Keling with a valuation of over 100 billion yuan plans IPO next year – Have BAT's joint efforts brought a breakthrough to the commercialization of AI video generation?
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Keling has taken a step closer to its initial public offering. Recently, Bloomberg reported that Keling AI, Kuaishou's video generation business, plans to list on the Hong Kong Stock Exchange as early as 2027, raising at least 1 billion US dollars. The three institutions CICC, Goldman Sachs, and UBS are acting as the underwriting sponsors for Keling's IPO in Hong Kong. As early as May of this year, news about Keling's spin-off and IPO emerged. In July, Keling officially announced a restructuring and kicked off the independent financing process. This financing round amounts to up to 3 billion US dollars, with investors such as Tencent, Alibaba Cloud, Baidu, the National AI Industry Investment Fund, and Zhengda Robot participating step by step. Based on calculations of public data on capital increases and share expansions at the end of August, Keling's valuation is approximately 122.8 billion yuan, thus exceeding the current market value of its parent company Kuaishou (whose latest market value is 110.4 billion yuan as of the close of trading on October 9). It seems that the era of large AI models for video generation has truly arrived. The commercial model of AI video generation is clear: in the C-end market, it targets the general public, allowing everyone to become a director, screenwriter, and actor through the video generation model and bring the imagination in their...
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