Baidu AI chip company ARM to raise $2 billion in Hong Kong IPO, domestic chip listing boom accelerates

Baidu’s AI chip subsidiary ARM plans to raise up to $2 billion in an IPO in Hong Kong. This is not only an important step in Baidu’s AI chip strategy but also reflects the current financing boom among domestic chip companies. As companies like Kunlun Chip and Bairen Technology push forward with their listings, domestic AI chips are entering a period of concentrated financing, driven by strong market demand for chip domestic substitution.

The Core Drivers of the AI Chip Financing Boom

Strategic Significance of the ARM IPO

Baidu ARM’s plan to raise $2 billion places it among the leading domestic AI chip companies in terms of scale. This funding will be used to strengthen R&D and industrialization of AI chips, representing Baidu’s strategic layout in AI computing power. According to the latest news, Baidu Kunlun Chip’s split listing is also progressing, and the ARM IPO will further enhance Baidu’s chip ecosystem.

Market response shows that the financing enthusiasm for domestic AI chip companies continues to rise. Bairen Technology’s first-day gain of over 75% in Hong Kong stocks clearly indicates investor confidence in domestic AI chips.

The Triple Resonance of Market Background

Behind the recent intensive financing of domestic chip companies are several key factors:

• Accelerated domestic substitution: Nvidia and other overseas chip giants plan to raise GPU prices, giving more market opportunities to domestic GPU companies
• Policy support: The national big fund’s holdings in semiconductor leaders nearly doubled, with clear policy guidance
• Market recognition: The Hang Seng Tech Index in Hong Kong hit its strongest start since 2009, with high foreign investment willingness

Benchmarking Domestic AI Chip Companies’ Financing

According to the latest news, the financing progress of domestic AI chip companies is as follows:

Baidu’s Complete AI Chip Ecosystem Layout

According to Morgan Stanley’s recent report on the Top 25 humanoid robot technology companies, Baidu ranks first in the brain module. This indicates that Baidu’s AI chip strategy is not only focused on the present but also looking to the future. The ARM IPO financing will strengthen this advantage:

• R&D investment: for next-generation AI chips
• Capacity expansion: to meet market demand for domestic AI chips
• Ecosystem enhancement: forming product matrices with Kunlun Chip and others

Future Outlook for the Domestic Chip Listing Wave

From market trends, the listing wave of domestic AI chip companies may continue to accelerate. The underlying logic includes:

• Domestic chip substitution has become a core track for 2026, with investor enthusiasm remaining high
• Hong Kong stocks have become an important platform for financing domestic tech companies, with ample liquidity
• Policy support and market recognition create favorable conditions for corporate financing

It is important to note that while the scale of financing and market enthusiasm reflect industry prospects, the ultimate success depends on the companies’ product competitiveness and market share. As Baidu’s core chip asset, the performance of the ARM listing will directly reflect investor confidence in Baidu’s AI chip strategy.

Summary

Baidu ARM’s plan to raise $2 billion in Hong Kong IPO is an important signal of the domestic AI chip financing boom. This indicates that domestic chip substitution has moved from conceptual to the stage of financing and industrialization, with market demand and recognition continuing to grow. Hong Kong stocks have become the main platform for these companies’ financing. With the successive listings of Kunlun Chip, Bairen Technology, and others, Baidu’s layout in the AI chip field is gradually taking shape. Future focus should be on these companies’ post-listing performance and their actual market share in domestic substitution.