智通财经网·2025-11-25 01:32Core Viewpoint - Baidu is undergoing a fundamental transformation from a traditional search advertising company to an AI infrastructure provider, with significant revenue growth expected from Kunlun chip sales and GPU computing demand [1] Group 1: Stock Performance - Baidu's stock opened nearly 4% higher and is currently up 3.85%, trading at HKD 116.1 with a transaction volume of HKD 100 million [1] Group 2: Revenue Growth Projections - Morgan Stanley forecasts that Baidu's cloud business revenue will grow by 61% by 2026, driven by the demand for Kunlun chips and GPU computing [1] - Revenue from Baidu's Kunlun chips is expected to surge from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, marking a sixfold increase [1] Group 3: Market Validation - The Kunlun project has become a core validation case for large-scale domestic demand, with Baidu disclosing a training cluster of 30,000 P800 chips [1] - The solution has gained external adoption from China Bank and internet companies, confirming its viability for enterprise-level workloads [1]