Kling AI, the AI video-generation arm of Kuaishou, has picked banks for a potential Hong Kong initial public offering that could bring in at least $1B, Bloomberg reported on October 6, citing people familiar with the plans. A debut could land as early as 2027.
China International Capital Corp., Goldman Sachs and UBS are the banks said to be working on the deal. Talks are still under way, and both the size and the schedule could shift. Goldman Sachs and UBS declined to comment, while Kling AI and CICC did not respond to requests for comment.
The listing would cap a fast climb. In July, Kling AI raised $2.8B at a pre-money valuation near $15B, with Tencent, Alibaba and Baidu among the backers – a deal that made it one of China’s most valuable standalone AI video businesses.
Video generation is one of the few AI categories where Chinese labs hold clear leadership, and Kling has been the most visible commercial beneficiary. It sells generation capacity to creators and enterprises rather than leaning on a consumer subscription alone.
A Kling debut would extend a busy run for Hong Kong’s exchange, the default venue for Chinese tech firms seeking public capital. RISC-V chipmaker ESWIN Computing began trading there this week, and AI developer Z.AI has been raising in the same market. For Kuaishou, spinning out Kling crystallizes value that the parent’s short-video business sometimes obscured; for investors, it offers a rare pure play on AI video at scale.
