Baidu shares jump 7% as AI chip arm Kunlunxin said to target $50 billion Hong Ko

Hong Kong-listed shares of Baidu surged more than 7% Monday on reports that its artificial intelligence chip unit Kunlunxin is targeting an initial public offering in the city, which could value its affiliate at $50 billion.

Prospective investors were asked to buy semiconductors worth three to seven times the value of their intended investment in Kunlunxin's planned listing, The Information reported Sunday, citing two sources familiar with the matter.

Baidu confidentially filed a listing application for Kunlunxin on the Hong Kong Stock Exchange at the start of the year, though offering details, including size and structure, were undecided then.

Kunlunxin chips have drawn interest from ByteDance, the owner of TikTok, according to an earlier Reuters report citing sources.

Founded in 2011, Kunlunxin mainly supplies ‌chips to its parent company Baidu. While Baidu retains a controlling stake, the company operates independently and has broadened its scope to external sales over the past two years.

The report comes as China accelerates efforts to strengthen its position in the increasingly competitive AI sector.

"Despite Chinese progress, the United States remains for now ahead in t

Fuente original: CNBC Top News (https://www.cnbc.com/2026/06/29/baidu-kunlunxin-hong-kong-ipo-50-billion-ai-chips.html)