Baidu Inc.’s AI chip unit, Kunlunxin, has confidentially filed for a Hong Kong initial public offering, marking a significant step for China’s AI hardware sector. The Beijing-based company said a separate listing would better reflect Kunlunxin’s value and attract investors focused on general-purpose AI computing chips, software, and hardware systems.
The IPO application was submitted to the Hong Kong stock exchange, though details including size and structure have not yet been finalized. Kunlunxin, which designs chips powering data center servers, is reportedly valued at over $3 billion. Baidu’s Hong Kong-listed shares rose as much as 9% following the announcement, continuing a 59% gain for 2025.
The IPO aligns with Beijing’s broader push to develop national AI champions and reduce reliance on foreign technology such as Nvidia chips. Other Chinese AI chip firms, including Shanghai Iluvatar CoreX Semiconductor and Biren Technology, have also pursued Hong Kong listings recently, reflecting strong investor interest.
Baidu said the separate listing would enhance Kunlunxin’s visibility with customers, suppliers, and partners while enabling the unit to access equity and debt capital markets to fund expansion and innovation in AI computing.
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