BEIJING: Chinese search giant Baidu Inc 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 US$2 billion.
The fundraising, which comes as the company pushes forward with AI chip design and manufacturing ambitions, was led by Chinese private equity firm CITIC Private Equity Funds Management , the source said. Other investors include IDG Capital, Legend Capital and an industry fund Oriza Hua, the person added."Kunlun chip business has recently completed a round of financing.
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