BEIJING (Reuters) – Chinese research giant Baidu Inc said Monday that the Kunlun artificial intelligence chip unit recently completed a round of fundraising, which according to one source with direct knowledge of the business is valued. about $ 2 billion.
The fundraiser, which comes as the company pushes forward with AI chip design and manufacturing intentions, was led by Chinese private equity firm CITIC Private Equity Asset Management (CPE), the source said. Other investors include IDG Capital, Legend Capital and business fund Oriza Hua, the add-on added.
“The Kunlun chip industry has recently completed funding. We will release more information in due course, ”Baidu said in a statement sent to Reuters on Monday, refusing to comment on the investors, the amount raised or the valuation.
Reciting with Yingzhi Yang and Tony Munroe; Edited by Shri Navaratnam