Baidu stock jumps nearly 15% after AI chip unit Kunlunxin files for Hong Kong IPO
NEW YORK, Jan 3, 2026, 18:50 ET — Market closed Baidu’s U.S.-listed American depositary shares (BIDU) closed up 14.9% at $150.30 on Friday after the company said its AI chip unit Kunlunxin had filed for a Hong Kong listing. Baidu said Kunlunxin submitted a listing application to the Hong Kong stock exchange (HKEX) on a confidential basis, setting the stage for a spin-off — listing a subsidiary separately from the parent. The company said the move is meant to better showcase Kunlunxin’s value and broaden financing channels, and that Kunlunxin is expected to remain a Baidu subsidiary after the transaction.