A day after its secondary listing in Hong Kong, Baidu announced a separate funding round for Kunlun, its artificial intelligence (AI) chip unit. On March 24, Baidu (NASDAQ: BIDU/09888.HK) said it had signed a stand-alone financing agreement for Kunlun’s chip business, valued at about 13 billion yuan after the investment. The lead investor of this round of financing is CPE Yuanfeng, and the co-investors are IDG Capital, Junlian Capital and Yuanhe Puhua. Baidu did not disclose the amount of the financing.
This is the first time Kunlun chip business independent financing. Kunlun is one of Baidu’s two AI chip series. Baidu released Kunlun and HHN respectively in 2018 and 2019, which are both used to support internal AI technology systems and application scenarios. The former is a general AI processor, while the latter is a dedicated voice interaction chip.