Report: Baidu Spins Off Kunlun Chip for Secret Hong Kong IPO with Valuation of $3 Billion
Baidu's AI chip subsidiary, Kunlun Chip, has secretly submitted an IPO application in Hong Kong, with an estimated valuation of $3 billion. After the spin-off, it will remain within Baidu's ecosystem. Its predecessor can be traced back to Baidu's internal chip department established in 2012.