HK Stock Market Move | BIDU-SW(09888) rose more than 5% during trading hours, market focus shifts to revaluation of AI assets.

BIDU-SW (09888) rose more than 5% during trading hours, and at the time of writing, it was up 3.54%, trading at 125.7 Hong Kong dollars with a turnover of 1.144 billion Hong Kong dollars. On the news front, a recent research report from Pu Yin International pointed out that with the continuous increase in the proportion of AI-driven business income, the market focus is gradually shifting from the traditional advertising recovery to the revaluation of AI assets. The bank believes that the steady progress of Kunlun chip spin-off listing, shareholder return plans, major listings in Hong Kong, and the global expansion of autonomous driving business will be the core catalysts supporting the company's valuation recovery and long-term value reassessment. The bank expects the company's 1Q26 cloud business to achieve rapid growth, especially as AI cloud infrastructure becomes the core growth engine, with revenue expected to grow by over 40% year-on-year, mainly due to the surge in AI demand and price increases driven by tight computing power supply. Furthermore, on April 24, the preview version of DeepSeek-V4 was officially launched and open-sourced simultaneously. The model has a million-word super-long context, leading in agent capability, world knowledge, and reasoning performance in both domestic and open-source fields, and is divided into two versions based on size: Deepseek-V4-Pro and DeepSeek-V4-Flash. According to Baidu Intelligent Cloud, Baidu Thousand Sails Day0 adaptation provides DeepSeek-V4 preview version API services, pricing externally consistent with DeepSeek's official pricing.