Baidu’s AI chip unit, Kunlunxin, is planning to go public in Hong Kong at a target valuation of $50 billion, according to a report by The Information.
Investors have been asked to buy chips with a value three to seven times the worth of their planned subscription in Kunlunxin’s initial public offering shares.
Kunlunxin mainly supplies chips to Baidu but has expanded external sales over the past two years. Tencent is already a Kunlunxin chip customer.
China’s Tech Ambitions
China’s onshore technology IPOs are on track for their strongest year since 2023 as Beijing seeks to bolster listings of chip and artificial intelligence companies.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
