Baidu's AI Chip Unit Kunlun Xin Plans Up to $2 Billion Hong Kong IPO

Deep News01-07

According to informed sources, Kunlun Xin, the artificial intelligence (AI) chip company under Baidu, has hired investment banks to arrange a Hong Kong initial public offering (IPO), with the fundraising amount potentially reaching up to $2 billion.

The sources revealed that Kunlun Xin has selected CICC, CITIC Securities, and Huatai Securities as the lead underwriters for the IPO, with China Securities Co., Ltd. also participating in drafting the potential issuance plan for the company.

The sources indicated that related discussions are still ongoing, and details such as the IPO size may be subject to change, noting that the final financing scale could also be around $1 billion.

Baidu stated on January 2nd that Kunlun Xin has already submitted its Hong Kong IPO filing on a confidential basis.

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