- 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
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.
