Baidu’s Hong Kong-listed shares rose over 5%. Its U.S. stock closed up 5.55%. The gains mark three consecutive days of growth for the company.
The intelligent cloud division led the industry in the number and total value of bids won during the first quarter. Baidu’s total bid amount reached nearly five times that of its closest competitor.
JPMorgan reiterated an Overweight rating for the company. The firm projects a 28% increase in overall cloud revenue. Analysts expect an 85% rise in AI cloud infrastructure revenue despite anticipated weakness in advertising.
Barclays included Baidu in its list of most worthwhile data center operator stocks to hold. The bank emphasized the company's long-term value within the AI infrastructure sector.