On July 8, Baidu rose 5.5% in regular trading, trading at $117.845/share, with turnover of $56.5629 million.

On the news front, Macquarie recently issued a research note raising Baidu's target price from HK$169 to HK$181, maintaining an \"Outperform\" rating. The core thesis centers on the upcoming IPO of Baidu's AI chip subsidiary Kunlun Xin, which is expected to unlock significant value. Macquarie projects Kunlun Xin's FY2026 revenue to more than double year-over-year to approximately RMB 8.5 billion, with steadily expanding margins, assigning the subsidiary a valuation of approximately $48 billion. Baidu's 59% stake corresponds to roughly $82.5 per share in equity value. Reports indicate Kunlun Xin plans to list in Hong Kong with a target valuation of approximately $50 billion, substantially exceeding Baidu's current market capitalization of $35.5–38 billion. Additionally, nine investment banks have issued \"Buy\" ratings on Baidu over the past 90 days, with an average target price of HK$171.03.

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