Kling AI closes approximately RMB 19.8 billion financing
Kuaishou announced that the independent financing of its Kling AI video-generation business had closed, with investors paying approximately RMB 19.80184 billion, equivalent to about US$2.90533 billion. The final amount was below the original RMB 20.447 billion cap because Dalking Five and BFI MIDCO failed to complete their remaining payments and exited the investment. Investors included Alibaba Cloud, Tencent, Baidu, state-backed funds, and other institutional participants.
The transaction is a major AI financing involving major internet companies and state-backed funds, while the termination of two planned investors explains why the closed amount fell below the original cap.
#Kuaishou#Kling AI#Beijing Kling#Alibaba Cloud#Tencent#Baidu#Shanghai Guofang Digital Technology#National AI Industry Investment Fund#Dalking Five#BFI MIDCO