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Baidu Star's Shock Exit Casts AI-First Ambitions in Doubt
- Microsoft vet Qi Lu spearheaded projects like Apollo, DuerOS
- Investors now question if Baidu can sustain a revival
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The departure of Baidu Inc.’s most senior operational executive threatens to derail the Chinese search giant’s ambition of placing artificial intelligence at the heart of its business.
On Friday, the company stunned investors with the revelation that Microsoft Corp. veteran Qi Lu -- hired just over a year ago to accelerate its drive into everything from autonomous cars to digital assistants -- was stepping down because he could no longer work full-time in China for personal reasons. His departure triggered a 9.5 percent plummet in Baidu’s share price, the biggest fall in almost three years, on fears its revival had been cut short. Credit Suisse Group AG became among the first to raise a warning flag when it downgraded the stock.