HHLR Advisors has completely divested its position in Baidu, selling approximately 1.64 million shares valued at $216.23 million in Q4 2025. This move comes as Baidu is transitioning its business model from advertising-funded search to AI infrastructure and enterprise cloud solutions, alongside investments in autonomous driving. The significant exit by HHLR Advisors, which previously held 5.3% of its AUM in Baidu, highlights investor scrutiny over Baidu’s ability to diversify revenue and ensure sustainable growth beyond its core advertising business.
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HHLR Advisors Fully Exits Baidu as AI Push Tests Its Advertising-Funded Model
HHLR Advisors has completely divested its position in Baidu, selling approximately 1.64 million shares valued at $216.23 million in Q4 2025. This move comes as Baidu is transitioning its business model from advertising-funded search to AI infrastructure and enterprise cloud solutions, alongside investments in autonomous driving. The significant exit by HHLR Advisors, which previously held 5.3% of its AUM in Baidu, highlights investor scrutiny over Baidu’s ability to diversify revenue and ensure sustainable growth beyond its core advertising business.