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Market Chatter: Baidu's Chip Arm Seeks IPO Investors Who Will Also Buy Semiconductors

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Kunlunxin Technology, an AI chip firm majority owned by Baidu (BIDU), is planning a Hong Kong IPO at a target valuation of $50 billion, The Information reported Monday.

Kunlunxin is prioritizing those who commit to buy its chips, the report said, citing two people who participated in a road show.

Shares of Baidu were up over 6% in afternoon trading.

Baidu did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $110.84, Change: $+6.62, Percent Change: +6.35%

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