Baidu’s AI chip unit, Kunlunxin Technology, is pursuing a dual listing on Shanghai’s STAR Market and the Hong Kong Stock Exchange. The company signed a tutoring agreement with China International Capital Corp. on April 29 for the Shanghai listing.
This follows a confidential filing for a Hong Kong initial public offering in January 2026. The strategy aims to leverage investor interest in artificial intelligence and China’s push for semiconductor self-sufficiency.
Baidu currently holds a majority stake of approximately 59% in the unit. It will remain the controlling shareholder following the spin-off. Kunlunxin operated as an internal department before becoming an independent company in 2021.