Kuaishou’s Kling AI reportedly picks banks for Hong Kong IPO targeting at least $1 billion

What happened: Kling AI, Kuaishou's AI video-generation business, has picked banks for a potential Hong Kong IPO that could raise at least $1 billion, per Bloomberg. A listing is targeted for as early as 2027. Key numbers: At least $1 billion targeted raise. Banks: CICC, Goldman Sachs, UBS. July round: $2.8 billion raised, pre-money valuation about $15 billion. Why it matters: The reported plans follow a July round backed by Alibaba, Tencent and Baidu. Discussions are ongoing, so the amount and timetable could change. Goldman Sachs and UBS declined comment; Kling AI and CICC did not respond.

Kling AI, Kuaishou's AI video-generation business, has picked banks for a potential Hong Kong IPO that could raise at least $1 billion, per Bloomberg. A listing is targeted for as early as 2027.

The reported plans follow a July round backed by Alibaba, Tencent and Baidu. Discussions are ongoing, so the amount and timetable could change. Goldman Sachs and UBS declined comment; Kling AI and CICC did not respond.