Baidu Group-SW's stock surged 5.02% during intraday trading on Friday, extending gains from the pre-market session.

The movement follows positive momentum from its US-listed shares and comes after multiple investment banks maintained buy ratings and raised price targets on the company following its Q1 earnings release. While net profit saw a year-over-year decline, the company's AI business revenue surged 49% to 13.6 billion yuan, surpassing 50% of total revenue for the first time—a key milestone that has gained institutional recognition for Baidu's transformation progress.

Further supporting the positive sentiment, Baidu recently signed a strategic cooperation agreement with Shanghai Pudong Development Bank to deepen collaboration in areas including cash management and AI empowerment, expanding AI-driven financial application scenarios. The market appears to be refocusing on Baidu's AI growth trajectory after digesting short-term earnings pressure.