Kling AI, the video-generation division of Kuaishou Technology, is preparing for an initial public offering in Hong Kong. The company aims to raise at least $1 billion through the listing, which is targeted for early 2027. CICC, Goldman Sachs, and UBS have been selected as underwriters for the transaction.
The planned IPO follows a significant funding round in July 2026, where the unit raised approximately $2.8 billion, reaching a valuation of $18 billion. Investors in this round included Tencent, Alibaba, and Baidu. Following the financing, the stake held by parent company Kuaishou is expected to be diluted to approximately 68%.
The unit has demonstrated rapid financial growth, with revenue exceeding RMB 850 million in the second quarter of 2026, representing a year-on-year increase of over 200%. Additionally, the annualized revenue run rate reached roughly $500 million by March 2026, up from $240 million in December 2025.
In September 2026, the company released Kling 4.0, an update that enables the creation of video clips up to 30 seconds long. As part of a restructuring plan filed in May 2026, the company consolidated its assets into Beijing Keling. Investors hold repurchase rights if the company fails to go public by October 30, 2031.
