Baidu says the quiet part out loud – you can’t build AI infrastructure, so clouds can cash in

Chinese web giant Baidu has told investors its rare ability to build and operate AI infrastructure at scale represents a new high-margin business that its customers can’t avoid. Speaking on the company’s Q1 2026 earnings call, CEO, chairman and co-founder Yanhong Li said GPU cloud revenue increased by 184 percent year-over-year which represented “growth well above the broader market.” CFO Haijian He said that Baidu’s GPU cloud “is structurally higher margin than traditional CPU cloud, driven by