China tech slowdown: Baidu quarterly revenue dips on weak consumer demand; AI bets, robotaxi push offer growth hope
Chinese internet major Baidu reported a fall in quarterly revenue on Wednesday, hit by sluggish domestic consumption even as the company ramped up its artificial intelligence drive and overseas robotaxi ambitions.Baidu posted revenue of 32.7 billion yuan ($4.56 billion) in the April-June quarter, a 4% year-on-year decline, according to its filing with the Hong Kong…