Beijing: Baidu’s rapidly growing artificial intelligence semiconductor arm, Kunlunxin, is preparing for one of the most closely watched tech listings in China’s AI hardware sector, following a major fundraising round that valued the company at nearly 21 billion yuan (about US $2.97 billion), according to sources familiar with the deal.

The fundraising, completed over recent months, drew interest from a wide range of strategic and state-linked investors. Among the notable participants was an investment vehicle associated with China Mobile, signalling strong state-sector confidence in the company’s technological direction and long-term market relevance.

The new valuation reflects a sharp rise from its previous estimated worth of 18 billion yuan, underscoring investor belief in the domest

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