Google releases next-generation Gemini 3 model
On Tuesday local time, Google launched its next-generation large model, Gemini 3, with enhanced capabilities in multimodal reasoning, code writing and content generation. Its pro version supports an ultra-long context input of 1 million tokens and an output of 64,000 tokens. Gemini 3 will be integrated into the Gemini app, Google’s AI search products and its enterprise-level products. The model will be available to select subscribers starting Tuesday and will be rolled out more broadly in the coming weeks.
Xiaomi’s EV and AI businesses post first quarterly profit
Xiaomi Corp. reported its first-ever quarterly profit from its electric vehicle (EV) and artificial intelligence (AI) businesses, marking a milestone in the tech giant’s diversification strategy, though the achievement was overshadowed by the mounting pressure on its mainstay smartphone business. The company’s EV, AI and other new initiatives segment posted an operating profit of 700 million yuan ($98 million) in the third quarter, reversing a loss of 500 million yuan a year ago, according to its latest earnings report released Tuesday.
Release of Japanese films in China postponed
China has delayed the release of several Japanese films, attributing the decision to subdued market performance and shifting audience sentiment, as political tensions rise between Beijing and Tokyo following remarks by Prime Minister Sanae Takaichi concerning Taiwan.
PDD’s revenue growth picks up slightly to 9%
PDD Holdings Inc.’s revenue growth edged up to 9% in the third quarter after slowing for five consecutive quarters. The company reported revenue of 108.3 billion yuan for the quarter, slightly beating market expectations, according to its earnings report released on Tuesday. PDD’s revenue growth had been slowing since the second quarter of 2024, with growth rates of 44%, 24%, 10% and 7% from the third quarter of 2024 to the second quarter of 2025, respectively.
iQiyi swings to third-quarter loss as revenue declines
iQiyi Inc. reported a third-quarter revenue of 6.7 billion yuan, down 8% year-on-year, according to its earnings report released Tuesday. The rate of decline narrowed compared with the previous two quarters. The company posted a non-GAAP net loss attributable to the company of nearly 150 million yuan, swinging from a profit a year earlier.
Baidu’s revenue falls, but AI business grows over 50%
Baidu Inc. on Tuesday reported third-quarter revenue of 31.2 billion yuan, a 7% decrease year-on-year. Its non-GAAP net profit fell 36% to 3.8 billion yuan. For the first time, Baidu disclosed the performance of its new AI business segment, which generated nearly 10 billion yuan in revenue, a year-on-year increase of over 50%.
Trip.com third-quarter revenue up 16% on travel peak
Trip.com Group Ltd. reported a sharp rise in third-quarter earnings on Tuesday, as a resurgence in cross-border travel and a sizable one-time investment gain propelled profit well above revenue. For the three months ended Sept. 30, the online travel platform posted net revenue of 18.3 billion yuan, a 16% increase from a year earlier and a 24% rise from the previous quarter. The rebound was driven by summer holiday demand, the company said in its earnings release.
