[Baidu Surges Nearly 9%, Kunlun Chip Targets $50 Billion Valuation] According to a report by Jinse Finance, on June 29, Baidu Group-SW (9888.HK) saw its stock price strengthen, surging nearly 9% intraday to HK$107.4. As per the latest news from The Information, Baidu's subsidiary Kunlun Chip plans to go public in Hong Kong, with a target valuation of approximately $50 billion. Sources revealed that Tencent has already become a customer of Kunlun Chip, and ByteDance is also considering adopting its AI chips. Currently, the Kunlun Chip P800 has completed large-scale validation, delivering multiple 10,000-card clusters since 2025 and completing the training of the critical version Wenxin 5.1 on fully domestic clusters.