百度昆仑芯狂飙，李彦宏酝酿另一块拼图

瑞财经12-06

文/瑞财经曾树佳李彦宏或许正在酝酿另一块资本拼图了。多位知情人士透露，百度旗下AI芯片公司昆仑芯，正在筹备赴香港上市。近期，它完成了新一轮2.83亿美元的融资后，投后估值达到29.7亿美元，约210亿元人民币。昆仑芯的全称为“昆仑芯（北京）科技有限公司”，其前身为百度智能芯片研发部，于2021年4月完成独立融资，那时候，它首轮估值约130亿元。也就是说，在四年多的时间里，昆仑芯的估值上涨了...

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曾树佳李彦宏或许正在酝酿另一块资本拼图了。多位知情人士透露，百度旗下AI芯片公司昆仑芯，正在筹备赴香港上市。近期，它完成了新一轮2.83亿美元的融资后，投后估值达到29.7亿美元，约210亿元人民币。昆仑芯的全称为“昆仑芯（北京）科技有限公司”，其前身为百度智能芯片研发部，于2021年4月完成独立融资，那时候，它首轮估值约130亿元。也就是说，在四年多的时间里，昆仑芯的估值上涨了61.5%。它冲击上市的时间线为，计划最快2026年第一季度，向香港交易所提交上市申请，不晚于2027年初完成IPO。这家芯片公司有意借助港股第18C章规则，登陆资本市场。这项规则，专为未盈利特专科技公司设计，2025年优化后已降低市值门槛，并推出“科企专线”，接入高研发投入的公司。相关数据披露，昆仑芯2024年营收20亿元，净亏损2亿元；2025年预计营收突破35亿元，有望实现盈亏平衡。而摩根大通更是给出了预测，该公司2026年营收将飙升至83亿元，增幅达6倍。弗若斯特沙利文数据显示，2029年中国AI芯片市场规模将达1.34万亿元，较2024年增长8.4倍。不少人认为，昆仑芯有望成为百度快速增长的业务，并填补英伟达退出中国市场后留下的空白。不久前，百度制定了昆仑AI芯片五年路线图，计划2026年推出M100、2027年推出M300。今年三季度，百度的总收入为312亿元，同比减少了7%，其中，核心收入为247亿元，同比减少7%。在这个季度里，它在线营销收入为153亿元，同比减少18%。在广告业务下滑的情况下，百度加速向AI领域进发。今年的三季报，它首次系统披露了AI相关业务的经营指标。其中，智能云基础设施收入达到42亿元，同比增长33%，AI高性能计算设施收入的订阅收入同比增长128%。而包括百度文库、百度网盘及数字员工等旗舰软件产品的AI应用，收入达到26亿元，同比增长6%。AI原生营销服务，则正成为百度传统业务外的第二个增长曲线，期内收入达到28亿元，同比增长262%。三季度，归属百度的净亏损为112亿元，归属百度核心的净亏损为111亿元，核心的净亏损率为45%。造成亏损的很大一部分原因，是它计提了一笔“长期资产减值”，且高达162亿元。百度CFO何俊杰对此的解释为，公司目前正全力加大对前沿人工智能计算技术的投入，在此过程中，对现有基础设施资产，进行了全面评估。其发现部分资产，已无法满足当前的计算效率要求，因此百度主动计提了资产减值。他声称，此次一次性减值后，公司资产结构将更趋优化，能更好地适配高端人工智能计算需求及高价值应用场景。换言之，李彦宏宁愿当下亏损，也要为未来百度的AI业务铺好路。他或许想尽快撕掉“传统互联网”的标签，借助AI来改变现状。而长期砸钱投入AI的现金流压力，也确实需要上市融资来缓解。与AI狂飙相对应的，是百度组织架构的调整，以及人员的优化。近期，它宣布设立技术研发组织，新设两个研发部门：基础模型研发部、应用模型研发部。据悉，基础模型研发部，负责研发高智能可扩展的通用人工智能大模型，由吴甜负责；应用模型研发部，则负责业务应用场景需要的专精模型调优和探索，由贾磊负责。新设双研发部门的另一边，传出了百度减员的消息。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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