Baidu AI Chip Unit Starts Dual-Listing Push in Shanghai, Hong Kong

By Sherry Qin

Baidu's AI chip unit has started the tutoring process for a proposed listing on China's Nasdaq-style STAR market, laying the groundwork for a dual listing in Shanghai and Hong Kong.

Kunlunxin Technology signed a tutoring agreement with China International Capital Corp. on April 29, according to a fling on China's securities regulator's website on Thursday.

Kunlunxin separately filed for an IPO in Hong Kong in January, with analysts expecting the listing to take place in late second quarter or early third quarter.

Baidu, once considered one of China's top technology giants alongside Alibaba Group and Tencent Holdings, has faced pressure on both revenue and profit as growth in its core advertising business slows. The company has been investing heavily in chip development, AI and self-driving technology as it seeks new growth drivers.

Kunlunxin, formerly the intelligent chip and architecture department, became an independent company in 2021. It is viewed as one of Baidu's most valuable assets, with Nomura estimating its revenue to reach 6.6 billion yuan in 2026, driven by growing demand for chips used for AI inference.

Kunlunxin's IPO plan comes amid a wave of AI-related listings in China and Hong Kong in recent months, including AI chip maker Moore Threads and large-language-model developer Minimax, as companies seek to capitalize on investor enthusiasm for artificial intelligence.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

May 08, 2026 01:02 ET (05:02 GMT)