Key facts
- Kuaishou Technology secured 19 billion yuan for its AI video unit, Kling AI.
- The funding raised amounts to $2.8 billion.
- Kling AI was valued at $15 billion before the investment.
- The funding round aims to raise a total of $3 billion.
- This is the largest funding round ever for an AI video model developer.
Kuaishou Technology has successfully secured 19 billion yuan, equivalent to $2.8 billion, for its artificial intelligence video generation subsidiary, Kling AI. This funding round values the business at $15 billion prior to the investment. The company's objective is to raise a total of $3 billion, a target that, if met, would establish this as the largest funding round ever for a developer of AI video models. The substantial capital infusion is expected to significantly enhance Kling AI's technological development and competitive standing within the burgeoning AI video sector. This move underscores Kuaishou's commitment to advancing its AI capabilities and expanding its presence in generative AI technologies.