Baidu Kunlunxin Hong Kong IPO 2026: China’s Strategic Bet on AI Chip Self-Reliance
Baidu files for Kunlunxin's Hong Kong IPO in 2026. Discover how the AI chip unit is pivoting to third-party sales amid US-China tech tensions.
China's AI chip titan is going public. Baidu has confidentially filed to spin off its AI chip unit, Kunlunxin, for an IPO on the Hong Kong Stock Exchange. The move marks a significant pivot as Beijing races to insulate its tech sector from ongoing U.S. export restrictions.
Baidu Kunlunxin Hong Kong IPO 2026: From Internal Tool to Market Rival
Kunlunxin, currently 59% owned by Baidu, is transitioning from a captive supplier to a major third-party player. While it originally powered Baidu's own Ernie AI models, it's now aggressively seeking external customers. Analysts estimate Kunlunxin's revenue exceeded 3.5 billion yuan ($500 million) last year, and they're expected to reach a break-even point as external sales grow to over half of total revenue in 2025.
Filling the Nvidia Vacuum
As Washington tightens the screws on NVIDIA exports, Chinese firms are desperate for domestic alternatives. Counterpoint Research notes that Kunlunxin’s strength lies in its software compatibility, making it easier for users to migrate workloads from closed systems. The unit recently secured orders worth over 1 billion yuan from China Mobile suppliers and holds a private valuation of approximately 21 billion yuan.
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