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Kuaishou’s Kling AI plans Hong Kong IPO as early as next year, seeks $1bn
Коротко
Kling AI, Kuaishou’s AI video service, plans to list in Hong Kong as early as next year, according to CLS, IT Home and 36Kr. IT Home reported the IPO could raise at least $1 billion and that CICC, Goldman Sachs and UBS have been selected as underwriters, while noting the terms may still change.
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Kling AI, an AI video service owned by Kuaishou Technology, plans to list in Hong Kong as early as next year and aims to raise at least $1 billion, according to reports from CLS, IT Home and 36Kr. IT Home, citing Bloomberg and people familiar with the matter, said Kling AI has selected China International Capital Corporation, Goldman Sachs Group and UBS Group to prepare a potential share offering. The people said discussions are still ongoing and that the fundraising size and listing timetable could still change. 36Kr, citing CLS, also reported the earliest-next-year timetable and the minimum $1 billion fundraising target. [ 1 , 2 , 3 ]
IT Home reported that Kling AI was founded in 2024 and is seeking commercialization in China’s AI-generated video sector. The report said the company hopes to fill a market gap after OpenAI ended the Sora project. In July, Kling AI completed a $2.8 billion financing round with investors including Alibaba, Tencent and Baidu, IT Home said; after the round, its pre-money valuation was about $15 billion. The report relied on people familiar with the matter and did not cite a company statement or official confirmation of the IPO plan. [ 2 ]
The reports come as AI-related transactions are driving a recovery in Hong Kong’s IPO market, even though the local stock market has weakened, according to IT Home. The outlet said AI-related deals pushed third-quarter new-share fundraising to a record high. Kling AI competes with ByteDance’s Seedance, Shengshu Technology and PixVerse, IT Home reported, adding that Shengshu and PixVerse also plan Hong Kong IPOs. Kuaishou itself is listed in Hong Kong and its market value has more than halved this year, the report said. [ 2 ]
Почему это важно
A Hong Kong listing by Kling AI would test investor appetite for Chinese AI video companies and could be one of the larger tech offerings in the city, based on the reported $1 billion target. IT Home reported that AI-related deals are helping Hong Kong’s IPO market recover even as the local stock market is weak, so the outcome may signal how receptive investors are to AI listings. Competitors including Shengshu Technology and PixVerse also plan Hong Kong IPOs, according to IT Home, suggesting a cluster of AI video listings.
Ключевые факты
- Kling AI, a Kuaishou-owned AI video service, plans to list in Hong Kong as early as next year, according to reports from CLS, IT Home and 36Kr. [ 1 , 2 , 3 ]
- The planned IPO aims to raise at least $1 billion, according to IT Home and 36Kr. [ 2 , 3 ]
- IT Home, citing Bloomberg and people familiar with the matter, reported that CICC, Goldman Sachs and UBS have been selected to work on the potential offering. [ 2 ]
- IT Home reported that discussions are ongoing and that the fundraising size and listing timetable may still change. [ 2 ]
- IT Home reported that Kling AI was founded in 2024 and completed a $2.8 billion financing round in July with investors including Alibaba, Tencent and Baidu. [ 2 ]
- IT Home reported that Kling AI competes with ByteDance’s Seedance, Shengshu Technology and PixVerse, and that Shengshu and PixVerse also plan Hong Kong IPOs. [ 2 ]
Подтверждено несколькими источниками
Пока неясно
- The exact fundraising amount, listing timetable and underwriters for the IPO. IT Home says discussions are ongoing and details may change, and the reports rely on unnamed people rather than a company announcement.
- Whether OpenAI has terminated the Sora project and whether Kling AI can fill that market gap. Only IT Home mentions this context, and no other document confirms it.
- Kling AI’s July financing round, its investors and its reported $15 billion pre-money valuation. Only IT Home reports these details, with no corroboration in the other documents.
- The identity of the selected underwriters. Only IT Home names CICC, Goldman Sachs and UBS, citing people familiar with the matter; no official announcement is cited.
Что пишут местные СМИ
Хронология, местное время
- CLS reports that Kling AI plans to list in Hong Kong as early as next year. [ 1 ]
- IT Home reports that Kling AI has selected CICC, Goldman Sachs and UBS for a potential Hong Kong IPO aiming to raise at least $1 billion, citing Bloomberg and people familiar with the matter. [ 2 ]
- 36Kr, citing CLS, reports the plan for a Hong Kong listing as early as next year with at least $1 billion in fundraising. [ 3 ]