Kuaishou’s Kling AI lines up CICC, Goldman Sachs and UBS for a $1 billion Hong Kong IPO

Kuaishou Technology’s AI video unit wants its own ticker. Kling AI plans a Hong Kong initial public offering that would raise at least $1 billion. Reports from October 6, 2026, indicate the unit has brought on CICC, Goldman Sachs and UBS as underwriters. The target is an early 2027 listing. For a business that only launched in 2024, that is a fast trip from product demo to public markets. The deal on the table The IPO would carve Kling AI out of its parent, Kuaishou Technology, which trades in Hong Kong under the ticker 1024. Kling is also known as Keling AI, or 可灵AI in Chinese. The listing comes on the heels of a large private round. In July 2026, Kling AI raised approximately $2.8 billion, with the round capped at $3 billion. That financing reportedly valued the unit at around $18 billion post-money. Tencent, Alibaba and Baidu all participated in the round. Kuaishou’s ownership is expected to shrink as a result. The parent’s stake in Kling is anticipated to be diluted to about 68%. The numbers behind the pitch In the second quarter of 2026, the unit’s revenue topped RMB 850 million. That reflects growth of more than 200% year on year. Kling’s ARR reached roughly $500 million by M...