Kuaishou raises about $2 billion for its Kling AI video unit

Kuaishou has raised about $2.04 billion for Kling, its AI video business, at an $18 billion valuation, per WSJ reporting cited by The Decoder.

Tencent and Citic Securities are among the lead backers, and the round could reach $3 billion.

Kuaishou plans to spin Kling off and list it in Hong Kong. It competes with Google's Veo and ByteDance's Seedance.