Exclusive: Baidu's Kunlunxin, valued at close to $3 billion, eyes Hong Kong IPO, sources say

Core Viewpoint - Kunlunxin, the AI chip unit of Baidu, is planning an initial public offering (IPO) in Hong Kong after completing a fundraising round that valued the company at 21 billion yuan (approximately $2.9 billion) [1] Company Summary - Kunlunxin is a subsidiary of Baidu focused on artificial intelligence chip development [1] - The recent fundraising indicates strong investor interest and confidence in the company's growth potential in the AI sector [1] Industry Summary - The AI chip market is experiencing significant growth, driven by increasing demand for AI applications across various industries [1] - The planned IPO reflects a broader trend of tech companies seeking to capitalize on the booming AI market through public offerings [1]