Goldman Sachs: Maintains a "Buy" rating on Baidu Group-SW, focusing on artificial intelligence initiatives and expansion of unmanned taxi services.

Goldman Sachs released a research report stating that it maintains a "buy" rating on Baidu Group-SW. The bank believes that Baidu has undergone a deep reshaping of its search business in the middle of 2025. Driven by strong demand for artificial intelligence and the subscription model, the cloud business should remain robust. Baidu Apollo is rapidly expanding its fleet globally, and as the scale further expands and begins to adopt a profitable business model, the bank believes that the market will start to look favorably on its autonomous taxi business.