Kling AI, the artificial intelligence video arm backed by Kuaishou Technology, has tapped China International Capital Corp., Goldman Sachs Group Inc. and UBS Group AG to prepare a potential share sale in Hong Kong, according to people familiar with the plans who asked not to be identified because the talks are private. The contemplated offering would aim to raise no less than $1 billion.
Kling is targeting a debut as soon as next year, though the size and timing are still in flux as discussions continue. Spokespeople for Goldman Sachs and UBS offered no comment, while Kling and CICC did not respond to requests for comment. In May, The Information reported that Kuaishou had been eyeing a 2027 IPO for the platform.
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Launched in 2024, Kling sits among a growing set of Chinese generative video players chasing revenue opportunities and looking to fill the space left after OpenAI shut down Sora. In July, it secured $2.8 billion from investors such as Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc., valuing the company at roughly $15 billion before new money. The field includes ByteDance Ltd.'s Seedance and startups Shengshu and PixVerse, with Bloomberg News reporting that both Shengshu and PixVerse are pursuing Hong Kong listings.
On Tuesday morning in Hong Kong, Kuaishou's stock was up by as much as 3.5%, registering its strongest intraday advance in a fortnight. More broadly, AI has led a revival in Hong Kong's deal scene, helping drive share sales to a record in the third quarter, even as the city's equities have pulled back. For everyday investors, the takeaway is simple: AI-linked listings are where the action is right now, and fresh issuance in Hong Kong could keep that pipeline busy.
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