Kuaishou's Kling AI closed RMB 19.8B ($2.9B) in the largest single AI video financing, with Alibaba, Tencent and Baidu on the cap table. Kling Q2 revenue topped RMB 850M, up over 200% YoY, and Kling 4

What happened: Kuaishou announced that all conditions of the capital increase agreement for its video generation unit Beijing Keling were met, all investors paid in full, and the share purchase closed. Key numbers: Total investor contributions about RMB 19.80184 billion (about USD 2.90533 billion). Lucky Labs holds 66.68% equity and 52.45% voting rights. Alibaba holds 1.38%, Tencent's Shanghai Qishan 0.56%, Baidu 0.28%. Why it matters: Keling is described as one of Kuaishou's strongest businesses, and the closing brings major internet companies and state-backed funds in as shareholders.

Kuaishou announced that all conditions of the capital increase agreement for its video generation unit Beijing Keling were met, all investors paid in full, and the share purchase closed.

Keling is described as one of Kuaishou's strongest businesses, and the closing brings major internet companies and state-backed funds in as shareholders.