Kuaishou’s AI video unit Kling AI has closed a fundraising round of nearly $3 billion, backed by Alibaba, Tencent and Baidu, at an $18 billion post-money valuation
Kling AI’s first-quarter revenue hit 650 million yuan ($96 million), up over 300% year on year, with its annualised run rate reaching $500 million in March
The round arrives weeks after OpenAI shut down Sora’s consumer app and Runway pivoted away from commercial video, leaving Kling AI as one of the few AI video players with real revenue behind its valuation
OpenAI shut down the consumer version of Sora in April 2026 after it burned through roughly a million dollars a day in compute against just $2 million in total revenue. In the same window, China’s Kling AI was quadrupling its own revenue. Now Alibaba, Tencent and Baidu are betting nearly $3 billion that it can keep doing that at scale.
Kuaishou Technology disclosed in a Hong Kong exchange filing on July 2, 2026, that investors have committed over 19 billion yuan ($2.8 billion) to Kling AI at a $15 billion pre-money valuation, with the round capped at 20.45 billion yuan, or roughly $3 billion, once remaining investors join.
