Kuaishou Technology’s Kling AI unit is in advanced discussions to raise over $2 billion in what would be its first external funding round, with General Atlantic positioned to lead the effort. The deal would value the Chinese video generation AI company at roughly $18 billion post-money.
Kling originally wanted a $20 billion valuation, but adjusted expectations downward to better align with investor sentiment ahead of a potential IPO targeted for early 2027. The funding round also serves to facilitate a spin-off from Kuaishou, transforming Kling into a more autonomous entity. Kuaishou began laying the groundwork for this restructuring as early as May 2026.
The numbers behind the hype
By December 2025, Kling AI had reached an annualized revenue run rate of $240 million, with growth reportedly continuing into 2026.
General Atlantic leading the round is notable in itself. The firm manages over $80 billion in assets.
