After a pullback to $300 and its 100-day moving average, we’re betting on an intermediate trend higher for Alphabet Inc (NASDAQ:GOOGL) stock. In December, a similar pullback to this level marked the beginning of a rally up to $350. Earlier this month, the shares broke out and cleared a trendline connecting lower highs since earnings in January. We’re looking at another potential rally to at least $350 by April expiry. Short interest recently hit its highest level since May 2021 and looks like it has begun r ...

I'm a Ukraine-based seasoned investor, who firsthand experienced what’s it like to live in an environment full of systemic geopolitical shocks when the war came to my home country. Despite this, I managed to build an all-weather portfolio that has been able to thrive in volatile markets. My goal is to help investors find event-driven geopolitical ideas that can generate strong returns during periods of economic and political uncertainty.Analyst’s Disclosure: I/we have a beneficial long position in the share ...

智通财经APP获悉，瑞银发布研报称，百度-SW(09888)公布截至去年底止第四季及全年业务，其中第四 季业绩胜预期。为更好向投资者展示其战略方向，集团自第三季起已改善财务披露，并在第四季持续分 享AI业务驱动下的关键指标，相关收入达113亿元人民币，年增48%，占百度通用业务(即核心业务)总 收入的43%。维持百度(BIDU.US)美股目标价180美元，H股目标价175港元，评级均为"买入"。 展望2026财年，瑞银表示，随着AI应用普及率提升、产品持续创新及使用场景拓宽，预计集团AI业务 将保持强劲增长，收入占比进一步提升。虽然集团股价近期出现波动，但认为其分类加总估值法框架维 持稳固。鉴于未来诸多利好因素如旗下昆仑芯 IPO、股息宣布等，认为当前股价风险回报吸引。基于对 营运效率的持续关注，略微上调了核心非通用会计准则营运利润率。 ...

智通财经获悉，韩国周五批准了谷歌(GOOGL.US)将该国高精度地图数据导出至海外服务器的请求，这 是经过二十年拒绝后的重大转变，为这家美国科技巨头进入由本土应用程序主导的市场扫清了道路。 韩国国土交通部在一份声明中指出，此次批准是"在满足严格安全要求的前提下"作出的。 声明中提到，相关条件涵盖了对军事设施及其他敏感安全相关设施进行模糊化处理，同时限制在谷歌地 图、谷歌地球等产品上显示韩国领土的经纬度坐标信息。 此外，谷歌需在本地服务器上处理地图数据，并且仅允许导出与政府预先批准的导航及方向服务相关的 数据。 财经频道更多独家策划、专家专栏，免费查阅>> 该部还补充说明，韩国政府保留要求谷歌修订地图的权利，同时谷歌必须构建安全事件预防框架，以应 对可能出现的紧急问题。 责任编辑：钟离 回顾这一漫长的博弈历程，谷歌与韩国政府的"拉锯战"可追溯至2007年。据了解，韩国仅是谷歌地图无 法正常运行的少数国家之一，这使得Naver和Kakao等本土公司得以主导数字地图服务。 长期以来，韩国官方始终以《测绘法》及国家安全保障为由，拒绝将高精度地理数据存储于境外服务 器，担心此类详细信息一旦被利用，可能危及针对朝鲜的防御 ...

Core Insights - South Korea has approved Google's request to export detailed map data, marking a significant policy shift that reverses a longstanding restriction on the functionality of the tool [1] Group 1 - The approval allows Google to enhance its mapping services in South Korea, which had previously been limited due to regulatory constraints [1] - This decision is expected to improve the accuracy and usability of Google Maps in the region, potentially increasing user engagement and satisfaction [1] - The reversal of the restriction may also open up opportunities for Google to expand its services and partnerships within South Korea's tech ecosystem [1]

Core Viewpoint - South Korea has approved Google's request to export high-precision map data to overseas servers, marking a significant policy shift after two decades of rejections due to national security concerns [1]. Group 1: Regulatory Changes - The approval allows Google to enter a market where it has faced challenges, as South Korea is one of the few countries where Google Maps does not function properly [1]. - Previous requests by Google in 2007 and 2016 were denied on the grounds of national security, citing risks of exposing sensitive military and security facilities [1]. Group 2: Geopolitical Context - The decision comes amid pressure from the United States for South Korea to address perceived discrimination against U.S. tech companies [1].

Summary of Baidu.com Inc. (BIDU) 4Q25 Earnings Call Company Overview - **Company**: Baidu.com Inc. (BIDU) - **Quarter**: 4Q25 - **Revenue**: RMB 32.74 billion, down 4% year-over-year (yoy) but in line with expectations [9] - **Non-GAAP EPADS**: RMB 10.62, down 45% yoy but up 12% compared to Goldman Sachs estimates [9] Key Financial Highlights - **Gross Margin**: 44.4%, an increase of 3.5 percentage points compared to Goldman Sachs estimates [9] - **Baidu General Business Revenue**: RMB 26.1 billion, down 6% yoy, consistent with expectations [9] - **Operating Cash Flow**: Positive in 2H25, generating RMB 3.9 billion combined, with RMB 2.6 billion in 4Q25 [6] Business Segment Reclassification - Baidu redefined its business segments starting from 4Q25: - **AI-powered Business**: RMB 11.3 billion - **Legacy Business**: RMB 12.3 billion - **Others**: RMB 2.5 billion [2] AI-Powered Business Growth - **AI-powered Business Revenue**: Grew 17% quarter-over-quarter (qoq) to approximately RMB 11 billion, now accounting for 43% of Baidu General Business [6] - **AI Cloud Infrastructure Revenue**: RMB 5.8 billion, with a 39% qoq growth; subscription-based revenue surged 143% yoy [6] - **AI Applications Revenue**: RMB 2.7 billion, with a 5% qoq growth [6] - **AI-native Marketing Services Revenue**: RMB 2.7 billion, down 4% qoq but up 110% yoy [6] Apollo Go Developments - **Operational Rides**: Apollo Go provided 3.4 million fully driverless operational rides in 4Q25, a growth of over 200% yoy [6] - **Global Footprint**: Expanded to 26 cities as of February 2026 [6] Shareholder Returns - **Share Repurchase Program**: Announced a new program with up to US$5 billion authorization effective through December 31, 2028 [7] - **Dividend Policy**: Introduced its first-ever dividend policy, with the first payment potentially by year-end 2026 [7] Risks and Methodology - Goldman Sachs has not rated BIDU and highlights potential conflicts of interest due to business relationships with the company [4][11] Additional Financial Metrics - **Total Revenue for FY25**: RMB 102.5 billion, down from RMB 104.7 billion in FY24 [8] - **Operating Profit (GAAP)**: RMB 1.483 billion in 4Q25, down 62% yoy [10] - **Net Profit (GAAP)**: RMB 1.697 billion in 4Q25, down 66% yoy [10] Conclusion Baidu's 4Q25 results reflect a mixed performance with solid growth in AI-powered segments, particularly in AI Cloud Infrastructure, while facing challenges in overall revenue and net profit. The company is taking steps to enhance shareholder value through share repurchase and dividend policies, indicating a focus on returning capital to investors.

Core Insights - Baidu's AI cloud revenue is projected to reach CNY 30 billion for full-year 2025, with AI cloud infrastructure revenue growing 34% year-over-year, driven by AI accelerator infrastructure subscriptions [1] - The company reported total revenues of CNY 32.7 billion in Q4, up 5% quarter-over-quarter, primarily due to growth in its core AI-powered business [3][19] - Baidu's core AI-powered business, which includes AI cloud infrastructure and applications, accounted for over CNY 11 billion, representing 43% of general business revenue in Q4 [4] AI Cloud Infrastructure - Subscription-based revenue from AI accelerator infrastructure grew 143% year-over-year in Q4, accelerating from 128% growth in Q3, and achieved triple-digit growth for full-year 2025 [3] - Baidu's AI cloud infrastructure is supported by a mix of domestic and international high-performance computing resources, with expanding adoption across various industries [2] AI Applications - Baidu's AI-powered search experience is evolving with AI-generated infographics and expanded capabilities across e-commerce, healthcare, and local services [8] - The Ernie Assistant, Baidu's AI chatbot, exceeded 200 million monthly active users in December, with call volume for the AI search API up more than 110% quarter-over-quarter [9][10] Robotaxi Operations - Apollo Go delivered 3.4 million fully driverless operational rides in Q4, with total rides up more than 200% year-over-year, and the service is expanding to 26 cities worldwide [14] - Baidu plans to pilot autonomous vehicles in London with Uber and Lyft, and is testing in various international locations including Switzerland and South Korea [15] Financial Performance - For full-year 2025, Baidu reported total revenues of CNY 129.1 billion, with an operating loss of CNY 5.8 billion, which included significant impairment losses [19][20] - Operating cash flow turned positive in Q3 and remained positive in Q4, totaling CNY 3.9 billion across the two quarters [21] Investment and Shareholder Returns - Baidu announced a new $5 billion share repurchase program and adopted a dividend policy for the first time, aimed at strengthening shareholder returns [18] - The company has invested over CNY 100 billion in AI since launching ERNIE in March 2023 and plans to maintain this investment level [22]

Weak advertising spending dragged down the Chinese search-engine provider's profit and revenue. ...

新京报贝壳财经讯(记者罗亦丹)2月26日，百度地图文心AI副驾公布了春节假期的运营成绩单：互动服 务总量突破上亿次，日活跃用户环比暴涨54倍，岳云鹏AI副驾成为春节期间最热IP，累计陪伴超800万 用户出行。 具体来看，文心AI副驾中，知识咨询类互动占比超六成，印证了出行场景下用户对百科知识、实时资 讯和生活常识的强信息获取需求；而娱乐创意、情感支持、社交寒暄及深度思辨类互动合计占比超三 成，凸显了用户对AI副驾从"精准导航工具"到"人格化出行伙伴"的体验升级诉求。 百度方面表示，不同于以往导航"你问我答、被动响应"的刻板模式，依托文心大模型的强大能力，这款 AI副驾实现了自然对话、知识问答、情感陪伴和场景化服务的一站式体验，把"工具"变成了有温度 的"伙伴"。 ...