Kuaishou's Kling AI Taps CICC, Goldman, UBS for $1B+ HK IPO

Kuaishou's AI video unit Kling has lined up China International Capital Corp., Goldman Sachs and UBS to lead a Hong Kong listing aimed at raising at least $1 billion, with the float targeted as soon as next year, Bloomberg reported.

In July, Kling closed a $2.8 billion funding round at a pre-money valuation of around $15 billion, with investors including Alibaba, Tencent and Baidu. The three underwriters are "working with China International Capital Corp., Goldman Sachs Group Inc. and UBS Group AG on the potential share sale," per Bloomberg, which adds that Kling is "targeting a listing as soon as next year."

Bloomberg frames the push as part of a batch of Chinese AI generation model services that "scrambled for commercialization after OpenAI's Sora exited the booming market." Named rivals include ByteDance's Seedance, Shengshu Technology and PixVerse.

The filing arrives in a crowded week for China AI listing plans on our tracker. DeepSeek is nearing a $12B round before its own 2027 IPO, and Moonshot has closed its final private round at $50B targeting an early 2027 Hong Kong listing. Neither the Bloomberg report nor the July round disclosure puts a public number on Kling's current revenue.