Chinese search giant Baidu is in talks to raise money for a standalone artificial intelligence semiconductor company, a person with knowledge of the matter told CNBC.
The semiconductor business would aim to sell to chips to customers in various industries including automakers.STR | AFP | Getty Imagesis in talks to raise money for a standalone artificial intelligence semiconductor company, a person with knowledge of the matter told CNBC. Baidu's chip company would be a subsidiary, with the search giant likely to be the majority shareholder, the person said. Venture capital firms GGV and IDG Capital are involved discussions to invest in Baidu's chip firm, the source added. Both firms have extensive investments in China.
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Not good news. CCP has too much access to Chinese company data.