Kuaishou's video generation spin-off, Kling AI, is raising its first pre-IPO round since being carved out of the parent company. The round values the startup at $18 billion pre-money, according to sources. The company is reportedly targeting an initial filing with the Hong Kong Stock Exchange in early 2027, setting the stage for what could be the first publicly traded company focused exclusively on video generation models.
To put that valuation in perspective: Kuaishou's own market cap closed at about $27.4 billion on June 2nd. Kling AI's $18 billion price tag represents 66% of its parent's value — a sign that private investors are betting big on the video generation unicorn. None of Kling's domestic or international competitors have announced plans to spin off their video models, which means Kling could become the world's first standalone video model company to go public.
On the revenue and subscriber front, the business is seeing explosive growth. Kuaishou hasn't disclosed specific numbers, but the trajectory clearly impressed early investors.