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BTCC / BTCC Square / Global Cryptocurrency /
Baidu’s AI Chip Unit Kunlunxin Files for Hong Kong IPO Amid Nvidia Restrictions

Baidu’s AI Chip Unit Kunlunxin Files for Hong Kong IPO Amid Nvidia Restrictions

Author:
Global Cryptocurrency
Published:
2026-01-02 14:39:02
13
2
BTCCSquare news:

Baidu's AI chip subsidiary Kunlunxin has filed for an initial public offering on the Hong Kong stock exchange, signaling a strategic MOVE to capitalize on China's growing demand for domestic semiconductor solutions. The January 1, 2026 filing comes as U.S. restrictions continue limiting Nvidia's ability to supply advanced chips to Chinese markets.

Market response was immediate and bullish, with Baidu's American depositary receipts jumping 9.7% in premarket trading and Hong Kong-listed shares rising 9.4%. Jefferies analysts project Kunlunxin could command a valuation between $16 billion to $23 billion, reflecting intense investor appetite for homegrown AI technology alternatives.

The IPO timing coincides with broader momentum in China's semiconductor sector, evidenced by Shanghai Biren Technology's 76% surge during its Hong Kong debut. Kunlunxin, founded in 2012 and 59%-owned by Baidu, develops specialized AI processors that power the tech giant's ecosystem while competing in the rapidly evolving chip market.

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