Baidu's AI Chip Unit Kunlun Valued At $2B In Latest Funding Round: Reuters

Baidu Inc’s (NASDAQ: BIDU) artificial intelligence (AI) chip unit Kunlun’s recent fundraising valued the business at around $2 billion, Reuters reports.

• The fundraising was led by the Chinese private equity firm, CITIC Private Equity Funds Management (CPE), including IDG Capital, Legend Capital, and Oriza Hua.
• Kunlun chips are mainly used for smart EVs and cloud computing.
• Baidu is contemplating the commercialization of AI chip design capabilities to make the Kunlun unit a standalone company.
• Baidu also operated another chip unit called Honghu.
• Last week, Baidu launched a Hong Kong listing to raise $3 billion.
• Price action: BIDU shares are up 0.28% at $264.99 in the pre-market session on the last check Monday.