Kuaishou files US$3 billion Kling AI funding round to Hong Kong stock exchange

Kuaishou's artificial intelligence video arm, Kling AI, is seeking to raise approximately US$3 billion in its first external fundraising round. This information was disclosed in a filing to the Hong Kong Exchanges and Clearing on Thursday evening. The funding round, initially reported on Wednesday, has attracted a diverse group of investors. These include major Chinese technology companies such as Baidu, Alibaba's cloud unit, and Tencent. Additionally, state-backed investment vehicles, including the Beijing Information Industry Development Investment Fund and the Beijing Artificial Intelligence Industry Investment Fund, are participating. Entertainment industry participants are also involved in this significant funding effort.