BIDU is trading at $147.72 (+5.7%) in pre-market after its AI chip subsidiary, Kunlunxin Technology, announced plans for dual listings on Shanghai’s STAR Market and the Hong Kong Stock Exchange.
- Kunlunxin entered a tutoring agreement with China International Capital Corp on April 29, signaling a formal step toward its public debut.
- The move capitalizes on China’s AI chip surge and broader tech sector strength, with the stock rising from yesterday's close of $139.87.
- The listing plans provide a clear catalyst for the stock, outperforming the broader market as the Nasdaq rose 0.61%.