Chinese tech giant Baidu spins off $2 billion AI chip unit, gears up for homegrown production amid fierce competition
Chinese search giant Baidu Inc has confirmed that its artificial intelligence (AI) chip unit Kunlun has been spun off as an independent company with a valuation of 13 billion yuan ($2 billion), underscoring the Chinese internet giant’s ambition in developing and commercializing its in-house chipsets amid growing industry competition.
Ouyang Jian, the chief architect of Baidu chip, will become its CEO. Baidu Kunlun completed its first round of funding and reached a valuation of $2 billion in April…
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SOURCE: GLOBAL TIMES