Kuaishou's Kling AI to Complete $3 Billion Financing
Kuaishou's AI video generation business, Kling AI, will complete a $3 billion (approximately 20.38 billion RMB) financing round. Tencent participated in this round, with a post-investment valuation of $18 billion, down $2 billion from the previous target of $20 billion. Kuaishou expects to initiate Kling AI's Hong Kong IPO within 12 months, with funds raised to be used for computing power construction and talent acquisition. Kling AI's annualized revenue has exceeded $300 million, with Q1 revenue of $75 million, mainly from overseas markets.
Kuaishou's AI video generation business, Kling AI, will complete a $3 billion (approximately 20.38 billion RMB) financing round. Tencent participated in this round, with a post-investment valuation of $18 billion, down $2 billion from the previous target of $20 billion. Kuaishou expects to initiate Kling AI's Hong Kong IPO within 12 months, with funds raised to be used for computing power construction and talent acquisition. Kling AI's annualized revenue has exceeded $300 million, with Q1 revenue of $75 million, mainly from overseas markets.
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