Baidu’s AI Chip Unit Kunlun Completes New Funding, At $2 Billion Valuation, Says Source: Report

- Advertisement -
  • The fundraising was led by Chinese private equity firm CITIC Private Equity Funds Management (CPE), the source said
  • Other investors include IDG Capital, Legend Capital and an industry fund Oriza Hua, the person added

As per a report by Reuters, Baidu Inc said that its artificial intelligence chip unit Kunlun recently completed a round of fundraising, which according to one source with direct knowledge of the matter values the business at about $2 billion. The report added that the fundraising was led by Chinese private equity firm CITIC Private Equity Funds Management (CPE), the source said. Other investors include IDG Capital, Legend Capital and an industry fund Oriza Hua, the person added.

The report added that Baidu said in a statement sent to Reuters on Monday, declining to comment on the investors, fundraising amount or valuation that Kunlun chip business has recently completed a round of financing. The company will release more information in due course.

Currently used mostly by Baidu on smart electric vehicles and cloud computing

- Advertisement -

The report said that CPE, IDG, Legend Capital and Oriza Hua’s parent Suzhou Oriza Holdings didn’t immediately respond to requests for comment. The source declined to be named as the information is not public. Kunlun chips are currently used mostly by Baidu on smart electric vehicles and cloud computing.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

5G Chipset Market to Hit $92.09B by 2030

0
Reports indicate that the global next-gen wireless processor market is on track to surpass the $100 billion mark in the coming decade. The 5G chipset...
Gursaurabh Singh, Founder of Dhruv Vidyut

“Electrifying Rural Mobility- Converting Traditional Bicycles Into E-Bikes”

0
In a conversation with Nitisha Dubey from EFY, Gursaurabh Singh, the Founder of Dhruv Vidyut, discusses their conversion kit, which can transform any conventional...
Rahul Bollini, the Founder of Bollini Energy

“Formal Contracts For Long-Term Commitments Are Not Always Necessary”

0
Bollini Energy collaborates with various companies interested in understanding the complete value chain of Lithium-ion cells. They offer technical services that span from mining...

Buzz

Government Expands Electronics Manufacturing, Doubles Output

0
Ashwini Vaishnaw emphasises government efforts to expand electronics manufacturing, aiming to double production and employment in five years, alongside implementing the DPDP Act. India's electrical...

Assam To See 1000 MW Solar Power Project Shortly

0
The Chief Minister of Assam announced that the construction of the Karbi Anglong solar power project will begin soon.  Himanta Biswa Sarma, the Chief Minister,...

TIER IV And Suzuki Partner For Autonomous Driving In Japan

0
Tier IV, a pioneer in developing Autoware, the first open-source software for autonomous driving in the world, has formed a business alliance with Suzuki...

Important Sectors

Government Expands Electronics Manufacturing, Doubles Output

0
Ashwini Vaishnaw emphasises government efforts to expand electronics manufacturing, aiming to double production and employment in five years, alongside implementing the DPDP Act. India's electrical...

Assam To See 1000 MW Solar Power Project Shortly

0
The Chief Minister of Assam announced that the construction of the Karbi Anglong solar power project will begin soon.  Himanta Biswa Sarma, the Chief Minister,...

TIER IV And Suzuki Partner For Autonomous Driving In Japan

0
Tier IV, a pioneer in developing Autoware, the first open-source software for autonomous driving in the world, has formed a business alliance with Suzuki...

Mahindra Group Pursues Global Partnerships For EV Expansion

0
Mahindra Group seeks global partners for local battery cell production to meet rising electric vehicle demand and plans to list Mahindra Electric Automobile Ltd...

Essar Plans $3.5B Green Hydrogen Plant In Gujarat

0
The Mumbai-based metals-to-infrastructure conglomerate has planned an investment of Rs.30,000 crores in a green hydrogen plant. The company says this will boost its business...

Manufacturing

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...

Uno Minda Shines With Increased Content Per Car And EV Focus

0
Uno Minda, a key player in the auto parts industry, has demonstrated significant revenue growth, surpassing industry averages by more than double over the...