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Chinese short-video company Kuaishou Technology is planning to spin off and list its generative AI unit.
Kuaishou plans to spin off and list its generative AI unit Kling with a $20 billion valuation.
KEY POINTS
- Kuaishou is in talks to raise around $2 billion for Kling from investors including Tencent.
- Kling's annual recurring revenue surged to $500 million in May from $150 million in December.
- Kuaishou aims to list Kling in Hong Kong next year, targeting global markets including the U.S., Europe, and Japan.
COMPANIES
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