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Baidu's stock dropped $2.4B after its founder skipped a key meeting with China’s president.
Baidu's shares fell by 7% on Monday, erasing $2.4 billion in market value, following the absence of its founder, Robin Li, from a key meeting with Chinese President Xi Jinping.
The meeting, attended by other tech leaders like Alibaba's Jack Ma, sparked concerns about Baidu's standing.
Despite recent advancements in AI, Baidu faces challenges with declining ad revenue and uncertain growth in its cloud division.
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Las acciones de Baidu bajaron $2.4B después de que su fundador se saltó una reunión clave con el presidente de China.