0309 GMT - Baidu may benefit from the solid performance of its artificial intelligence and chip business, according to Nomura analysts in a research note. AI infrastructure revenue likely rose strongly by 60% on year in 1Q on the back of the robust performance of its chip business Kunlunxin, they note. That may offset some headwinds from its weak advertising business. The analysts also see the upcoming initial public listing plans of its chip unit as a near-term catalyst for Baidu's stock. They maintain a buy rating, with a target price of US$186.00 of its ADRs, which last traded at US$125.03. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

April 16, 2026 23:09 ET (03:09 GMT)

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