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<Research>Citi Maintains Buy on Baidu (BIDU.US); Kunlun Chip M100 to Launch Early 2026
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Citigroup released a research report, covering BIDU-SW (09888.HK)(BIDU.US)'s 2025 Baidu World Conference, which highlighted key developments such as the Ernie 5.0 upgrade and digital humans, and unveiled the soon-to-be-released self-developed chips Kunlun and TianChi supernodes.

Among these, the Kunlun Chip M100 is set to launch early 2026, with the M300 slated for release in 1H27. The broker maintained a Buy rating on Baidu's US shares, with a target price of US$166.

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