According to Zhidx, South China Morning Post reported on July 1, citing people familiar with the matter, that Kuaishou’s video generation business Keling AI is set to complete a significant funding round. 3 billion dollars (approximately RMB 20.38 billion). The appraised value after investment is $18 billion (approximately RMB 122.3 billion), a decrease of $2 billion from the target valuation of $20 billion originally set in April this year. tencent We participated in Keling AI’s latest funding round.
The report said Keling AI is accelerating independent financing and subsequent listing arrangements as competition in China’s AI video generation market intensifies. According to people familiar with the matter, Kering AI’s latest valuation has been revised downward compared to the previous target value to reflect changes in market expectations for Kering AI.
Kuaishou had previously disclosed related measures. On May 12, Kuaishou announced on the Hong Kong Stock Exchange that it is considering a proposed restructuring of its Keling AI business, which may involve raising capital through the introduction of external investors.
Regarding the listing, a person close to the transaction said Kuaishou plans to begin the process of listing Keling AI in Hong Kong. within the next 12 months. The funds raised through the IPO will be used to build computing power and data centers, and to hire and retain talent.
Keling AI is Kuaishou’s core business in the field of AI video generation.
In March of this year, Kuaishou launched “Keling AI” Annual revenue of over $300 million According to people familiar with the matter, Keling AI’s revenue in the first quarter of this year was $75 million (about 509 million yuan), most of which came from overseas markets, including North America.
As of the close of the Hong Kong stock market, Kaisho’s share price was reported to have increased by 1.46% to HK$41.6 (approximately RMB 36), with a market capitalization of approximately HK$179.999 billion (approximately RMB 155.92 billion). “Keling AI” is currently valued at $18 billion That’s about 78% of Kuaishou’s market value.
Kuaishou stock price (Source: Tencent Stock Selection)
Conclusion: Keling AI may take the lead in AI video IPO
From the news of spin-off funding in May of this year to now nearly completing $3 billion in funding, Keling AI’s capitalization process has become increasingly clear. Although the latest valuation has been adjusted downward compared to the previous target of $20 billion, the post-investment valuation of $18 billion means Keling AI has become one of the most valuable independent projects in the domestic AI video generation market.
For Kuaishou, Keling AI’s spinoff funding and potential listing is also an important attempt to reassess the value of its AI assets outside of its main short video business.
This article is from WeChat official account “Zhidx” (ID:zhidxcom), written by Jiang Yu, edited by Yun Peng. Published with permission from 36Kr.
