Kling AI is about to secure a major cash injection, aiming for US$3 billion to boost financial strength . This funding will likely push company’s value to around US$18 billion once the deal's done, as competition heats up in China's AI-driven video tech market.
Initially, Kling AI aimed for a US$20 billion valuation. But that target was lowered after Kuaishou announced Kling AI's split from its parent company in April . Shows how market's shifting, investors getting cautious . And Tencent, big player in gaming and social media,is among those backing this funding round.
In a recent filing to the Hong Kong stock exchange, Kuaishou revealed it's looking at restructuring Kling AI, maybe bringing in new investors. Plan is to start process for getting Kling AI listed on Hong Kong exchange next year.
Funds from this round will strengthen Kling AI's computing power and data infrastructure,with a focus on hiring and keeping talent . As of latest close,Kuaishou shares stood at HK$41.60 (about US$5.30),up 1.46 percent. No comments from Kuaishou,Kling AI, or Tencent on these moves…
