Baidu's Hong Kong shares jump on report AI chip unit plans listing

Reuters
2025.12.05 05:36
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Baidu's Hong Kong shares surged 7.8% to HK$124.8, marking the highest level since November 13, driven by news of its AI chip unit, Kunlunxin, planning an IPO in Hong Kong. Kunlunxin's recent fundraising valued it at 21 billion yuan ($2.97 billion). This move aligns with a trend of Chinese chip companies going public. Year-to-date, Baidu's Hong Kong stock has risen 47.2%, while U.S.-listed shares are up 40.8%.

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