Baidu's AI chip unit Kunlunxin is planning a $50 billion initial public offering in Hong Kong. This was reported by Qazaqyia.kz citing Reuters.
According to The Information, Kunlunxin aims for a Hong Kong stock exchange listing with a valuation of $50 billion. The move is intended to strengthen Baidu's position in the artificial intelligence sector.
Kunlunxin is Baidu's chip development unit focused on AI. The company has previously disclosed IPO plans. If successful, it could be one of the largest listings of the year.