助力苹果推进国行AppleIntelligence，百度拥抱AI发展新机遇

Investment Rating - The industry investment rating is "Overweight" [4][7] Core Insights - Apple is accelerating the launch of Apple Intelligence in China, targeting a year-end release, with AI features positioned as a core selling point for the iPhone 17 [1] - Baidu's Kunlun chip has achieved significant performance advancements, securing a major order from China Mobile for AI server products, with a total order scale reaching billions [2] - Baidu's autonomous driving service, "萝卜快跑," has expanded globally, achieving over 2.2 million service instances in Q2 2025, marking a 148% year-on-year growth [3] Summary by Sections Apple Intelligence Launch - Apple is collaborating with Alibaba and Baidu to launch Apple Intelligence in China by the end of the year, with internal testing already underway [1] - The AI functionality is expected to be integrated into iOS 26.1 or 26.2, although there are risks of delays [1] Baidu Kunlun Chip - The Kunlun chip has reached its third generation and is leading in performance within China's AI chip sector [2] - Baidu's AI servers based on Kunlun chips won 70% and 100% of the shares in multiple bidding packages for China Mobile's AI computing project, amounting to a significant order value [2] Autonomous Driving Expansion - Baidu's "萝卜快跑" service has entered the global market, with plans to deploy 1,000 autonomous vehicles in Dubai and Abu Dhabi [3] - Collaborations with Uber and Lyft are set to expand the service to Asia and Europe, with a total of over 14 million global service instances recorded [3]