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Kuaishou-affiliated Kling AI plans to raise $3.0 billion at a $18.0 billion valuation and intends to list in Hong Kong.

MarsBitNews
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Abstract generation in progress
Mars Finance News, according to the South China Morning Post citing insiders, Kling AI, a spin-off AI video generation startup from Kuaishou, is about to complete a $3 billion financing round, with a post-investment valuation of $18 billion. Tencent participated in this round of investment. It is reported that the final valuation is lower than the initial target of $20 billion set in April this year. Insiders further pointed out that with the annual recurring revenue surging due to the release of the latest AI video model, Kling AI plans to initiate its Hong Kong listing process within the next 12 months. The funds raised this time and future IPO proceeds will be primarily used for infrastructure construction such as computing power and data centers, as well as talent recruitment and retention.
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