Tencent Holdings, Alibaba, and Baidu participated in a significant funding round for the AI video-generation startup Kling AI. The investor consortium will inject over 19 billion yuan ($2.80 billion) into the platform.
Kuaishou Technology is spinning off the startup as part of the financing deal. The investment values Kling AI at approximately $15 billion on a pre-money basis.
This transaction represents one of the largest financing rounds in China’s generative AI sector. Chinese tech giants are increasing investments to compete with U.S. counterparts like OpenAI’s Sora.
The move signals strong industry confidence in the future of AI-generated content. Potential applications for the technology span the enterprise, advertising, and entertainment sectors.