Baidu's high-performance AI chip subsidiary Kunlunxin (Kunlunxin) has secretly submitted an IPO application to the Hong Kong Stock Exchange on January 1st. After this spin-off, Kunlunxin will continue to remain within Baidu's ecosystem. According to Reuters, Kunlunxin's valuation in its latest funding round was approximately 3 billion USD, and although the final fundraising scale is yet to be determined, its capital activities have already attracted significant market attention.

GPU Chip (3)

Kunlunxin's origin can be traced back to Baidu's internal chip department established in 2012, which initially aimed to provide underlying computing power support for Baidu's search and AI businesses. In the past two years, Kunlunxin has accelerated its commercialization and independence, successfully expanding its customer base from the parent company to a broader external field. Amid global semiconductor supply chain fluctuations and U.S. export restrictions, Kunlunxin's listing plan is seen as a key step for China to accelerate the local semiconductor replacement and strengthen self-reliant computing power supply.

Currently, the Hong Kong Stock Exchange is witnessing a new wave of AI and chip companies "going public." In addition to Kunlunxin, several unicorn companies, including MiniMax, Biren Technology, and Omniverse Technology, are also actively preparing for their Hong Kong listings. This not only reflects the capital market's preference for domestic computing power chips but also indicates that Chinese AI infrastructure companies are collectively stepping onto the global capital stage.