Daniel Cukier via flickr
The publication states that in attracting investors, Kunlunxin will focus on those who agree to buy its chips. Sources indicate that the acquisition cost is anticipated to be three to seven times the suggested IPO funding.
Kunlunxin submitted a confidential application for an IPO in Hong Kong in January. Chief Financial Officer Henry He informed The Wall Street Journal that the firm aims to become publicly traded by the close of this year.
Kunlunxin was established in 2011 and mainly provides chips to its parent organization. The firm has been separated into an independent company, yet Baidu holds a majority share. ByteDance, the parent company of TikTok, has shown interest in the AI chips developed by the company, according to a report by Reuters.
A report from the Bruegel think tank referenced by CNBC states that even with advancements in artificial intelligence, the United States continues to lead in the hardware competition for this emerging technology.
Concurrently, experts recognized that China might bridge this divide, referencing open-source resources, a government-backed surge of developers and assets, along with a sufficiently large internal market capable of fostering demand for Chinese solutions during their initial phases.
source: wsj.com, reuters.com
Kunlunxin submitted a confidential application for an IPO in Hong Kong in January. Chief Financial Officer Henry He informed The Wall Street Journal that the firm aims to become publicly traded by the close of this year.
Kunlunxin was established in 2011 and mainly provides chips to its parent organization. The firm has been separated into an independent company, yet Baidu holds a majority share. ByteDance, the parent company of TikTok, has shown interest in the AI chips developed by the company, according to a report by Reuters.
A report from the Bruegel think tank referenced by CNBC states that even with advancements in artificial intelligence, the United States continues to lead in the hardware competition for this emerging technology.
Concurrently, experts recognized that China might bridge this divide, referencing open-source resources, a government-backed surge of developers and assets, along with a sufficiently large internal market capable of fostering demand for Chinese solutions during their initial phases.
source: wsj.com, reuters.com