Baidu Kunlun Chip is planning a dual listing on the Sci-Tech Innovation Board and in Hong Kong, with a valuation exceeding $3 billion

According to Constellate Beating monitoring, Baidu's AI chip subsidiary Kunlun Chip is advancing its dual listing plan. Bloomberg reported that documents submitted to the China Securities Regulatory Commission by CICC indicated that Kunlun Chip is seeking an initial public offering (IPO) on the Shanghai STAR Market. Earlier, Kunlun Chip was revealed to have secretly filed for a listing in Hong Kong earlier this year.

Established internally at Baidu in its early years, Kunlun Chip aims to provide computational power support for its AI business, with Baidu currently holding 58% of the company's shares. In a report last December, Kunlun Chip was valued at a minimum of $3 billion. Jefferies analysts expect Kunlun Chip's Hong Kong IPO to be completed in the third quarter of this year, with a STAR Market listing making it easier to attract funding from domestic investors.

Recently, companies like DeepSeek and ByteDance have successively released new-generation large models, significantly driving demand for domestic inference chips. Influenced by this trend, the market's willingness to invest in domestic chip companies continues to surge, with reports indicating that Alibaba is also considering spinning off its chip division for a separate listing.