On June 29, Baidu rose 5.13% in regular trading, trading at $109.63/share, with turnover of $81.66 million. The rally was driven by reports that Baidu's AI chip subsidiary Kunlunxin is planning a Hong Kong listing at a target valuation of approximately $50 billion — notably exceeding Baidu's own market capitalization.

According to multiple reports, Kunlunxin is requiring prospective IPO investors to commit to purchasing chips worth 3 to 7 times their subscription amount, a move widely interpreted as a strong endorsement of the company's product demand and market outlook. Tencent has reportedly become a customer, though claims that ByteDance was considering adopting Kunlunxin's AI chips were denied by sources close to ByteDance. Kunlunxin originated as Baidu's internal AI chip R&D division before being spun off as an independent entity, with Baidu retaining a controlling stake. The company had previously submitted a listing application to the Hong Kong Stock Exchange earlier this year.

If the spin-off listing succeeds, it could unlock the standalone value of Baidu's chip business and inject fresh capital momentum into its broader AI ecosystem.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)