Baidu’s Kunlunxin Targets Hong Kong IPO at nearly $3 billion Valuation
On December 5, 2025, news broke that Kunlunxin, the AI-chip unit of Baidu, is preparing for an initial public offering (IPO) in Hong Kong. The unit recently raised funds that valued it at about 21 billion yuan (roughly US$2.97 billion). This move is more than just a listing. It signals China’s growing push to build…