By Julia Fioretti and Pei Li | Updated on Oct 06, 2026 at 03:49 AM
Kuaishou Technology’s Kling AI has picked banks for a Hong Kong initial public offering that could raise at least $1 billion, according to people familiar with the matter.
The artificial intelligence video service is working with China International Capital Corp., Goldman Sachs Group Inc. and UBS Group AG on the potential share sale, the people said, asking not to be identified because the information is confidential. Kling is targeting a listing as soon as next year, they said.
Deliberations are ongoing and details such as size and timing may change, the people added. Representatives for Goldman Sachs and UBS declined to comment. Kling and CICC didn’t respond to requests for comment.
Kuaishou’s shares rose as much as 3.5% in Hong Kong on Tuesday morning, the biggest intraday gain in two weeks.
| More on Kling AI: |
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| AI Video Creation Leads China’s Kuaishou to 88% Stock Surge |
| The AI Video Apps Gaining Ground After OpenAI’s Sora Shutdown |
| Kuaishou Weighs AI Video Platform Spinoff for External Funding |
Founded in 2024, Kling is part of a wave of Chinese generative video services aggressively pursuing monetization and seeking to fill a void after OpenAI shuttered Sora . The Information first reported in May that Kuaishou was planning an IPO for the platform in 2027. Kling also raised $2.8 billion in a round in July from investors including Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Baidu Inc. That valued it at about $15 billion pre-money.
Kling competes with ByteDance Ltd.’s Seedance and startups like Shengshu and PixVerse , which are both planning Hong Kong IPOs, Bloomberg News has reported.
AI has been at the forefront of a Hong Kong deal revival that pushed share-sale volumes to a record third quarter, despite a retreat in the city’s stocks.