King Five Financial News | Baidu Group (09888) stock price surges, as of the time of reporting, up 9.09%, at 115.2 Hong Kong dollars, with a turnover of 1.17 billion Hong Kong dollars.

On the news front, the 2024 Baidu Cloud intelligence conference will be held in Beijing on September 25th and 26th. Baidu will upgrade the Qianfan Big Model Platform 3.0 and AI Computing Platform 4.0, two key AI infrastructure focusing on computing power, Large Language Models (LLM), and AI applications. At the same time, the company is enhancing three AI native applications. CICC believes that the company's three major native AI application products are fully upgraded. Building on the infrastructure of digital humans and intelligent customer service developed by Baidu, the company will upgrade its native application products in the fields of digital humans, intelligent customer service, and code efficiency. The bank believes that benchmark applications in segmented tracks are expected to drive industry exploration of the diversity of large model applications.

Dahua Jixian Research Report indicates that the target price for Baidu remains unchanged, rising from 85 Hong Kong dollars to 90 Hong Kong dollars, maintaining a 'hold' rating. The bank remains cautious about the slowdown in Baidu's advertising revenue growth and is concerned about the uncertainty of its autonomous driving business monetization ability. However, the bank expects these concerns to be offset by the company's advanced infrastructure, the continuous revenue growth of GPU cloud services, and cross-selling of CPU cloud services.