June 14, 2024

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Truly Business

Baidu in talks to raise cash for a stand-by itself A.I. chip company

2 min read

A lady walks past the Baidu booth at the China Intercontinental Technologies Honest in Shanghai.

STR | AFP | Getty Photos

GUANGZHOU, China — Chinese research huge Baidu is in talks to increase dollars for a stand-by yourself synthetic intelligence semiconductor enterprise, a person with know-how of the issue explained to CNBC.

The move is emblematic of an ongoing press among the China’s largest technologies companies to increase their prowess in the chip sector. And for Baidu, it marks a more effort to diversify its business effectively over and above marketing.

Baidu’s Nasdaq-traded shares jumped 7.4% as U.S. markets opened Wednesday. They climbed 6.67% on Tuesday.

Baidu’s chip enterprise would be a subsidiary, with the research giant most likely to be the greater part shareholder, the person claimed. Venture money companies GGV and IDG Money are involved in early phase discussions to devote in Baidu’s chip business, the resource included. Each firms have intensive investments in China.

Baidu declined to remark when contacted by CNBC. IDG Capital was not instantly out there for comment. Calls to GGV’s places of work in Singapore, Shanghai and Beijing went unanswered.

At this time, Baidu has an in-household chip device that has aided to produce its Kunlun semiconductors, created to system large quantities of details for artificial intelligence programs. But a stand-on your own chip business is viewed assisting Baidu to superior commercialize its know-how, the source mentioned.

The semiconductor company would intention to offer chips to clients in various industries together with automakers, which are at present facing a global chip shortage.

A stand-on your own chipmaker could also tie into other parts of Baidu’s firms, this kind of as its driverless auto software program.

Diversification flurry

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