Kling AI completes $2.9 billion financing at an $18 billion valuation
The AMW Read
The closing confirms a previously reported deal, while the $2.905 billion raise and $18 billion valuation are significant for generative video.
Kling AI completes $2.9 billion financing at an $18 billion valuation
Kuaishou said its Kling AI business completed a capital increase, receiving RMB 19.802 billion, or about $2.905 billion, at a post-money valuation of approximately $18 billion. The deal closed by the end of October, and all participating investors completed payment, according to the company announcement cited by Guandian. The final amount was about RMB 645 million below the original fundraising ceiling. The announcement adds a precise payment figure to AI Market Watch's October 31 coverage of the closing.
The financing places a substantial valuation on a generative video business as competition extends beyond model demonstrations to commercial distribution. Kling 4.0, released on October 15, supports video generation using multiple reference assets and can generate clips of up to 30 seconds. Kuaishou said the model would be available through an API to enterprise customers and developers. Kuaishou also reported that Kling's second-quarter revenue exceeded RMB 850 million, up more than 200% year over year. Those figures describe reported sales growth, but they do not establish profitability or independent product performance.
For investors and builders, the practical question is whether revenue growth and enterprise API adoption can support the valuation as video generation becomes more competitive. The disclosed revenue provides a starting point for tracking commercial progress, while the financing terms show how much capital has been committed. The source does not disclose Kling's costs or enterprise customer count, so it cannot establish margins or the contribution from API sales.
