After Tencent joins $2.8 billion raise for Kling AI subsidiary, Kuaishou shares jump

TL;DR

Kuaishou shares hit over one-week high after Kling AI secures $2 billion funding Kuaishou Technology shares rose nearly 7% Friday before trimming gains, after the company announced a capital injection of nearly $2.8 billion into its artificial intelligence subsidiary, Kling AI, with backing from tech giant Tencent. The Beijing-based short video platform disclosed the funding details in a regulatory filing released after the market closed on Thursday. The company was targeting a $15 billion valuation from the raise, Bloomberg reported.