Baidu reported a 3% annual decline in third-quarter revenue but exceeded market expectations due to growth in its AI cloud business. The Beijing-based tech giant operates a major search engine and maps app in China, sells cloud computing services, and generates significant revenue from online marketing. Baidu's AI cloud growth offset weaknesses in online marketing. CEO Robin Li emphasized growing market recognition of Baidu's AI capabilities, highlighted by the increasing adoption of the Ernie generative AI model and chatbot.