Kuaishou's Kling AI seeks first pre-IPO financing for US$18 billion pre-money valuation

Kuaishou's (1024) video generation model, Kling AI, is conducting its first pre-initial public offering financing since its spin-off, with a US$18 billion (HK$140.4 billion) pre-money valuation, mainland media reported.

The company aims to submit listing application materials for a Hong Kong IPO in early 2027. Kuaishou's shares fell 4.6 percent to HK$46.74 at market close on Wednesday.

Kuaishou reportedly planned to spin off Kling AI at a US$20 billion valuation in May, raising US$2 billion, though the deal has not yet been finalized. If completed, Kling AI would become the highest-valued independent video generation model product globally.

Subsequently, Kuaishou responded to media reports that it was seeking external financing and an independent listing for its Kling AI assets. It said it is considering a reorganization plan involving external funding, but the plan is still in early stages with no final agreements, and its future is uncertain.
 

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