Baidu’s AI chip unit Kunlunxin targets $50 billion Hong Kong IPO: Report

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.