Baidu, Inc. is a comprehensive technology and internet services company primarily operating in China. The company's business is divided into two main segments: Baidu Core and iQIYI. Baidu Core encompasses the company's traditional search engine and feed-based online marketing services, which generate the majority of its revenue through pay-per-click advertising. This segment also includes Baidu's rapidly growing non-marketing initiatives, such as Baidu AI Cloud, the Apollo autonomous driving platform, and the ERNIE generative AI model. iQIYI is a leading online entertainment service provider in China, offering original and licensed video content. In 2023, Baidu generated approximately 56% of its total revenue from online marketing services within Baidu Core, while iQIYI contributed around 24%, and the remainder came from AI Cloud and other non-marketing services. Geographically, Baidu's operations and revenue base are heavily concentrated in mainland China. The company maintains a dominant competitive position in the Chinese search market and is increasingly leveraging its foundational AI capabilities to transition into a broader enterprise AI and cloud infrastructure provider.
