Kuaishou spins off Kling AI with $3B raise from Tencent and Alibaba

Pandaily reports that Chinese short-video giant Kuaishou is spinning off its Kling AI video generation unit into an independent company and backing it with a funding round of up to $3 billion. Tencent, Alibaba and Baidu are named as key investors, and the new entity reportedly faces a mandatory IPO deadline in 2031.