智通财经网·2025-12-08 01:28Group 1 - Baidu Group's stock opened over 3% higher, currently up 3.29% at HKD 125.6, with a trading volume of HKD 200 million [1] - On December 7, Baidu announced it is evaluating a potential spin-off and independent listing of its non-wholly owned subsidiary Kunlun Chip (Beijing) Technology Co., Ltd. [1] - The proposed spin-off and listing will require regulatory approval, and there is no guarantee that it will proceed [1] Group 2 - JPMorgan believes Baidu's investment narrative is undergoing a fundamental shift from a traditional search advertising company to an AI infrastructure provider [1] - The demand for Kunlun chip sales and GPU computing is expected to significantly boost revenue growth, with projected revenue from Kunlun chips increasing from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, representing a sixfold increase [1]