Kling has raised $2.8 billion from investors. "Kling Raises $2 Billion Amid Planned Spinoff From Kuaishou," at 0242 GMT, incorrectly said it had raised $2.04 billion.

The Kuaishou Technology spin-off aims to start Hong Kong listing process within a year, as annual recurring revenue soars following latest AI video model release.

Kuaishou's Kling AI seeks over $2 billion at an $18 billion valuation led by General Atlantic, highlighting the divergence between traditional AI and crypto