Baidu, Inc. (NASDAQ:BIDU) is one of the AI Stocks Making Waves on Wall Street. On January 2nd, Jefferies analyst Thomas Chong raised the firm’s price target on the stock to $181 from $159 and kept a “Buy” rating on the shares. Firm analysts remain constructive on the shares as they view potential value unlock from the recent HK listing while BIDU retains control.
The tech giant recently announced plans to spin off its artificial intelligence chip subsidiary, Kunlunxin, and list it in Hong Kong. The company has already filed a listing application on the Hong Kong Stock Exchange, with the proposed spin-off to include a Hong Kong public offering of Kunlunxin shares for public subscription and a share placement.
“Baidu announced the proposed spin-off of Kunlunxin (KLX) shares and separately listing to Main Board of Stock Exchange of Hong Kong. The proposed spin-off will be effected by way of Global Offering, which comprises (a) HK public offering of Kunlunxin Shares for subscription by public in HK; (b) share placement to institutional and professional investors.”
Analysts noted how after the completion of this proposed spin-off, it is likely that KLX will remain as a subsidiary of Baidu. However, the deal depends on approvals from authorities. This deal marks another update from Baidu on KLX after the previous one from December 2025.
Baidu, Inc. (NASDAQ:BIDU) is a Chinese internet giant and AI pioneer, known for its noteworthy investments in artificial intelligence technology and its position as the dominant search engine within the country.
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