business
Baidu's AI chip unit Kunlunxin targets $50 billion Hong Kong IPO, The Information reports
Key takeaways
- 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, the report said.
- Baidu did not immediately respond to a Reuters request for comment.
- TikTok parent ByteDance was considering using Baidu's Kunlunxin chips, Reuters had reported this month, citing sources.
Baidu's AI chip unit Kunlunxin targets $50 billion Hong Kong IPO, The Information reports Baidu logo at an exhibition center during organised media tour in Hohhot · Reuters Reuters Mon, June 29, 2026 at 1:19 AM GMT+7 1 min read 0700.HK June 28 (Reuters) - Baidu's AI chip unit, Kunlunxin, is planning to go public in Hong Kong at a target valuation of $50 billion, The Information reported on Sunday, citing two sources.
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, the report said.
Reuters could not immediately verify the report. Baidu did not immediately respond to a Reuters request for comment.
Article preview — originally published by Yahoo Finance. Full story at the source.
Read full story on Yahoo Finance →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from Yahoo Finance alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop