Baidu's AI chip unit Kunlunxin targets $50 billion Hong Kong IPO, The Information reports

Reuters

Sun, June 28, 2026 astatine 1:19 PM CDT 1 min read

June 28 (Reuters) - Baidu's AI spot unit, Kunlunxin, is readying to spell nationalist successful Hong Kong ‌at a people valuation of $50 billion, The Information ‌reported connected Sunday, citing 2 sources.

Investors person been asked to bargain ​chips with a worth 3 to 7 times the worthy of their planned subscription successful Kunlunxin's archetypal nationalist offering shares, the study said.

Reuters could not instantly verify the ‌report. Baidu did ⁠not instantly respond to a Reuters petition for comment.

TikTok genitor ByteDance was considering utilizing ⁠Baidu's Kunlunxin chips, Reuters had reported this month, citing sources. Tencent is already a Kunlunxin spot customer, according to 1 ​of the ​sources.

Baidu said successful January ​that Kunlunxin had confidentially ‌filed a listing exertion with the Hong Kong banal exchange, paving the mode for a spin-off and abstracted listing.

China's onshore exertion IPOs are connected way for their strongest twelvemonth since 2023 arsenic Beijing seeks to bolster ‌listings of spot and artificial ​intelligence companies successful a propulsion for ​tech self-reliance amid ​the country's rivalry with the U.S.

Founded successful ‌2012 arsenic an interior concern ​unit processing ​AI chips for Baidu, Kunlunxin has since go independently operated, though Baidu retains a controlling stake.

Kunlunxin chiefly ​supplies chips to ‌Baidu but has expanded outer income implicit the ​past 2 years.

(Reporting by Preetika Parashuraman successful ​Bengaluru; Editing by Mark Porter)