百度突然飙升近8%，210亿估值芯片子公司或赴港IPO，年营收超摩尔线程

Core Viewpoint - Baidu's stock surged over 5% following news of its semiconductor subsidiary Kunlun Chip planning an IPO in Hong Kong, reflecting strong market interest in AI chip technology [1][3]. Group 1: Company Developments - Kunlun Chip recently raised $283 million, achieving a valuation of $2.97 billion (approximately 21 billion RMB) [3]. - Baidu holds a 59.45% stake in Kunlun Chip, which was incubated internally and completed its first round of independent financing in April 2021 with an initial valuation of around 13 billion RMB [3]. - The company is expected to generate over 1 billion RMB in revenue in 2024, surpassing other AI chip companies that have either filed for or completed IPOs [8]. Group 2: Market Performance - The Hong Kong stock market saw a rally in computing hardware stocks, with Baidu's shares rising nearly 8% at one point, closing at 121.6 HKD per share, giving it a market capitalization of 334.4 billion HKD [1][3]. - Other companies in the sector, such as InnoTek and Lenovo, also experienced significant stock price increases, indicating a broader positive sentiment in the AI hardware market [3]. Group 3: Future Projections - Morgan Stanley predicts that Kunlun Chip's revenue will increase from approximately 1.3 billion RMB in 2025 to 8.3 billion RMB in 2026, marking a sixfold growth [8]. - The new generation of Kunlun chips, including the M100 and M300 models, is set to be launched in 2026 and 2027, respectively, targeting large-scale inference and multimodal model training [8]. - Baidu's AI infrastructure, supported by Kunlun Chip and its cloud computing platform, is positioned to enhance AI capabilities across various industries, providing scalable and cost-effective solutions [9].