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Baidu's stock fell approximately 5% following its second-quarter results, which showed a mixed performance. Non-GAAP earnings per ADS decreased by 7% year-over-year, while total revenue remained flat, missing analysts' expectations. Despite these challenges, revenue from Baidu Core saw a slight increase, driven by growth in the AI Cloud sector.
The company is undergoing a significant transition in its AI search strategy, which is expected to yield long-term benefits despite current monetization hurdles. Baidu's expansion of its Ernie family of large language models and the growth of its developer community indicate a strong commitment to AI innovation. However, the competitive landscape in China's digital advertising market poses ongoing challenges for Baidu's online marketing revenue.
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Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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