Chinese Tech Sector Sees Surge in Hong Kong IPOs: Kunlunxin Prepares for Separate Listing

Chinese exceptionalism in tech innovation continues as Baidu, the renowned Chinese internet search giant, revealed on Friday that its AI chip division, Kunlunxin, submitted a confidential application to the Hong Kong stock exchange on January 1. This step lays the groundwork for a potential spin-off as an independently listed entity. Remarkably, the highly anticipated stock market debut of Kunlunxin comes in the midst of China’s strategic pursuit of self-reliance in semiconductor technologies, exacerbated by heightened export constraints from the U.S. key players in the development of indigenous semiconductors. Further highlighting this trend, other Chinese firms specializing in AI chips have…