Daily Tech Roundup: Baidu’s Profit Halves as AI Spending Erodes Bottom Line

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A 3D avatar is on display at the Baidu World conference in Beijing on Oct. 17, 2023. Photo: VCG

Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.

Baidu’s profit halves after AI spending erodes bottom line

Baidu Inc.’s profit plunged a worse-than-anticipated 48% in the last quarter, underscoring the growing costs of training and developing AI to fend off challengers in the burgeoning arena.

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