Chinese tech giant Kuaishou's AI video unit, Kling AI, has secured over 19 billion yuan ($2.80 billion) in funding from investors including Alibaba and Tencent. This significant investment values the popular AI video arm at $15 billion pre-money, highlighting strong investor confidence in China's booming AI sector. Kling AI's revenue quadrupled year-on-year in the March quarter, signaling robust growth.

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