Baidu assesses spin-off and listing of AI chip arm Kunlunxin

Chinese internet giant Baidu (9888) said it's in the process of assessing the spin-off and listing of its artificial chip unit Kunlunxin Technology, adding that there is no assurance for the proposal.

The proposed spin-off and listing will be subject to the relevant regulatory approval process if it proceeds, the company noted in an exchange filing.

Earlier, Reuters reported that Kunlunxin is planning an initial public offering in Hong Kong, and had completed a fundraising that valued it at 21 billion yuan (HK$23.11 billion).