By Reuters
Publication Date: 2026-01-01 23:53:00
Jan 2 (Reuters) – Chinese internet search giant Baidu (9888.HK) said on Friday its AI chip unit Kunlunxin confidentially filed a listing application with the Hong Kong Stock Exchange on Jan. 1, paving the way for a spinoff and separate listing.
Reuters previously reported that Kunlunxin was planning an initial public offering in Hong Kong after completing a fundraising worth 21 billion yuan ($3 billion).
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China is pushing to develop domestic alternatives to U.S. semiconductors as Washington’s export restrictions on advanced chips escalate, and several other Chinese AI chip companies have announced stock market debuts.
Earlier this week, Chinese AI startup MiniMax said it expects to raise up to HK$4.19 billion (US$538 million) through its Hong Kong offering, and semiconductor designer Shanghai Biren Technology (6082.HK) The company raised HK$5.58 billion in its public offering, according to a stock exchange filing.
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