August 21, 2025 12:15 AM GMT AI Cloud: Cloud growth remains solid in 2Q, rev reaching Rmb6.5bn, +27% YoY. Enterprise cloud growth continued to outpace personal cloud, with subscription revenue grew over 50% YoY. (est. >50% enterprise cloud rev mix). With improving cloud mix, we expect cloud margins maintained at teens in 2Q. We expect Baidu cloud growth to continue outpace industry, est 3Q +30% YoY. According to local news (IThome, 7 Aug 2025), Ernie 5.0 is expected to launch in the coming months. Baidu and ...