Kuaishou Shares Jump on $2.79 Billion Kling AI Raise as Tencent Invests $200 Million
Updated
Updated · CNBC · Jul 3
Kuaishou Shares Jump on $2.79 Billion Kling AI Raise as Tencent Invests $200 Million
3 articles · Updated · CNBC · Jul 3
Summary
Kuaishou shares climbed as much as 6.89% in Hong Kong after the company disclosed a 19 billion yuan ($2.79 billion) capital injection into AI unit Kling AI, though the stock later closed down 0.09% at HK$42.60.
Tencent is contributing $200 million to the round, which Bloomberg said targeted a $15 billion valuation for Kling AI and will dilute Kuaishou's stake to 68%.
The financing also drew 21 independent investors, underscoring strong demand for Chinese AI video-generation platforms as Kling pushes growth beyond its home market.
Kling AI launched in June 2024 and says it now reaches more than 60 million creators globally, giving Kuaishou a larger AI foothold alongside its 700 million monthly active users.