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Deepti Sri · · 1 min readSources: Baidu’s AI chip unit valued at $2b after fresh fundraise
“Chinese search giant Baidu said on Monday that its artificial intelligence chip unit Kunlun recently completed a round of fundraising, which according to one source with direct knowledge of the matter values the business at about $2 billion,” Reuters reported.
Details:
- The financing round was led by Chinese firm CITIC Private Equity Funds Management. Other investors include IDG Capital, Legend Capital, and industry fund Oriza Hua.
- Baidu is also considering to commercialize its AI chip design facilities, with the aim of making Kunlun a standalone firm.
Context:
- Currently, Kunlun chips are used in the Beijing-headquartered company’s smart electric vehicles and cloud computing technology.
- Baidu recently came under fire for alleged investment deals in the internet sector that were in violation of China’s anti-monopoly law.
Editing by Collin Furtado and Eileen C. Ang
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