(Jan 7): Baidu Inc’s artificial intelligence (AI) chip unit has hired banks for an initial public offering (IPO) in Hong Kong that may raise as much as US$2 billion (RM8.11 billion), according to people familiar with the matter. China Securities International is also working on the potential offering, they said. China Securities, CICC and Huatai also didn’t respond, and Citic declined to comment. Kunlunxin, which makes chips that power servers in data centres, confidentially filed for the IPO last week, Baidu said on Jan 2. AI-related companies are going public in Hong Kong to tap investor demand for a sector deemed strategic by Beijing as it pushes for technological self-reliance.

Source: The Edge Markets January 07, 2026 07:42 UTC