Hong Kong · China · Crypto Briefing
Kuaishou files for $3 billion Kling AI funding round in Hong Kong, eyes IPO within 12 months
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Chinese short-video giant is spinning off its AI video-generation unit with backing from General Atlantic and Tencent at an $18 billion valuation.
Key facts
- The 10% markdown from $20 billion to $18 billion already hints at some air coming out of initial expectations
- Chinese short-video giant is spinning off its AI video-generation unit with backing from General Atlantic and Tencent at an $18 billion valuation
- Back in April, Kuaishou was shopping Kling AI at a $20 billion valuation
- Kuaishou Technology, the Chinese short-video platform that trades on the Hong Kong Stock Exchange under the ticker 1024, is pulling one of the more ambitious moves in the AI funding landscape
Summary
Kuaishou Technology, the Chinese short-video platform that trades on the Hong Kong Stock Exchange under the ticker 1024, is pulling one of the more ambitious moves in the AI funding landscape this year. That $18 billion number represents a downward revision. Kling AI specializes in text-to-video generation. Kuaishou isn’t raising money.