On November 22, Gelonghui reported that after Baidu released its third-quarter financial report, Goldman Sachs stated in its research reports that Baidu demonstrates a strong determination to transform its business through ai and places great importance on user experience in consumer-oriented businesses such as search. Currently, driven by ai, Baidu Smart Cloud is accelerating its growth, with expectations that the growth rate in the fourth quarter will further increase to 15%. The proportion of ai revenue is also expected to continue to rise, maintaining strong growth momentum through 2025. Goldman Sachs noted that considering the financial aspects, Baidu has stable cash flows, ample cash reserves, and potential long-term opportunities in business areas such as ai cloud, autonomous driving, and search. The current valuation impact is deemed unreasonable. Goldman Sachs assigned a 'buy' rating to Baidu in the research reports and set a target price of $107 per share / 104 HKD.