Kuaishou’s Kling AI reportedly picks banks for Hong Kong IPO targeting at least $1 billion

Kling AI, Kuaishou’s AI video-generation business, has selected banks for a potential Hong Kong initial public offering that could raise at least $1 billion, Bloomberg reported on October 6, citing people familiar with the plans. The company is working with China International Capital Corp., Goldman Sachs and UBS, with a listing targeted for as early as 2027. Discussions remain ongoing, and the fundraising amount and timetable could change. Kling AI raised $2.8 billion in July in a round backed by investors including Alibaba, Tencent and Baidu, at a pre-money valuation of about $15 billion. Goldman Sachs and UBS declined to comment on the IPO plans, while Kling AI and CICC did not respond to Bloomberg’s requests for comment. [Bloomberg, in Chinese]