Kunlunxin, the AI chip subsidiary of Baidu, is set to make its debut on the Hong Kong stock market, targeting a valuation of around US$50 billion. Sources reveal that to partake in this initial public offering (IPO), certain investors are mandated to purchase chip products with a value equivalent to 3-7 times their intended subscription amount. However, this claim remains unverified, and Baidu has not promptly responded to inquiries for comment. Previously, whispers circulated that ByteDance was contemplating the adoption of Kunlunxin's AI chips, while Tencent had already embraced them as a customer. On January 1st of this year, Kunlunxin filed its listing application with the Hong Kong Stock Exchange, utilizing joint sponsors. Even after the spin-off, Kunlunxin will persist as a subsidiary of Baidu. Initially founded in 2012 as Baidu's internal AI chip research and development department, Kunlunxin transitioned into an independent entity, with Baidu retaining a controlling interest.