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

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