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Baidu Announces Proposed Spin-off and Separate Listing of Kunlunxin
Baidu aims to attract AI chip investors and enhance Kunlunxin's market profile with a Hong Kong spin-off, following a valuation near $3 billion, company said.
- On Jan. 1, 2026, Baidu announced a proposed spin-off and separate listing of Kunlunxin Technology Co., Ltd. H shares on the Main Board of the Hong Kong Stock Exchange, following earlier confidential IPO filings.
- The Proposed Spin-off aims to showcase Kunlunxin's value, attract AI chip investors, broaden financing channels and align management accountability as Baidu recently reported revenue and profit declines, and market watchers see it unlocking conglomerate value.
- Baidu is estimated to own about 59% of Kunlunxin and intends to keep it as a subsidiary after listing, while Baidu's shares jumped about 13.1% as the market cap rose by about $6 billion.
- Analysts including Jefferies said the spin-off could unlock Kunlunxin's valuation and give it independent access to equity and debt capital markets, increasing transparency and investor appeal.
- As Winston Ma observed, Shanghai Biren Technology's Hong Kong debut raised $717 million with the retail portion subscribed more than 2,300 times, while Zhipu AI and Iluvatar CoreX are set to debut on January 8, 2026.
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Baidu Begins 2026 With A Strong AI Move, Stock Soars - Baidu (NASDAQ:BIDU)
Baidu plans to spin off and list its AI chip unit Kunlunxin in Hong Kong, aiming to unlock value, expand financing, and benefit from China's push for homegrown semiconductor technology.
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Total News Sources69
Leaning Left8Leaning Right4Center24Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 22%
C 67%
11%
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