Movement Alert｜Baidu Group-SW Rises 3.32% in Regular Trading, Kunlun Chip IPO Valuation Rerating Expectations Continue to Heat Up

Market Focus

Jul 10

On July 10, Baidu Group-SW rose 3.32% in regular trading, trading at 117.7 HKD/share, with turnover of HKD 153 million.

On the news front, Baidu's AI chip subsidiary Kunlun Chip is pushing forward its Hong Kong IPO with a target valuation of approximately $50 billion, already exceeding parent company Baidu's current market capitalization. Goldman Sachs expects Baidu's AI-driven business to grow over 30% year-over-year, with AI cloud infrastructure growth exceeding 50%. Additionally, Macquarie recently raised Baidu's target price to HKD 181, maintaining an Outperform rating. The broker projects Kunlun Chip's FY2026 revenue to more than double year-over-year to approximately RMB 8.5 billion with steadily expanding margins, assigning a valuation of roughly $48 billion. Baidu's 59% stake corresponds to an equity value of $82.5 per share, with the IPO expected to unlock significant value. Market expectations for Baidu's AI transformation and Kunlun Chip spin-off valuation rerating continue to intensify.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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