Kling Raises $2 Billion Amid Planned Spinoff From Kuaishou

Kuaishou Kling has raised around $2 billion from investors, as the short-video company seeks to spin off and list its artificial-intelligence video unit.

Venture capitalists and other investors have injected 13.82 billion yuan, or $2.04 billion, into Kling, Kuaishou said late Thursday. Additional investors could still join this funding round, potentially taking the total investment as much as $3 billion, it added. Kuaishou’s stake in Kling could fall to as low as 68.33% after the capital injection.