百度股价大涨6%，公司官宣：分拆芯片业务，独立IPO！昆仑芯最新估值210亿元，机构预测：今年收入将大增6倍

Core Viewpoint - Baidu's subsidiary Kunlun Core has submitted a listing application to the Hong Kong Stock Exchange, aiming for an independent public offering to enhance its operational and financial transparency, attract specialized investors, and improve its market position [1][3]. Group 1: Listing and Financial Impact - Kunlun Core's listing is expected to reflect its value based on its strengths, allowing investors to independently assess its performance and potential [3]. - The company aims to attract investors focused on AI computing chips and related hardware and software systems, differentiating itself from Baidu's diversified business model [3]. - Following the announcement, Baidu's stock surged by 6.92%, with a total market capitalization of HKD 386.7 billion [4]. Group 2: Company Background and Valuation - Kunlun Core, previously Baidu's Intelligent Chip and Architecture Department, completed its first round of independent financing in April 2021, with an initial valuation of approximately RMB 13 billion [5]. - The latest financing round in July 2023 valued Kunlun Core at around RMB 21 billion (approximately USD 2.97 billion), with Baidu holding a 59.45% stake [6]. - Analysts predict that Kunlun Core's revenue will increase from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, a sixfold increase, potentially leading to a valuation exceeding RMB 80 billion [8]. Group 3: Product and Market Position - Kunlun Core's P800 series chips have been deployed in thousands, with a single cluster exceeding 30,000 cards, demonstrating significant market acceptance [8]. - The P800 chip is recognized for its performance and energy efficiency, supporting configurations of 8 and 16 cards, with a maximum throughput of 482 times per second [9]. - IDC data indicates that Kunlun Core's shipment volume is projected to reach 69,000 units in 2024, significantly outpacing competitors like Cambricon [9].