Stock Track | Baidu Soars 6.06% Intraday as AI Chip Unit Kunlunxin Plans Hong Kong IPO

Stock Track01:50

Baidu's (BIDU) stock surged 6.06% during Friday's intraday trading session, driven by investor optimism after reports revealed its AI chip unit, Kunlunxin, is preparing for an initial public offering (IPO) in Hong Kong. The unit, valued at $2.97 billion, recently completed a funding round and aims to file for the IPO as early as Q1 2026.

The move aligns with China's broader push for domestic semiconductor self-sufficiency amid U.S. export restrictions. Kunlunxin, which develops advanced AI chips like the P800, has expanded its external sales and is expected to break even this year. Analysts view the IPO as a strategic step to unlock value and fund Baidu's ambitions in AI infrastructure, positioning it as a key player in China's tech ecosystem.

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