Kuaishou's Kling AI Raises $2.8 Billion Backed by Alibaba and Tencent
Kuaishou Technology disclosed a $2.8 billion capital injection into Kling AI, its artificial intelligence video generation spinoff, backed by Tencent and Alibaba Group. The Beijing-based short-video platform announced the funding details in a regulatory filing released after the Hong Kong market closed Thursday.
Kuaishou's shares climbed nearly 7% Friday morning before trimming gains. Trade publication Traded VC reported the financing values Kling AI at $15 billion prior to the capital injection. Kling AI operates out of Singapore and competes with video-generation models from rivals including ByteDance and Shengshu, following a ramp in annual recurring revenue to roughly $500 million after the launch of its Kling 3.0 model.
From the sources (7 posts)
@businessChina’s Kling AI has raised an initial $2 billion in venture capital funding as the spinoff from Kuaishou Technology seeks to expand its video AI operations.
@polymarketJUST IN: China’s Kling AI raises $2,000,000,000.00 to expand its AI video operations.
@mtsliveSITUATION DETECTED: China's Kling AI, a video generation startup, has raised $2B in an initial funding round, per Bloomberg.
@cnbcKuaishou Technology shares rose nearly 7% Friday before trimming gains, after the company announced a capital injection of nearly $2.8 billion into its artificial intelligence subsidiary, Kling AI, with backing from tech giant Tencent. The
@firstsquawkKUAISHOU FILES FOR US$3 BILLION KLING AI FUNDING ROUND IN HONG KONG-SCMP
@tradedvcKling AI, the AI video generation spinoff from Kuaishou Technology, has raised an initial $2 billion in venture capital funding to expand its AI video operations, with the round potentially growing to about $3 billion as additional investor
@reutersAlibaba, Tencent back Kuaishou's Kling AI in $2.8 billion fundraise