According to a report by The South China Morning Post, after reports that the Hong Kong-listed Chinese short-video platform Kuaishou Technology plans to spin off its Kling AI video generation business, Kuaishou Technology’s share price rose to 10% at one point on May 12. The company is seeking to raise $2 billion at a $20 billion valuation, and is reportedly in talks with investors including Tencent. Kling has reached an annualized revenue run rate of $500 million.

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