Baidu's (9888 HK) AI chip arm Kunlunxin aims to raise up to USD 2bln in Hong Kong IPO, according to Bloomberg citing sources

- Co. has picked China International Capital Corp., Citic Securities Co. and Huatai Securities, while China Securities International is also working on the potential offering.

Baidu's AI chip arm, Kunlunxin, is seeking to raise up to USD 2 billion in a Hong Kong IPO, indicating strong confidence in its growth potential amid an expanding AI market. The involvement of major underwriters suggests a robust interest from institutional investors, likely setting a precedent for future tech IPOs in the region. This development could enhance Baidu's overall valuation and position within the competitive AI sector, impacting investor sentiment across related equities and sectors.