AI Cloud Subscriptions Surge 143% to RMB5.8 B in Q4 as EPS Beats, Chip Spin-Off
Baidu’s Q4 revenue reached RMB32.7 billion, matching forecasts, while adjusted EPS of RMB10.62 outpaced the RMB9.65 estimate; AI Cloud Infrastructure subscription revenue surged 143% YoY to RMB5.8 billion, lifting its AI-powered segment to over RMB11 billion (43% of core business). The company recorded 3.4 million fully driverless rides in Q4 (+200% YoY) and announced a spin-off of its Kunlunxing AI chip unit after AI accelerator infrastructure performance validated sustained value creation.
1. Q4 Financial Results
Baidu posted Q4 revenue of RMB32.7 billion and adjusted EPS of RMB10.62, exceeding estimates by 10%. Adjusted operating income reached RMB3.0 billion (9% margin) while adjusted EBITDA was RMB4.7 billion (14%), despite a 6% drop in ADR share price intra-day.
2. AI Cloud Infrastructure and Applications
Subscription revenue tied to AI accelerator infrastructure jumped 143% YoY to RMB5.8 billion, driving AI-powered business revenue above RMB11 billion or 43% of Baidu General Business. For full-year 2025, AI Cloud Infrastructure sales grew 34% to RMB20 billion and AI applications revenue surpassed RMB10 billion.
3. Autonomous Rides and AI Chip Spin-Off
Apollo Go delivered 3.4 million fully driverless operational rides in Q4, up over 200% YoY, and exceeded 10 million rides for 2025. Baidu announced plans to spin off its Kunlunxing AI chip unit, leveraging a decade of in-house chip development and large-scale deployments to unlock value creation.