Chief Financial Officer Henry He stated in September 2026 that Baidu’s AI operations are projected to generate profits comparable to its traditional online search and advertising business. In Q2 2026, core AI activities contributed RMB 12.5 billion, representing 50% of total revenue with 25% year-over-year growth. AI cloud infrastructure reached RMB 7.3 billion, up 50% annually, while GPU services surged 283%. The payback period for GPU clusters has been revised down to two to three years from the previous estimate of five to six years. Baidu is planning a dual primary listing in Hong Kong and the spin-off of its chip unit Kunlunxin.
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