平头哥，将拆分上市？

Core Viewpoint - Alibaba is preparing to spin off its semiconductor manufacturing division, Pingtouge, for an initial public offering (IPO), which has led to a 4.6% increase in its stock price in pre-market trading [1]. Group 1: Company Developments - The restructuring of Pingtouge will involve creating a partially employee-owned entity before considering an IPO, although the timeline for this process remains unclear [1]. - Pingtouge, established in 2018, is a wholly-owned semiconductor division of Alibaba Group, focusing on a range of processors from data center and AI chips to IoT products, covering the entire chip design stack [1]. Group 2: Competitive Landscape - In November, Alibaba made significant upgrades to its AI chatbot, launching a consumer-facing application based on its advanced Qwen large language model, aiming to close the gap with domestic competitors in the AI race [1].