不止昆仑芯，李彦宏最该放权的还有萝卜快跑

Group 1 - Baidu's AI chip subsidiary, Kunlun Chip Technology Co., Ltd., has submitted a listing application to the Hong Kong Stock Exchange, aiming for an IPO [1] - Following the announcement, Baidu's stock price surged by 9.35%, reflecting market excitement over the potential of Kunlun Chip as a significant player in the domestic chip market [2] - There is speculation about whether Baidu's autonomous driving service, "Luobo Kuaipao," will also pursue an independent listing, given its growing recognition and market valuation [4] Group 2 - The potential split of Baidu's businesses, including Kunlun Chip and Luobo Kuaipao, is seen as a strategy for value realization, allowing for better market valuation and risk management [5][12] - Baidu's core advertising business is estimated to have a conservative valuation of $114 billion, while its AI cloud business could be valued at approximately $259 billion [6][9] - The autonomous driving segment, represented by Luobo Kuaipao, is projected to generate around $2.8 billion in revenue by 2025, with a potential valuation of $70 billion based on market comparisons [6][7] Group 3 - Historical examples of successful business splits within Baidu, such as the financial services group "Duxiaoman," demonstrate the benefits of independent operations [13] - The challenges faced by Baidu's various segments, including the need to overcome "big company syndrome," highlight the potential advantages of splitting into independent entities [16][18] - The competitive landscape for autonomous driving services is intensifying, with the need for Luobo Kuaipao to establish its own identity and operational independence to attract talent and investment [20][24]