Kuaishou Technology’s AI video unit Kling AI is planning a Hong Kong initial public offering targeting early 2027 to raise at least $1 billion. The company has appointed CICC, Goldman Sachs and UBS as underwriters. In July 2026, Kling AI had already raised approximately $2.8 billion in a private funding round valuing the unit at $18 billion. Second-quarter 2026 revenue exceeded RMB 850 million, representing over 200% year-on-year growth, while annualized recurring revenue reached roughly $500 million by March 2026. Tencent, Alibaba and Baidu participated in the funding round, with Kuaishou’s stake expected to be diluted to approximately 68% following the spinoff.
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