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EN590 Commodities GroupBitumen 2026-06-28T18:19:13+00:00
(Corrects paragraph 7 to say Kunlunxin was founded in 2011, not 2012) June 28 (Reuters) - Baidu's AI chip unit, Kunlunxin, is planning to go public in Hong Kong at a target valuation of $50 billion, The Information reported on Sunday, citing two sources. Investors have been asked to buy chips with a value three to seven times the worth of their planned subscription in Kunlunxin's initial public offering shares, the report said. Reuters could not immediately verify the report. Baidu did not immediately respond to a Reuters request for comment. TikTok parent ByteDance was considering using Baidu's Kunlunxin chips, Reuters had reported this month, citing sources. Tencent is already a Kunlunxin chip customer, according to one of the sources. Baidu said in January that Kunlunxin had c
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