Baidu(BIDU.O) short-term rally before the session, now up 2%. Baidu's chip business has set up an independent chip company with a valuation of 13 billion.
Baidu's Kunlun chip business recently set up an independent new company-Kunlun Core (Beijing) Technology Co., Ltd., and Ouyangjian, chief architect of Baidu chip, served as CEO of Kunlun chip company. The company completed independent financing in March this year, led by CPE Yuanfeng, with investors including IDG, Junlian and Yuanhe Puhua, with a valuation of about 13 billion yuan. Baidu has confirmed the independence of the chip company.