Baidu's AI Chip Unicorn Eyes $140 Billion HK IPO for Kunlun Xin Unit

Baidu's AI chip arm Kunlun Xin is targeting a Hong Kong IPO with a valuation exceeding $140 billion, according to sources. The company has filed confidentially with HKEX while initiating domestic listing preparations, reflecting a dual-capital-market strategy for flexible financing and long-term confidence in China's tech sector.

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Iran Advances Draft Law on Strait of Hormuz, Escalating Geopolitical Stakes

Iran is accelerating the drafting of legislation concerning the Strait of Hormuz, following multiple consultations between parliamentary security committees and relevant ministries. The draft law, to be submitted after parliament reconvenes, marks a significant step in Iran's efforts to assert legal control and strategic posture over this vital global waterway.

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