It is reported that Kuaishou’s Keling AI has selected investment banks to prepare for its IPO in Hong Kong and plans to raise at least US$1 billion.消息称快手旗下可灵 AI 已选定投行筹备赴港 IPO，拟募资至少 10 亿美元

IT House reported on October 6 that according to Bloomberg, people familiar with the matter revealed that Kling AI, a subsidiary of Kuaishou Technology, has selected an underwriting bank to prepare for an initial public offering in Hong Kong. The IPO fundraising scale can reach at least US$1 billion (IT House note: the current exchange rate is approximately 6.714 billion yuan). The AI-powered video service provider is working with China International Capital Corp, Goldman Sachs Group Inc and UBS Group AG on a potential stock offering, people familiar with the matter said. Keling AI aims to be launched as early as next year. Relevant sources added that relevant discussions are still ongoing, and details such as the financing scale and listing time may still change. Keling AI was founded in 2024. As a member of the domestic AI-generated video track, it is actively seeking commercialization; after OpenAI terminated the Sora project, Keling AI also hopes to fill the market gap. In July this year, Keling AI completed a round of financing of US$2.8 billion (approximately 18.801 billion yuan at the current exchange rate). Investors included technology giants such as Alibaba, Tencent and Baidu. After the completion of this round of financing, Keling AI’s pre-money valuation was approximately US$15 billion (approximately 100.717 billion yuan at the current exchange rate). Keling AI’s current competitors include ByteDance’s Seedance, as well as two start-ups, Shengshu Technology and PixVerse, both of which are also planning to IPO in Hong Kong. Although Hong Kong's local stock market is weakening, AI-related deals are driving a recovery in the Hong Kong IPO market, pushing total new stock fundraising to a new high in the third quarter. Kuaishou's own stock price listed in Hong Kong has not been immune, and its market value has shrunk by more than half this year.