[News] Baidu Reportedly Explores Kunlunxin Spinoff and Listing Amid a Surge in China Chip IPOs

With China rushing to advance its AI chip capabilities despite U.S. export controls, Kunlunxin, the AI chip subsidiary of Chinese internet giant Baidu, is gaining renewed attention, particularly as rumors swirl about a possible IPO. According to Economic Daily News, Baidu’s AI chip subsidiary was recently reported to be planning a Hong Kong listing. However, Baidu issued a statement on the 7th clarifying that it is evaluating a proposed spin-off and listing of Kunlunxin, but no final decision has been made.

While Baidu has clarified that an IPO is not yet finalized, Kunlunxin’s valuation momentum remains strong.  As noted by Reuters, citing sources, the company completed a new funding round within the past six months, raising more than 2 billion yuan from a China Mobile fund and other private investors. The round valued Kunlunxin at about 21 billion yuan, up from 18 billion yuan in its previous fundraising, the report adds.

Beyond speculation over Kunlunxin’s own listing plans, Reuters also points out that China’s chipmakers are moving ahead with a broader wave of IPOs. According to the report, following Moore Threads’ recent listing, MetaX is expected to debut in the coming weeks.

Kunlunxin’s Rapid Growth and Expanding Market Presence

Kunlunxin has been rising quickly within China’s chip industry. According to Mydrivers, the company has recorded rapid business growth over the past two years. The report notes that while Baidu remains a major client, external customers now account for roughly 40% of its business, including major internet companies, smartphone manufacturers, telecom operators, and central state-owned enterprises.

Mydrivers also points out that Kunlunxin’s revenue performance has been strong. In 2024, the company generated more than 1 billion yuan in revenue, surpassing other Chinese chip firms that have already filed for IPOs — including Enflame, Biren Technology, and MetaX — as well as listed companies such as Moore Threads and Cambricon Technologies.

Kunlunxin Showcases Next-Gen AI Chip Roadmap

Kunlunxin has also been demonstrating its technological strength. According to Insight IPO on Sina, at Baidu World held in November, Baidu unveiled the next generation of Kunlunxin chips along with the Tianchi super-node product. Insight IPO notes that two new Kunlunxin models — the M100 and M300 — made their debut at the event. The M100 is optimized for large-scale inference and is scheduled for release in 2026, while the M300 targets training and inference for ultra-large multimodal models and is expected to launch in 2027.

Meanwhile, as Insight IPO highlights, the core technological foundation supporting Kunlunxin’s high valuation is its third-generation P800 series — an AI accelerator chip built on the company’s self-developed XPU-P architecture that has already entered mass production and large-scale deployment. According to the report, the P800 delivers 345 TFLOPS of FP16 performance, far exceeding NVIDIA’s H20 chip for the Chinese market, which reaches 148 TFLOPS.

Read more

• [News] China’s GPU Trio Rise as NVIDIA Retreats — Decoding Moore Threads, MetaX, and Cambricon
• [News] Baidu Rolls Out Kunlun Roadmap, M100 & M300 AI Chips Arrive 2026–2027
• [News] Baidu Reportedly Launches Its Biggest Layoffs in Years as It Overhauls Its AI Business

(Photo credit: Kunlunxin)