Baidu Group-SW Shares Surge Over 4% as Kunlun Chip Unit Eyes $50 Billion Valuation and AI Transition Deepens

Stock News11:21

Shares of Baidu Group-SW (HKEX: 09888) have surged more than 4% once again. As of the latest update, the stock is up 4.03%, trading at HK$108.5, with a turnover of HK$607 million.

Recent reports indicate that Baidu's AI chip subsidiary, Kunlun Chip, is planning a listing in Hong Kong, targeting a valuation of $50 billion (approximately RMB 339.8 billion). According to information, a source familiar with the matter stated that investors seeking an allocation of shares must first purchase Kunlun's chips. The source added that demand for Kunlun Chip is currently high, both for chip procurement and share subscriptions, with Tencent also being a client of the company.

In a recent research report, Bank of Communications International noted that Baidu's AI transformation has accelerated and deepened since 2025. In the first quarter of 2026, AI-related new businesses accounted for 52% of Baidu's core business, yet the market may not have fully repriced the company's valuation to reflect the growth of these new AI ventures. The report is optimistic that Baidu could reach an inflection point for profitability in the second half of 2026, with the proportion of AI new business continuing to increase from 2026 to 2028.

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