Kling Raises $2B at $18B Valuation and Eyes Hong Kong IPO
Kuaishou has spun out AI video platform Kling at an $18B valuation, raised $2B from Tencent and four funds, and is preparing to list on the Hong Kong Stock Exchange. Kling 3.0 competes with Google Veo 3.1 and ByteDance Seedance.
Chinese company Kuaishou raised $2.04 billion (13.82 billion yuan) for its AI video platform Kling. The round is led by CPE, Guofang Investment, BlueFive, Tencent, and Citic Securities. The round could grow to $3 billion at close; upon completion, Kuaishou will retain a 68.33% stake in the company. Kling's current valuation stands at $18 billion.
Hong Kong IPO and Competitors
Kling is preparing for a spin-off and listing on the Hong Kong Stock Exchange, making it part of a growing wave of Chinese AI companies queuing up for Hong Kong IPOs. The platform competes with Google Veo 3.1, Runway Gen-4.5, and ByteDance Seedance. Kling recently released version 3.0 of its model.
The AI video market has transformed over the past year from a niche tool into a full-blown investment sector with billion-dollar valuations. Several Chinese players are heading to public markets simultaneously — a signal that the generative video race is shifting from a technical contest to a financial one, and the next 12 months will reveal whose model survives open competition with Western platforms.
Source: the-decoder.com
Free course
Stop reading about AI — start building with it
The free Claude Code course: your first site, tool or game — no coding. No upsells, no cross-sells — nothing to buy here.
Start free →
Author
Evgenii Arsentev
PhD · Chief Executive Officer, digital health
Articles · Latest articles