Baidu’s AI Chip Arm Kunlunxin Is Said to Pick Banks for $2 Billion Hong Kong IPO

Baidu Inc.’s artificial-intelligence chip unit has hired banks for an initial public offering in Hong Kong that may raise as much as $2 billion, according to people familiar with the matter.

Kunlunxin has picked China International Capital Corp., Citic Securities Co. and Huatai Securities Co. as lead banks on the IPO, the people said, asking not to be identified because the information is private. China Securities International is also working on the potential offering, they said.