BIDU(HK:09888) Sou Hu Cai Jing·2025-12-05 05:53Group 1 - Kunlunxin, a subsidiary of Baidu focused on AI chips, is preparing for an IPO in Hong Kong and has completed a new financing round with a post-money valuation of approximately 21 billion RMB (about 3 billion USD) [1][2] - Following the news, Baidu's stock in Hong Kong surged by 7.51%, reaching a peak increase of 8.70 [2] - Kunlunxin is recognized as a key player in China's high-performance computing sector, with the latest financing involving multiple institutional investors and the IPO preparations in preliminary stages [2][3] Group 2 - The push for Kunlunxin's market entry is driven by the tightening of U.S. export restrictions on advanced semiconductors and the growing domestic demand for high-end AI chips, indicating a significant shift towards local supply chain alternatives [3] - In the past year, several Chinese AI chip companies, including Cambricon and Suirian Technology, have also sought to go public, reflecting an accelerated move of the domestic computing ecosystem towards capital markets to support larger R&D investments [3] - As of now, Baidu has not responded to inquiries regarding the IPO plans [3]