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.
CPE, IDG, Legend Capital and Oriza Hua's parent Suzhou Oriza Holdings didn't immediately respond to requests for comment. The source declined to be named as the information is not public.Baidu is considering commercializing its AI chip design capabilities, with the aim of making the Kunlun unit a standalone company, according to the source.Last week, Nasdaq-listed Baidu began raising a targeted US$3 billion as part of its plan for a secondary listing in Hong Kong.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.