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Kuaishou shares fall after Tencent joins $2.8 billion raise for Kling AI subsidiary
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- Kuaishou Technology shares were trading lower Friday after the company announced a capital injection of almost $2.8 billion for its artificial intelligence subsidiary, Kling AI, including backing from tech giant Tencent.
- The Beijing-based short video platform disclosed the funding details in a regulatory filing released after the market closed on Thursday.
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Kuaishou Technology shares were trading lower Friday after the company announced a capital injection of almost $2.8 billion for its artificial intelligence subsidiary, Kling AI, including backing from tech giant Tencent.
The Beijing-based short video platform disclosed the funding details in a regulatory filing released after the market closed on Thursday. The company was targeting a valuation of $15 billion from the raise, Bloomberg reported.
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