Kuaishou's AI Unit Kling AI Selects Banks for Hong Kong IPO
Kuaishou's AI video-generation unit, Kling AI, has reportedly selected banks for a potential Hong Kong IPO. The offering aims to raise at least $1 billion.
Kling AI, the artificial intelligence video-generation business owned by Kuaishou, has reportedly chosen financial institutions to manage a potential initial public offering in Hong Kong. The listing is expected to target raising at least $1 billion, according to people familiar with the matter.
The company is working with China International Capital Corp., Goldman Sachs, and UBS on the potential listing. A target for the IPO has been set for as early as 2027. Discussions are ongoing, and the fundraising amount and timeline are subject to change.
Kling AI recently secured $2.8 billion in a funding round in July, with participation from investors including Alibaba, Tencent, and Baidu. The company achieved a pre-money valuation of approximately $15 billion during that round.
Representatives for Goldman Sachs and UBS declined to comment on the IPO plans. Kling AI and CICC did not respond to requests for comment. The move reflects significant investor interest in AI-driven media technologies and the capital required for their development and scaling.