Advertisers now have two choices:
1. set a specific end date when their campaign will stop running, or2. select 'no end date' to have their campaign run indefinitely.
Campaigns set to 'no end date' don't have to run forever -- they simply run until the advertiser decides to pause or delete the campaign manually, or resets the campaign to a specific end date. You can make those changes at any time.
If you want to create a campaign and let it run until you decide to make changes, 'no end date' is a good choice.
The Google AdWords Help Center confirms that advertisers can now either set an end date for their ads or let their ads run indefinitely.
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