Quick Hand's Kelin AI plans to raise US$3 billion at a valuation of US$18 billion and plans to list in Hong Kong

According to the South China Morning Post quoted people familiar with the matter, KlingAI, an AI video generation startup spun off by Quick Hand, is about to complete a US$3 billion financing, with a post-investment valuation of US$18 billion. Tencent participated in this round of investment. It is reported that the final valuation is lowered from the preliminary target of US$20 billion set in April this year.<br /> People familiar with the matter further pointed out that with the release of the latest AI video model driving a surge in annual recurring revenue, Kline AI plans to launch the Hong Kong listing process in the next 12 months. The funds raised this time and future IPO revenue will be mainly used for infrastructure construction such as computing power and data centers, as well as the recruitment and retention of talents.