Chinese tech giant Baidu
has announced plans to spin off its artificial intelligence chip subsidiary, Kunlunxin, and list it in Hong Kong, as more domestic chipmakers seek funds amid Beijing’s push for semiconductor self-sufficiency.
The company said in an announcement Friday that it had confidentially filed a listing application on the Hong Kong Stock Exchange, though details of the offering, including size and structure, remain undecided.
The move would still require regulatory approvals, including from China’s securities watchdog. Baidu emphasized there is no guarantee the spin-off will proceed. The company reportedly owns about 59% of Kunlunxin.
Baidu, a major player in China’s growing AI space, is both a buyer of specialized AI chips for data centers and cloud computing, as well as a designer of them through Kunlunxin.
