Baidu’s Kunlun AI chip unit plans Hong Kong IPO after new funding round

Sources cited by Chinese tech outlet MyDrivers say Baidu’s AI chip subsidiary Kunlunxin has shifted its listing plan from Shanghai’s STAR Market to a Hong Kong IPO, aiming to file as early as Q1 2026 and list in early 2027. The report adds that Kunlunxin recently completed a new funding round valuing the company at about 21 billion yuan (roughly $3 billion) and that its 2024 revenue exceeded 1 billion yuan, surpassing domestic AI chip peers such as Cambricon and Moore Threads, underscoring Baidu’s growing in-house AI hardware capabilities.