Kuaishou Technology has secured 19 billion yuan ($2.8 billion) for its AI video generation unit, Kling AI, valuing the business at $15 billion before the investment. The funding round, which aims to raise a total of $3 billion, is the largest ever for an AI video model developer.
This significant funding round underscores the growing investment and commercialization potential in the AI video generation sector, positioning Kling AI as a major global player.
Kuaishou Technology has secured 19 billion yuan ($2.8 billion) for its artificial intelligence (AI) video-generation unit, Kling AI, in a funding round that values the business at $15 billion before the investment. The financing, which remains open to additional investors, aims to raise a total of $3 billion in exchange for a 16.7% stake in the business. Kuaishou stated the round is the largest ever completed by a developer of AI video models globally, marking the formal launch of Kling AI as an independently commercialized business. The proceeds will be used for business expansion, operations, working capital, and team building.
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