Kuaishou Shares Rise 10% on Kling AI Spin-off Plans, Eyes $2B Raise

According to South China Morning Post, Kuaishou Technology shares rose as much as 10% on May 12 after reports that the Hong Kong-listed Chinese short-video platform plans to spin off its Kling AI video generation unit. The company is seeking to raise US$2 billion at a US$20 billion valuation, with talks reportedly underway with investors including Tencent. Kling has reached an annualized revenue run rate of US$500 million.
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