Overview
Baidu introduced a new disclosure framework in the third quarter of 2025 that reports AI Cloud Infra as part of its AI-powered business[12]. Revenue from AI Cloud Infra was RMB19.8 billion for 2025, up 34%, or about US$2.75 billion at this list’s rate[12][1]. Baidu says the figure comes from its internal management accounts and is unaudited[12]. Subscription revenue from AI accelerator infrastructure rose 143% in the fourth quarter[12]. Baidu is headquartered on the Baidu Campus in Haidian District, Beijing.
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