Baidu chip unit Kunlunxin files for Hong Kong IPO amid China’s push for tech self-reliance

Baidu’s artificial intelligence chip subsidiary Kunlunxin (Beijing) Technology has confidentially applied for an initial public offering (IPO) in Hong Kong, as the search and AI giant becomes the latest to join an investment frenzy amid China’s drive for tech self-reliance. The Kunlunxin prospectus was submitted on Thursday but details such as the size and structure of the IPO had not yet been finalised, Baidu said in a statement on Friday. Baidu’s Hong Kong-listed shares rose 7.5 per cent to...