Baidu’s AI cloud soars — but the risks are stacking up

China’s biggest AI player, Baidu (BIDU), beat expectations with a surge in cloud revenue, but its ad business is shrinking, it’s slashing AI prices to stay ahead of local rivals, and fresh U.S. chip export issues could cut its momentum short.

So what’s the big picture? A blowout quarter – and a warning label

In Q1 earnings posted Wednesday, Baidu reported that its AI Cloud revenue jumped 42% year-over-year, and in…