Baidu Denies Rumors of Kunlunxin IPO Delay
Baidu has officially denied recent market rumors and reports suggesting that the IPO of its AI chip subsidiary, Kunlunxin, has been delayed. The company stated that Kunlunxin is currently in the confidential filing stage and cannot disclose non-public information. This clarification addresses market uncertainties surrounding one of China's prominent domestic AI chip developers as it seeks public market listing. It highlights the strict regulatory compliance constraints faced by subsidiaries undergoing pre-IPO evaluations. Kunlunxin previously submitted an application form to the Hong Kong Stock Exchange in January and initiated its Sci-Tech Innovation Board (STAR Market) IPO coaching process in May. Baidu remains the majority shareholder, holding a 57.67% stake in the subsidiary.
## BACKGROUND
Kunlunxin originated from Baidu's intelligent chip and architecture department, which began developing AI acceleration technology in 2011 before being spun off into an independent entity in 2021. The STAR Market, often referred to as China's Nasdaq, is a board on the Shanghai Stock Exchange designed to support high-tech and strategically emerging companies.