Valued at $18 billion! Kuaishou announces: AI Keling to land nearly $3 billion in financing

On July 3rd, it was announced that Kuaishou, a popular short video platform, has secured nearly $3 billion in funding for its AI-powered video creation model. Investors include Alibaba, Baidu, China Internet Investment Fund, Beijing Artificial Intelligence Production Investment Fund, among others. The post-investment valuation is expected to reach $18 billion. Kuaishou's subsidiary, Beijing Keling, has signed a capital increase agreement with 21 investors, with an initial investment of 13.8236 billion yuan. Additional investors have the option to participate in the funding round within 60 days, with a total capital increase cap of 20.447 billion yuan. Fifteen additional investors have agreed to invest 5.2235 billion yuan in Beijing Keling. Furthermore, Beijing Keling may enter into additional agreements with new investors during the subscription period within the subscription limit. Investors in this funding round include Hangzhou Alibaba Cloud Feitian Information Technology Co., Ltd., China Internet Investment Fund, Beijing Baidu Netcom Technology Co., Ltd., Beijing Artificial Intelligence Industry Investment Fund, Citic Securities Investment Co., Ltd., Beijing Guokecheng Equity Investment Fund, Chongqing Manufacturing Industry Transformation and Upgrading Private Equity Investment Fund, among others. Following this round of investment, Keling's post-investment valuation is expected to reach $18 billion.