On May 11, Lyon released a report indicating that Baidu's core business revenue for the first quarter is expected to decrease by 2.5% year-on-year to 24.8 billion yuan, primarily due to a more than 20% drop in marketing revenue. According to Jin10, AI-related business revenue is projected to grow by 39% to 12.4 billion yuan, accounting for 50% of BGB revenue. AI cloud infrastructure has emerged as a new growth engine, benefiting from a surge in inference workloads, with revenue increasing by over 40% year-on-year. Management anticipates that BGB's total revenue will grow by 1.8% year-on-year in the second quarter, with profit margins continuing to improve sequentially. Baidu's Kunlun chip spin-off plan is progressing smoothly, and the company plans to enhance shareholder returns through share buybacks and dividends. Lyon expects Baidu's BGB marketing revenue to decline by 21% year-on-year in the first quarter, a larger drop compared to the 16% decrease in the fourth quarter of 2025. This is mainly due to the late Lunar New Year affecting seasonal performance and increasing competition in the AI advertising sector. However, AI-native marketing business has performed well, with revenue expected to grow significantly by 65% year-on-year to 2.8 billion yuan, representing 22% of BGB's total marketing revenue. Lyon maintains an 'outperform' rating for Baidu, with a target price of $176.

South Korean police have announced plans to intensify their crackdown on Tether laundromats, which are reportedly used by criminal organizations to launder funds using USDT. According to NS3.AI, Park Seong-ju stated that the Korean National Police Agency will enhance virtual asset investigation training in collaboration with the Financial Intelligence Unit and other related agencies.

Real Vision CEO Raoul Pal has indicated an increasing likelihood of an investment market supercycle. According to NS3.AI, Pal attributes this potential development to several factors, including elevated U.S. interest costs, a growing proportion of short-term government bonds, and potential liquidity expansion driven by banks. He emphasized that inflation remains a crucial factor, noting that a supercycle would necessitate slower service inflation resulting from productivity improvements to counterbalance the rising inflation in goods.

Orderly Network initiated a community governance vote on May 4 to decide whether to discontinue support for six blockchains that have shown minimal trading activity over the past 90 days. According to NS3.AI, the voting period ends today, May 11, and each blockchain in question requires at least 10% of the total votes cast to maintain support.

Overseas investors are entering the U.S. stock market at a record pace, according to Odaily. Cointelegraph reported on the X platform that the proportion of stocks held by these investors has reached 63%. This figure has doubled since the financial crisis of 2008 and has surpassed the peak levels seen during the internet bubble era.

Japanese government bond yields have continued their upward trend, with the 30-year bond yield reaching 3.760%. According to Odaily, this marks a significant increase in the long-term bond market.

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