Jan. 2 at 11:41 PM
$BIDU 200$. 300$. Baidu said in a filing that a listing application for AI chip unit Kunlunxin had been submitted on Jan. 1. It didn’t provide any details about the size of the offering but analysts at Jefferies estimated that Kunlunxin is likely to be valued at between
$16 billion and
$23 billion, according to The Wall Street Journal.
Baidu is best known for its search engine, which has earned the company the title “China’s Google.” Much like Alphabet’s Google, its Western counterpart, Baidu has pivoted toward AI development with frequent updates to its Ernie chatbot.
Kunlunxin and other domestic Chinese companies such as Huawei Technologies, Cambricon Technologies, and Moore Threads are all hoping to get a foothold in the market while AI chip leader Nvidia is effectively barred from China.
