HK Stock Market Move | KUAISHOU-W (01024) rose over 4% as Kuaishou obtained a cash capital injection of 1.4 billion yuan from the National Artificial Intelligence Fund.
Kuaishou-W (01024) rose over 4%, as of the time of reporting, up 4.11% to HK$34.96, with a transaction volume of HK$918 million.
KUAISHOU-W (01024) rose over 4%, at the time of writing, it increased by 4.11%, priced at HKD 34.96, with a transaction volume of HKD 918 million.
On the news front, on the evening of August 31, Kuaishou announced that Beijing Keling has signed cooperation agreements with the National Artificial Intelligence Fund and Charoen Pokphand Siasun Robot & Automation. According to this, the National Artificial Intelligence Fund and Charoen Pokphand Siasun Robot & Automation each agreed to become additional investors and parties to the capital increase agreement, injecting cash capital of RMB 1.4 billion and approximately USD 19.29 million (about RMB 131 million) into Beijing Keling.
Previously disclosed data from Kuaishou indicated that Keling's AI commercialization process is accelerating. In the second quarter, Keling's AI operating revenue exceeded RMB 850 million, a year-on-year increase of over 200%, and also significantly accelerated compared to the first quarter. Kuaishou attributes this growth to the dual driving forces of model capability iteration and the expansion of commercial scenarios.
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