The market value of Baidu decreases by 2.4 billion dollars after the absence of the CEO from the decisive meeting led by Chinese President Xi – Alibaba Gr Hldgs (Nyse: Baba), Baidu (Nasdaq: Bidu)

On Monday, the shares listed in Hong Kong from Bido Bidu It took 7 %, spent $ 2.4 billion in the company’s market value. This sharp decline came in the wake of the noticeable absence of the company’s founder from a pivotal meeting with the president Xi Jinping.

What happened: The eleventh president had invited a meeting in Beijing with senior Chinese business leaders, including Ali Baba Pope founder Jack Ma Whale Ren Chengvy. However, Reuters reported that the founder of Bido, Robin LeeHe was not present at the meeting. The meeting with Xi was considered a sign of government support for the technology sector in China amid years of organizational audit and uninterrupted American relations.

Meanwhile, BAIDU announced on Sunday, its plans to integrate both Deepseek and its large language models (LLMS) in the search engine to provide a more diverse search experience after its competitor. Tinetnet Tcehy Announcement that they will integrate the deep form of research in WeChat.

See also: Xi Jinping and Jack’s meeting is the next “clear message” to support Beijing, the stocks rise in Hong Kong before the profits

Why do it matter: Last week, BAIDU shares rose about 12 %, supported by exciting China’s developments in artificial intelligence and the previous launch of Dibsic R1. After grabbing the moment, the company revealed an upgrade version of the BOT Ernie AI and revealed plans for an artificial intelligence models. The last losses are greatly attributed to the profits after the gathering moved by artificial intelligence. The company is scheduled to make its fourth profits in the fourth quarter on February 18.

However, the absence of Li has speculated about the effect of Baido on the market. The company was struggling with the decrease in advertising revenues, while its cloud section has seen limited growth despite the expansion of its offers of artificial intelligence over the past two years.

The performance of the last stock market in Baidu comes amid a broader context of the company’s efforts to maintain competition in the artificial intelligence market. Baidu is preparing to launch the next generation AI, Ernie 5.0, later this year to compete with new interior such as Deepseek.

Moreover, BAIDU CEO stressed the importance of continuing investment in artificial intelligence, despite the effectiveness of the cost of artificial intelligence models such as Deepseek. At the Global Government Summit in Dubai, Robin has highlighted the need for further investment to develop more intelligent models.

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Disintegration: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Beenzinga editors.