Baidu’s Chip Unit Kunlunxin Sparks 3.5% Rally as China’s Semiconductor Sector Heats Up
Baidu shares climbed 3.5% as investors cheered plans to spin off its Kunlunxin semiconductor unit through a potential Hong Kong IPO. The AI chipmaker recently secured funding at a $2.97 billion valuation, riding China's push for domestic semiconductor independence.
Market Optimism reflects growing appetite for Chinese tech spin-offs, particularly in semiconductors where US export controls have created opportunities for local players. Kunlunxin's impending separation comes as Beijing prioritizes self-sufficiency in advanced computing components.
The rally extends Baidu's recent gains, with traders betting the listing could unlock hidden value in its AI infrastructure stack. Semiconductor stocks across Asia ROSE Monday amid renewed sector interest.
