On July 8, Baidu rose 7.4% in pre-market trading, trading at approximately $119.66/share, with turnover of $1.209 million.

On the news front, Macquarie released 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 Chip, which is expected to unlock significant shareholder value. Market sources indicate Kunlun Chip is targeting a valuation of approximately $50 billion for its Hong Kong listing — notably exceeding Baidu's own current market capitalization of roughly $35.5-38 billion.

Macquarie forecasts Kunlun Chip's FY2026 revenue to more than double year-over-year to approximately RMB 8.5 billion, with steadily expanding margins. The bank assigns Kunlun Chip a valuation of approximately $48 billion, with Baidu's 59% stake translating to roughly $82.5 per share in equity value. Additionally, 9 investment banks have issued Buy ratings on Baidu over the past 90 days, with an average target price of HK$171.03, reflecting sustained market enthusiasm for Baidu's AI transformation and the spin-off listing.

(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.)