Chinese tech giant Baidu reportedly plans to launch an AI chip company

Baidu is reportedly planning to launch a subsidiary AI chip firm, which could boost China‘s efforts to develop a domestic semiconductor industry. CNBC reports that the search giant is in talks with venture capital firms GGV and IDG Capital about investing in the venture. The company would sell chips to customers in various industries, including automakers, and could also support Baidu’s work on electric and autonomous vehicles. A source told CNBC that Baidu would likely be the majority shareholder of the subsidiary. [Read: How Polestar is using blockchain to increase transparency] The news comes as China pushes to strengthen its homegrown…

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