Kuaishou's Kling AI secures $2.8 billion from Alibaba, Tencent and Baidu

Getting China's three biggest tech rivals into the same round is unusual and shows how much strategic value they place on owning a stake in video generation rather than losing the category outright. Spinning Kling out ahead of a Hong Kong listing lets Kuaishou monetize AI hype separately from its slower-growing core app. This also marks one of the largest AI video financings globally, putting Chinese generative video on a similar capital footing as US rivals like Runway and Sora.