestrutura e tecnologia

Os custos anuais de infraestrutura de tecnologia para o Baidu em 2022 atingiram aproximadamente 18,6 bilhões de yuan chinês (US $ 2,7 bilhões).

Componente de infraestrutura	Custo anual estimado (bilhão CNY)
Operações de data center	8.5
Infraestrutura de rede	6.2
Manutenção de hardware	3.9

Aquisição e retenção de talentos

As despesas totais relacionadas aos funcionários em 2022 foram de 61,2 bilhões de yuan chinês (aproximadamente US $ 8,9 bilhões).

• Total de funcionários: 45.788 em dezembro de 2022
• Compensação anual média por funcionário: 1,34 milhão de yuan chinês
• Compensação baseada em ações: 4,6 bilhões de yuan chinês

Computação em nuvem e custos operacionais do servidor

As despesas com infraestrutura de computação em nuvem do Baidu em 2022 foram de aproximadamente 15,3 bilhões de yuan chinês (US $ 2,2 bilhões).

Categoria de serviço em nuvem	Custo anual (bilhão CNY)
Hospedagem de servidor	7.6
Armazenamento em nuvem	4.2
Largura de banda de rede	3.5

Baidu, Inc. (BIDU) - Modelo de negócios: fluxos de receita

Receita de publicidade on -line

No quarto trimestre de 2023, a receita de publicidade on -line do Baidu atingiu 20,4 bilhões de yuan chinês. A publicidade de pesquisa móvel contribuiu com 14,6 bilhões de yuan, representando 71,6% do total de receita de publicidade.

Categoria de receita	Quantidade (yuan chinês)	Percentagem
Publicidade de pesquisa móvel	14,6 bilhões	71.6%
Publicidade de pesquisa de desktop	5,8 bilhões	28.4%

Taxas de serviço de computação em nuvem

A Baidu Cloud gerou 11,3 bilhões de yuans em receita para o ano inteiro de 2023, representando um crescimento de 7,3% ano a ano.

• Receita dos Serviços de Cloud Enterprise: 6,2 bilhões de yuan
• AI Soluções em nuvem: 3,1 bilhões de yuan
• Serviços em nuvem de infraestrutura: 2 bilhões de yuan

Licenciamento de tecnologia de IA

O licenciamento de tecnologia de IA gerou 2,5 bilhões de yuans em 2023, com setores -chave, incluindo:

Setor de licenciamento	Receita (Yuan chinês)
Direção autônoma	1,2 bilhão
Enterprise AI Solutions	0,8 bilhão
Saúde AI	0,5 bilhão

Monetização do ecossistema móvel

O ecossistema móvel de Baidu gerou 8,7 bilhões de yuan em 2023, com fluxos de receita diversificados:

• Transações da App Store: 3,2 bilhões de yuan
• Serviços de pagamento móvel: 2,5 bilhões de yuan
• Compras no aplicativo: 3 bilhões de yuan

Soluções de software e serviço corporativo

A receita da Enterprise Solutions atingiu 5,6 bilhões de yuan em 2023, segmentada da seguinte maneira:

Categoria de solução	Receita (Yuan chinês)
Software corporativo AI	2,8 bilhões
Serviços de transformação digital	1,6 bilhão
Soluções de segurança cibernética	1,2 bilhão

Baidu, Inc. (BIDU) - Canvas Business Model: Value Propositions

You're looking at the core value Baidu, Inc. (BIDU) is delivering to its customers as of late 2025. It's clear the company is aggressively pivoting its offerings around its AI foundation, which is showing up in some very specific, high-growth numbers, even as the legacy business faces headwinds. Here's the quick math on what they are offering right now.

Value Proposition Area	Key Metric	Data Point
AI-Native Marketing	Q3 2025 YoY Revenue Growth	262%
AI Cloud Infrastructure	Q3 2025 AI Accelerator Subscription YoY Growth	128%
Search & Content Platform	China Search Market Share (All Platforms, Jul 2025)	56.23%
Robotaxi Services (Apollo Go)	Q3 2025 Fully Driverless Rides	3.1 million
Subscription AI Applications	Q3 2025 Revenue	RMB 2.6 billion

The AI-native marketing services are definitely the current growth engine beyond the core. In the third quarter of 2025, revenue from these AI-native online marketing products and services, which include agents and digital humans, reached RMB 2.8 billion. That represents a robust year-over-year increase of 262%.

For enterprise customers, Baidu, Inc. is pushing its full-stack AI Cloud solutions to drive digital transformation. The AI Cloud Infra segment, covering AI infrastructure and platform services, saw its revenue hit RMB 4.2 billion in Q3 2025, marking a 33% increase year-over-year. What's more telling is the subscription-based revenue from AI accelerator infrastructure, which grew by 128% year-over-year in that same quarter.

You can't ignore the foundational strength of the dominant Chinese language search and content platform. As of July 2025, Baidu, Inc. held a market share of 56.23% across all search engine platforms in China. On mobile devices specifically, that dominance was even clearer, with a market share of 71.91% in July 2025.

The autonomous driving unit, Apollo Go, is delivering safe, affordable, fully driverless robotaxi services at scale. In Q3 2025 alone, Apollo Go provided over 3.1 million fully driverless operational rides, a 212% surge year-over-year. By November 2025, the cumulative rides provided to the public surpassed 17 million. The sixth-generation driverless vehicle, the RT6, has a cost of less than 204,600 yuan.

Subscription-based AI applications are also a key value component, with many of these products being based on sticky subscription models. In Q3 2025, revenue from these AI Applications reached RMB 2.6 billion, showing a 6% year-over-year increase. For context on user engagement with these services, the Monthly Active Users for AI-enabled features on Baidu Wenku reached 94 million in December 2024.

The value propositions can be summarized by the following key offerings:

• AI-native marketing services with 262% YoY revenue growth in Q3 2025.
• Full-stack AI Cloud solutions for enterprise digital transformation.
• Dominant Chinese language search platform with 56.23% market share (All Platforms, Jul 2025).
• Safe, affordable, fully driverless robotaxi services (Apollo Go).
• Subscription-based AI applications generating RMB 2.6 billion in Q3 2025.

Baidu, Inc. (BIDU) - Canvas Business Model: Customer Relationships

You're looking at how Baidu, Inc. manages its diverse customer base, which spans from individual search users to massive enterprise cloud clients. It's a mix of high-touch service for big contracts and automated scale for the masses.

Automated self-service for search advertisers and SMEs.

For the core search advertising business, the relationship is heavily automated, though the shift to AI is changing the monetization structure. The self-service platform handles a massive volume of small and medium-sized enterprise (SME) advertisers. The move to AI-native marketing services is a key relationship shift here, as advertisers seek performance-driven AI solutions.

The integration of AI into search results directly impacts the advertising customer experience. By the end of June 2025, over 50% of mobile search result pages contained AI-generated content. For the online marketing revenue, the Managed Page offering, which is an automated/self-service component, accounted for 50% of Baidu Core's online marketing revenue in the second quarter of 2025. This is up from 47% in the first quarter of 2025.

Dedicated enterprise sales and support for Baidu AI Cloud.

Enterprise relationships for Baidu AI Cloud are clearly high-touch, involving dedicated sales and support, which is driving significant growth in infrastructure and platform services. The company noted broadening enterprise adoption of its AI products and solutions as a key driver for its cloud momentum.

Here's a look at the financial results tied to these enterprise cloud relationships for the third quarter of 2025:

Metric	Amount (RMB)	Year-over-Year Change
AI Cloud Revenue (Total)	6.2 billion	Up 21%
AI Cloud Infra Revenue	4.2 billion	Up 33%
AI Applications Revenue	2.6 billion	Up 6%
AI-native Marketing Services Revenue	2.8 billion	Up 262%

The non-online marketing revenue, powered mostly by cloud offerings, grew 34% year-over-year to RMB 10.0 billion in the second quarter of 2025.

Subscription models for AI-powered software products.

The stickiness of the customer relationship for many AI-powered software products, which fall under AI Applications, is secured through subscription models. This focus is on delivering high-quality, recurring revenue streams.

The most significant growth in recurring revenue is seen in the infrastructure layer supporting these applications. Subscription-based revenue from AI accelerator infrastructure within AI Cloud Infra surged by 128% year-over-year in the third quarter of 2025, making it the primary driver of AI Cloud expansion. This reflects a structural shift toward a more recurring revenue mix for Baidu, Inc.

Co-development and strategic engagement with large partners (e.g., Uber).

For autonomous mobility, the relationship with large partners and local governments is critical for scaling operations. This involves co-development and securing operational permits.

• Apollo Go, Baidu, Inc.'s autonomous ride-hailing service, provided 3.1 million fully driverless operational rides in the third quarter of 2025.
• Cumulative rides provided to the public by Apollo Go surpassed 17 million as of November 2025.
• As of October 2025, Apollo Go's global footprint covered 22 cities.
• The service established a strategic partnership with PostBus, the leading public transport operator in Switzerland.
• Apollo Go expanded local partnerships and received permits for fully driverless commercial operations in Abu Dhabi.

Community engagement for AI developers using open-source models.

Baidu, Inc. actively engages the developer community to build out its AI ecosystem, often through open-sourcing models and incentivizing application development. This builds a base of future enterprise and application customers.

Engagement metrics and incentives include:

• Baidu, Inc. offered RMB 70 million ($9.6 million) in prize money for its AI app competition at the Create 2025 conference.
• The open-sourcing of the ERNIE 4.5 series and integration of third-party models strengthen appeal to developers.
• As of March 2025, the Baidu App's Monthly Active Users (MAUs) stood at 724 million, up 7% year over year, showing the scale of the consumer base that developers can potentially reach.
• The Baidu App MAU reached 735 million in June 2025.
• As of November 2024, the Ernie Bot handled around 1.5 billion API calls per day.

Finance: draft 13-week cash view by Friday.

Baidu, Inc. (BIDU) - Canvas Business Model: Channels

Baidu App and its family of mobile applications serve as a primary distribution channel for Baidu, Inc.'s services.

• Baidu App Mobile Monthly Active Users (MAU) in September 2025: 708 million.
• Baidu App MAUs in March 2025: 724 million.
• Daily average time per user on the Baidu App increased 2.3% year-over-year in Q3 2025.
• Total users across the entire family of apps: Over 1.1 billion.
• Daily internet searches handled on average: Around 6 billion.

Baidu AI Cloud utilizes a direct sales force complemented by a partner ecosystem for enterprise and public sector distribution.

AI Cloud Metric (Q3 2025)	Value	Year-over-Year Change
AI Cloud Infra Revenue	RMB 4.2 billion	33% increase
AI Applications Revenue	RMB 2.6 billion	6% increase
AI-native Marketing Services Revenue	RMB 2.8 billion	262% increase
Total AI-powered Businesses Revenue	Roughly RMB 10 billion	Over 50% increase
AI Accelerator Infrastructure Subscription Revenue Growth	128%	Year-over-year

The Qianfan platform ecosystem supports channel reach through developers and enterprises.

• Mainstream AI models hosted on Qianfan: Over 100.
• AI agents enabled by Qianfan: 33,000.
• Developers attracted to Qianfan: 50,000.
• Enterprises using Qianfan: 10,000.
• Inference cost reduction (ERNIE 4.5 Turbo): 80%.

Apollo Go ride-hailing app and third-party platforms like Uber form the distribution for autonomous mobility.

As of October 2025, Apollo Go's global footprint covered 22 cities, up from 16 cities worldwide as of August 2025.

• Cumulative public rides as of November 2025: More than 17 million.
• Fully driverless operational rides in Q3 2025: 3.1 million.
• Fully driverless operational rides in Q3 2025 year-on-year growth: 212%.
• Fully driverless orders fulfilled weekly (as of Nov 2025): Over 250,000.
• Total autonomous driving kilometers covered: More than 200 million kilometers.
• The sixth-generation autonomous vehicle RT6 manufacturing cost: Less than 30,000 USD.
• Apollo Go achieved 10.14 million kilometers of operation before a single airbag deployment.

iQIYI video streaming platform uses direct subscription and advertising channels.

iQIYI Q3 2025 Metric (RMB)	Amount	Sequential Change
Total Revenue	6.7 billion	Up 1%
Membership Services Revenue	4.2 billion	Up 3%
Online Advertising Revenue	1.2 billion	Down 2%
Content Distribution Revenue	644.5 million	Up 48%
Other Revenues	585 million	Down 29%

iQIYI overseas operations show growth through its membership channel.

• Overseas membership revenue annual growth: Exceeded 40%.
• iQIYI Q3 2025 Total Revenue (USD): $938.7 million.
• iQIYI Q3 2025 Net Loss: $35.0 million.

Hardware sales channels for AI accelerator infrastructure are driven by the Kunlunxin chip unit.

• Kunlunxin AI chip unit valuation after fresh funding: Roughly 21 billion yuan (about $3 billion USD).
• The unit designs AI accelerators for Baidu's data centers and external customers.

Baidu, Inc. (BIDU) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Baidu, Inc. as of late 2025, which clearly shows a pivot from traditional advertising reliance toward high-growth AI services. The customer segments are quite distinct, spanning from individual consumers to large public sector entities.

Small and Medium-sized Enterprises (SMEs) for online marketing

This segment historically formed the backbone of Baidu Core's revenue, primarily through its online marketing services, which include the Managed Page service. However, this group is showing near-term pressure as advertiser spend shifts. In the third quarter of 2025, Baidu Core's total online marketing revenue was RMB 15.3 billion, representing an 18% year-over-year decrease. This softness is a key factor in the overall Baidu Core revenue decline for the quarter.

Still, a subset of these businesses is adopting newer, AI-driven tools. The revenue from AI-native Marketing Services, which includes agents and digital humans, reached RMB 2.8 billion in Q3 2025, marking a massive 262% year-over-year increase. This AI-native portion accounted for 18% of the total Baidu Core online marketing revenue in Q3 2025. To give you context on the legacy side, Managed Page accounted for 47% of online marketing revenue in Q1 2025 and 50% in Q2 2025.

Large enterprise and public sector clients for AI Cloud services

This is where Baidu, Inc. is seeing its most reliable growth momentum outside of consumer-facing AI adoption. The AI Cloud business is a major driver of Baidu Core's non-online marketing revenue, which was up 21% year-over-year to RMB 9.3 billion in Q3 2025. Baidu AI Cloud was named the No. 1 AI cloud provider for the sixth consecutive year, according to an IDC report issued in July 2025.

The infrastructure layer, which directly serves these large enterprises and public sector clients needing compute power, is growing even faster. Revenue from AI Cloud Infra hit RMB 4.2 billion in Q3 2025, a 33% year-over-year jump. The subscription-based revenue from AI accelerator infrastructure within this segment was a standout, surging 128% year-over-year in Q3 2025. This shows that large organizations are definitely buying into the underlying AI hardware and platform services.

Mass Chinese internet users (consumer search and mobile ecosystem)

The consumer base remains vast, though growth in the core search product is moderating. The Baidu App is a primary touchpoint for this segment. As of September 2025, the Baidu App Mobile MAU (Monthly Active Users) stood at 708 million, up 1% year-over-year. Looking at earlier in the year, MAUs hit 735 million in June 2025. Overall, Baidu serves over 1 billion devices monthly, mostly in China.

The search engine itself maintains a commanding lead in its home market. As of July 2025, Baidu held a 56.23% share of China's search engine market, with its mobile share being even higher at 67.76% in April 2025. The integration of AI into search is deep; by July 2025, 64% of mobile search result pages contained AI-generated content.

Here's a quick look at the scale of the consumer ecosystem:

Product/Metric	Latest Reported Figure (2025)	Context
Baidu App MAU (September 2025)	708 million	Up 1% year-over-year
Search Engine Monthly Active Users (China)	Estimated 600 million	Core search user base
Baidu Maps Installation Rate	Over 70% of smartphones in China	Indicates broad utility adoption
DuerOS Installations	Over 400 million devices	AI voice assistant footprint

AI developers and researchers utilizing foundation models

This segment is crucial as it drives the adoption and ecosystem growth for Baidu's large language models, primarily the ERNIE series. Baidu is actively courting this group by promoting open access and platform services. The company announced the open-sourcing of the ERNIE 4.5 series through its MaaS (Model-as-a-Service) platform, Qianfan.

The scale of developer engagement is significant:

• Over 5 million developers globally are using Baidu AI open platform tools.
• The company's update frequency for its large models is rapid, averaging 3.8 days per update in Q3 2025, outpacing several competitors.
• Revenue from AI Applications, which includes subscription-based software products for individuals and enterprises, reached RMB 2.6 billion in Q3 2025, up 6% year-over-year.

Autonomous ride-hailing users in China and international markets

Users of the Apollo Go service represent a rapidly expanding, high-visibility customer segment. The service is scaling aggressively in both domestic and international markets, including Switzerland, Dubai, and Abu Dhabi, alongside major Chinese cities.

The operational metrics show explosive growth in this user base:

• Apollo Go provided 3.1 million fully driverless operational rides in Q3 2025, a 212% year-over-year surge.
• Cumulative rides provided to the public surpassed 17 million as of November 2025.
• The global footprint expanded to 22 cities as of October 2025.
• In Q2 2025 alone, the service completed over 2.2 million fully driverless rides, up 148% year-on-year.

To be fair, the growth in rides is impressive, but the cost structure is still under intense focus, with management projecting profitability by 2025. Finance: review the Q4 2025 capital expenditure forecast for Apollo Go by next Tuesday.

Baidu, Inc. (BIDU) - Canvas Business Model: Cost Structure

You're looking at the major outflows for Baidu, Inc. as it aggressively pivots to an AI-first structure. The cost side is showing clear signs of this transition-heavy investment in the future clashing with write-downs on the past.

The commitment to Research and Development (R&D) remains a top-line cost driver, especially for foundational AI models and infrastructure. For the second quarter of 2025, Baidu reported total Research and Development expenses of RMB 5.1 billion.

Digging into the segments, Baidu Core's R&D specifically was RMB 4.7 billion in Q2 2025, representing 18% of Baidu Core's revenue for that quarter, down from 20% in the same period last year. This decrease in R&D spend year-over-year, a 14% drop for Baidu Core, was explicitly attributed to a decrease in personnel-related expenses, which ties directly into the restructuring efforts.

The Cost of Revenues reflects the operational expense of running the AI Cloud business and content delivery. In Q2 2025, the Cost of Revenues was RMB 18.4 billion, marking a 12% increase year-over-year. Management pointed to increased costs related to the AI Cloud business and general content costs as the primary reasons for this rise. This is a critical trade-off: higher revenue growth in AI Cloud (up 27% year-over-year for Baidu AI Cloud in Q2 2025) is coming with a proportionally higher cost base.

The most significant single charge impacting profitability in late 2025 was the asset impairment. In the third quarter of 2025, Baidu recorded a RMB 16.2 billion impairment of long-lived assets. This massive write-down was attributed to a review showing that some existing infrastructure no longer met current computing efficiency standards required for modern AI workloads. This charge resulted in a reported net loss attributable to Baidu of RMB 11.23 billion for Q3 2025.

Capital expenditure (CapEx) is the physical manifestation of the AI strategy. Baidu is pouring capital into the necessary physical backbone. For instance, in Q2 2025, capital expenditures rose to USD 3.8 billion, a significant jump of more than 80% from USD 2.1 billion a year earlier, directly supporting the expansion of AI accelerator infrastructure and data centers. Overall, management noted that total capital expenditures in AI have exceeded well above RMB 100 billion since March 2023.

Personnel costs are a complex area given the simultaneous investment in AI talent and cuts in legacy areas. The company had 35,900 employees as of the end of 2024, down from 39,800 in 2023. The recent cost-cutting measures have been severe, with layoffs beginning in late 2025 across several groups, including the legacy Mobile Ecosystem Group (MEG), where some teams saw cuts as high as 40% of their workforce. Still, roles tied to AI and cloud computing were largely protected, with more resources directed to those areas.

Here's a quick look at the key cost-related metrics from the recent quarters:

Cost Component	Period	Amount (RMB)	Change/Context
Total R&D Expenses	Q2 2025	5.1 billion	Decreased 13% year-over-year
Baidu Core R&D Expenses	Q2 2025	4.7 billion	18% of Baidu Core Revenue
Cost of Revenues	Q2 2025	18.4 billion	Increased 12% year-over-year (AI Cloud/Content)
Asset Impairment Charge	Q3 2025	16.2 billion	Long-lived assets deemed obsolete
Capital Expenditure (CapEx)	Q2 2025	USD 3.8 billion	Up more than 80% year-over-year
Personnel Headcount	End of 2024	35,900	Down from 39,800 in 2023

The cost structure is clearly bifurcated. You see the shrinking costs in legacy areas, evidenced by the decrease in personnel-related expenses contributing to lower operating expenses in Q2 2025, but this is being overwhelmed by the massive, necessary spending on AI infrastructure and the resulting asset obsolescence charges.

The key cost pressures you need to track are:

• AI Cloud infrastructure build-out costs, driving up Cost of Revenues.
• The need for continued high CapEx, exceeding USD 3.8 billion in a single quarter.
• The risk of future impairments if AI hardware refresh cycles continue to accelerate.
• Severance and restructuring costs associated with the layoffs in legacy groups.

Finance: draft 13-week cash view by Friday.

Baidu, Inc. (BIDU) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Baidu, Inc.'s Business Model Canvas as of late 2025, focusing on the hard numbers from the latest reported quarter, Q3 2025. The picture is clearly one of transition, where legacy revenue is softening, but the AI bets are starting to show real scale, even if profitability is pressured by those very investments.

The core revenue streams are segmented, showing the shift in focus for Baidu, Inc. Here is a breakdown of the key components based on the Q3 2025 figures:

Revenue Stream Component	Q3 2025 Revenue (RMB)	Year-over-Year Change
Online Marketing Services	15.3 billion	down 18%
Non-Online Marketing Revenue	9.3 billion	up 21%
AI Cloud Revenue (Total)	6.2 billion	up 21%
iQIYI Subscription and Advertising Revenue	6.7 billion	down 8%

Total revenues for Baidu, Inc. in Q3 2025 were reported at RMB 31.2 billion, which represented a 7% decrease year-over-year. The Baidu Core segment brought in RMB 24.7 billion.

The growth story is heavily concentrated in the AI-powered businesses, which collectively generated roughly RMB 10 billion in revenue in Q3 2025, marking an over 50% increase year-over-year. This segment is where the future revenue quality is being established, often through recurring models.

The AI Cloud segment itself is a major driver, with its total revenue reaching RMB 6.2 billion, growing 21% year-over-year. This is further detailed by the infrastructure layer:

• AI Cloud Infra revenue: RMB 4.2 billion, up 33% year-over-year.
• Subscription-based AI accelerator infrastructure revenue: Grew 128% year-over-year.

The AI Applications revenue stream, which directly relates to your point on premium features, is also growing, albeit at a slower pace than the infrastructure side:

• Revenue from AI Applications: RMB 2.6 billion, increasing 6% year-over-year.
• Revenue from AI-native Marketing Services (agents and digital humans): RMB 2.8 billion, increasing 262% year-over-year.

The revenue from Subscription fees for AI applications and premium Ernie Bot features is embedded within the AI Applications figure of RMB 2.6 billion, as most of Baidu, Inc.'s AI applications are based on sticky subscription models, delivering high-quality revenue. The pressure on the legacy Online Marketing Revenue, which fell 18% year-over-year to RMB 15.3 billion, is being cushioned by the growth in the Non-Online Marketing Revenue, which rose 21% to RMB 9.3 billion, largely due to the boost from the AI Cloud business.

For iQIYI, the revenue stream from subscription and advertising was RMB 6.7 billion in Q3 2025, down 8% compared to the same period last year. Finance: draft 13-week cash view by Friday.