FUNDING~$2.8B spinoff roundKuaishou Spins Off Kling AI in Record $2.8B Round, Setting Up Hong Kong IPOKuaishou Technology's video-generation subsidiary Kling AI closed roughly $2.8 billion in spinoff financing at an $18 billion post-money valuation, with rivals Alibaba, Tencent and Baidu all buying into the round ahead of a planned Hong Kong listing.Jul 3, 2026