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Market Chatter: Baidu's AI Chip Arm Eyeing $50 Billion Hong Kong IPO

MT Newswires Live
Jun 29

Baidu's (HKG:9888) semiconductor division, Kunlunxin, is preparing for a Hong Kong listing at a target valuation of $50 billion, Reuters reported Monday, citing The Information.

The publication said Kunlunxin is asking potential investors to purchase additional chips worth several times their intended IPO subscription amount.

These developments come alongside Momenta's separate listing plans, which feature Mercedes and GIC as cornerstone backers, said the publication.

Baidu didn't immediately respond to MT Newswire's request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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