Baidu's latest financial report: Revenue of 129.1 billion yuan in 2025, with AI business revenue accounting for 43% in the fourth quarter

On February 26, Baidu released its Q4 and full-year 2025 financial reports. The total revenue for 2025 reached 129.1 billion yuan, with AI business revenue hitting 40 billion yuan; in the fourth quarter, Baidu’s total revenue was 32.7 billion yuan, with AI business accounting for 43% of Baidu’s general business revenue, exceeding market expectations.

“2025 is a pivotal year for AI becoming Baidu’s new core. The AI cloud is gaining strong momentum, and we are winning increasing recognition from enterprises through our differentiated end-to-end full-stack AI capabilities. Our AI application portfolio continues to expand, meeting diverse needs of businesses and individuals. Radish Run further consolidates its global leadership by operating at industry-leading scale and accelerating international expansion into new markets. Meanwhile, AI-native marketing services continue to grow, opening new possibilities for long-term development,” said Baidu founder Robin Li. “As our AI-first strategy takes shape clearly, we are confident in our ability to create lasting value in the AI era.”

AI cloud continues to grow, with full-year 2025 revenue increasing by 34% year-over-year. Notably, subscription revenue for high-performance AI computing infrastructure in Q4 grew by 143% year-over-year, further accelerating from 128% in Q3. In 2025, Baidu Intelligent Cloud achieved the top position in both the number of major projects and total contract value related to large models, becoming the cloud vendor with the most awarded projects and highest contract value for two consecutive years.

In AI-native marketing services, full-year revenue in 2025 increased by 301% year-over-year. By December 2025, Baidu App’s monthly active users reached 679 million, and Wenxin Assistant’s monthly active users reached 202 million. Since the launch of the Spring Festival red envelope activity, Wenxin Assistant’s monthly active users increased fourfold year-over-year. In 2025, HuiBoXing digital human broadcasting scale grew by 202%, with revenue increasing by 228%, enabling over 30 industries.

AI applications revenue in 2025 surpassed 10 billion yuan. According to IDC’s “China No-Code Generative Application Development Platform Test Report,” the no-code platform Sekoda demonstrated industry-leading performance in functionality and application quality. During the quarter, Baidu’s self-evolving super intelligent agent, Baidu Famu, received over 2,000 enterprise trial applications and launched the “Tongzhou Ecosystem Partner Program.” Recently, Baidu Wenku and Baidu Cloud have been integrated into the Personal Super Intelligence Business Group (PSIG), further accelerating AI application innovation.

Meanwhile, Radish Run’s global autonomous driving trips in Q4 reached 3.4 million, a year-over-year increase of over 200%, with weekly trip peaks exceeding 300,000. The financial report shows Radish Run is accelerating its expansion into multiple global markets. As of February 2026, Radish Run has provided over 20 million trips worldwide, covering 26 cities globally.

Currently, Radish Run’s total autonomous driving mileage exceeds 300 million kilometers, with over 190 million kilometers of fully autonomous driving.

Recently, Wenxin 5.0 official version was launched. As a native multimodal large model, it has 2.4 trillion parameters, utilizing native multimodal unified modeling technology, supporting input and output of text, images, audio, and video. Previously, Wenxin 5.0 repeatedly topped the LMArena text ranking and visual understanding ranking domestically, surpassing many mainstream models both domestically and internationally. In January 2026, Kunlun Chip submitted an application for listing on the Hong Kong Stock Exchange Main Board.

In ESG, Baidu further improved its performance, as reflected in the global edition of the “S&P Global Sustainability Yearbook 2026.”