针对近日关于百度旗下AI芯片公司昆仑芯正在筹备分拆赴香港独立IPO上市的传闻，百度于12月7日发 布公告进行了回应。 受此消息影响，12月5日港股收盘时，百度港股大涨5.01%，最新股价定格在121.60港元。 百度表示，本公司注意到，于2025年12月5日有媒体报道本公司拟分拆非全资附属公司昆仑芯（北京） 科技有限公司进行独立上市（「拟议分拆及上市」）。本公司谨此澄清，目前正就拟议分拆及上市进行 评估。倘进行拟议分拆及上市，将须经相关监管审批程序，而本公司并不保证拟议分拆及上市将会进 行。 摩根士丹利此前发布的研究报告称，百度自研的AI芯片收入将从今年的13亿元暴涨到明年的83亿元， 增长6倍之多，带动百度的GPU计算收入在2026年翻倍。 大摩还上调了百度的目标股价到188美元，看好百度的理由就是其转型AI的速度和规模都被低估了，明 年就会有一波爆发。 目前，百度也已经明确转向AI优先的业务模式，其AI云业务已经占到百度核心业务收入的1/4左右，成 为主要的增长引擎。 此前报道： 近日，有接近百度昆仑芯投资人向媒体透露，百度旗下昆仑芯原本曾准备筹备在科创板上市，但在与多 家券商进行沟通后，其上市方向发生转 ...

Core Viewpoint - Baidu Group's semiconductor subsidiary Kunlun Chip plans to go public in Hong Kong, with recent financing of $283 million and a valuation of $2.97 billion, indicating a significant shift in Baidu's business model from a traditional search advertising company to an AI infrastructure provider [1] Group 1: Stock Performance - Baidu's stock surged over 7% in the afternoon, closing up 4.49% at HKD 120.9, with a trading volume of HKD 1.648 billion [1] Group 2: Kunlun Chip Developments - Kunlun Chip, formerly Baidu's Intelligent Chip and Architecture Department, completed independent financing in April 2021 and recently launched two new AI chips, Kunlun Chip M100 and M300, along with two new ultra-node products [1] - The company also announced a five-year roadmap for Kunlun Chip's future development [1] Group 3: Market Outlook - JPMorgan believes Baidu's investment narrative is fundamentally changing, with expectations that sales of Kunlun chips and GPU computing demand will significantly boost revenue growth [1] - Revenue from Kunlun chips is projected to increase from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, representing a sixfold increase [1]

来源：猎云网 今日，据外媒消息，昆仑芯已启动在香港上市的筹备工作，并计划最早于2026年一季度向港交所递交上市申请，目标是在2027年初完成IPO。 摩根大通预计，百度昆仑芯片收入将从2025年的约人民币13亿元飙升至2026年的83亿元，增幅达到6倍。 消息传出后，百度港股盘中直线拉升，一度涨近7.51%。截至13：49，百度股价为121.7港元/股，市值3347亿港元。 百度集团–SW[09888]港股实时行情 – 百度股市通 | 港股 | | | | | 美股 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 121.700 .. +5.900 +5.09% | | | | | | | 港币柜台v | | ○ 交易中 12-05 13:49:00 北京时间 | | | | | | | | | 今开 | 115.800 | | 最高 | 124.800 | | 成交量 | 1439万股 | | 昨收 | 115.800 | | ■ぼ | 115.100 | | 成交额 | 17.35亿 | | 换手率 | 0.52% | | 市盈(TTM) ...

Core Viewpoint - Baidu Group's semiconductor subsidiary Kunlun Chip plans to go public in Hong Kong, with recent financing of $283 million and a valuation of $2.97 billion, indicating a significant shift in the company's business model from a traditional search advertising company to an AI infrastructure provider [1] Group 1: Company Developments - Baidu's stock surged over 7% in the afternoon trading session, closing up 4.49% at HKD 120.9, with a trading volume of HKD 1.648 billion [1] - Kunlun Chip, previously part of Baidu's Intelligent Chip and Architecture Department, completed independent financing in April 2021 [1] - On November 13, Baidu launched two new AI chips, Kunlun Chip M100 and M300, along with two new ultra-node products, Baidu Tianchi 256 and 512, and announced a five-year roadmap for Kunlun Chip [1] Group 2: Market Analysis - JPMorgan believes Baidu's investment narrative is undergoing a fundamental transformation, with expectations that sales of Kunlun chips and GPU computing demand will significantly boost revenue growth [1] - Revenue from Kunlun chips is projected to increase from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, representing a sixfold increase [1]

Core Viewpoint - Baidu's semiconductor subsidiary Kunlun Chip plans to go public in Hong Kong, which has led to a significant increase in Baidu's stock price, reflecting a fundamental shift in the company's investment narrative from a traditional search advertising company to an AI infrastructure provider [1] Group 1: Stock Performance - Baidu's stock surged over 7% in the afternoon session, currently up 4.49% at HKD 120.9, with a trading volume of HKD 1.648 billion [1] Group 2: Kunlun Chip Developments - Kunlun Chip recently raised USD 283 million, achieving a valuation of USD 2.97 billion [1] - The company was previously known as Baidu's Intelligent Chip and Architecture Department and became independent in April 2021 [1] - On November 13, Baidu launched two new AI chips, Kunlun Chip M100 and M300, along with two new ultra-node products, Baidu Tianchi 256 and 512, and announced a five-year roadmap for Kunlun Chip [1] Group 3: Market Outlook - JPMorgan believes that Baidu's revenue growth will significantly increase due to the sales of Kunlun chips and GPU computing demand [1] - Revenue from Kunlun chips is projected to rise from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, representing a sixfold increase [1]

Core Viewpoint - Baidu Group's stock has seen an increase of over 3%, currently trading at 129.4 HKD with a transaction volume of 1.07 billion HKD, following the announcement of significant AI advancements at the 2025 Baidu World Conference on November 13 [1] Group 1: AI Developments - Baidu showcased multiple AI achievements, including the release of the Wenxin large model 5.0 and the global ride-hailing service "Luo Bo Kuai Pao" surpassing 17 million service instances [1] - The company introduced new AI chips, Kunlun Chip M100 and M300, along with two new super nodes, Baidu Tianchi 256 and Baidu Tianchi 512, and outlined a five-year roadmap for Kunlun chips [1] Group 2: Product Upgrades and International Expansion - The GenFlow platform has been upgraded to version 3.0, and various products such as Luo Bo Kuai Pao, Huibo Star digital human, Miaoda, and GenFlow are accelerating their international expansion [1] - Baidu plans to launch the M100 chip in early 2026, designed for large-scale inference scenarios, and the M300 chip in early 2027, aimed at training and inference needs for ultra-large multimodal models [1]

智通财经APP获悉，百度集团-SW(09888)现涨超3%，截至发稿，涨2.45%，报129.4港元，成交额10.7亿 港元。 值得注意的是，百度发布两款全新AI芯片昆仑芯M100和昆仑芯M300，以及两款全新超节点百度天池 256超节点与百度天池512超节点，并公布昆仑芯未来五年路线图。据悉，百度计划2026年初上市M100 芯片，针对大规模推理场景优化设计；2027年初上市M300芯片，面向超大规模多模态模型的训练和推 理需求。 消息面上，11月13日举办的2025百度世界大会上，百度诸多AI成果集中亮相：发布文心大模型5.0，萝 卜快跑全球出行服务次数超1700万，发布新一代昆仑芯和超节点产品天池，GenFlow升级至3.0。此外， 萝卜快跑、慧播星数字人、秒哒、GenFlow等一系列产品，正加速出海。 ...

Core Insights - Baidu's Tianchi 256 super node is set to launch in the first half of 2026, while the Tianchi 512 super node will be released in the second half of 2026 [1][3]. Group 1 - The Tianchi 512 super node will support 512 cards for ultra-fast interconnection, doubling the total bandwidth for card interconnection [3]. - A single node of the Tianchi 512 super node can complete the training of trillion-parameter models [3].

Core Insights - Baidu announced the launch of the next-generation Kunlun chips M100 and M300, along with the new Tianchi 256 and 512 super nodes at the 2025 Baidu World Conference [1] Group 1: Product Launch - The Kunlun chips M100 and M300 are set to be released in early 2026 [1] - The Tianchi 256 super node card features a fourfold increase in interconnect bandwidth and a 3.5 times improvement in token throughput for mainstream large model inference tasks [1] - The Tianchi 512 super node supports up to 512 cards for high-speed interconnect, with a 100% increase in interconnect bandwidth, enabling trillion-parameter model training on a single node [1]