Baidu Plans Spin-Off of Kunlunxin Chip Unit for Independent Hong Kong Listing
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Baidu is moving to unlock the value of its in-house AI chip arm by spinning off Kunlunxin Technology for a standalone listing in Hong Kong.
On January 2, 2026, Baidu Group announced that Kunlunxin Technology had submitted a listing application to the Hong Kong Stock Exchange on January 1 through its joint sponsors. Following the proposed spin-off, Kunlunxin is expected to remain a subsidiary of Baidu.
Public information shows that Kunlunxin is an AI chip company incubated within Baidu, formerly known as Baidu’s Intelligent Chip and Architecture Division. The company focuses on the design and production of general-purpose AI chips and completed its first round of external financing in April 2021, at a valuation of approximately $1.86 billion.
Over the past two years, Kunlunxin has seen rapid business growth. In terms of customer expansion, in addition to Baidu as a key client, external customers account for around 40% of its business, including internet giants, smartphone manufacturers, telecom operators, and state-owned enterprises.
In 2024, Kunlunxin reported revenue exceeding $140 Million, surpassing that of AI chipmakers such as Enflame Technology, Biren Technology, and Moore Threads’ pre-IPO peers, as well as listed players including Moore Threads and Cambricon.
