By Robyn Mak
Kunlunxin may bag a $50 bln valuation, up 17-fold in months as semiconductor shortages continue, accounting for most of its top owner’s worth. The implied 25 times sales is akin to listed rivals. But the speed and disconnect highlight how the market is running uncomfortably hot.
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CONTEXT NEWS
Baidu's AI chip unit, Kunlunxin, is planning to go public in Hong Kong at a $50 billion valuation, The Information reported on June 28, citing sources familiar with the matter.
The chipmaker, 58% owned by Baidu, was valued at 21 billion yuan ($3.1 billion) in a December fundraising, Reuters reported at the time, citing sources.