Chinese short video platform Kuaishou announced on Thursday that its AI video subsidiary, Kling AI, is aiming to raise approximately $3 billion in its inaugural external funding round, as per a filing with the Hong Kong Exchanges and Clearing.
The funding round, initially reported by the South China Morning Post on Wednesday, attracted a diverse group of investors, including leading Chinese tech companies, state-sponsored investment funds, and entertainment industry players. Investors include major tech firms such as Baidu, Alibaba’s cloud division, and Tencent, alongside state-backed entities like the Beijing Information Industry Development Investment Fund and the Beijing Artificial Intelligence Industry Investment Fund.
Additional supporters include media and entertainment companies like Huace Film & TV and Mango Investment, reflecting growing adoption of AI video technologies in the sector.
This financing round represents the largest investment to date for an AI video model company, as global competition in this space intensifies.
