BEIJING, March 15 (Reuters) - Chinese search giant Baidu Inc said on Monday that its artificial intelligence chip unit Kunlun recently completed a round of fundraising, which according to one source with direct knowledge of the matter values the business at about $2 billion.
The fundraising, which comes as the company pushes forward with AI chip design and manufacturing ambitions, was led by Chinese private equity firm CITIC Private Equity Funds Management $(CPE)$, the source said. Other investors include IDG Capital, Legend Capital and an industry fund Oriza Hua, the person added.
"Kunlun chip business has recently completed a round of financing. We will release more information in due course," Baidu said in a statement sent to Reuters on Monday, declining to comment on the investors, fundraising amount or valuation.
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