Kuaishou shares rise after Tencent joins $2.8 billion funding round for Kling AI subsidiary
By
Jenny Lee
Summary
Kuaishou Technology shares rose nearly 7% at Hong Kong market open after announcing a ~$2.8 billion capital injection into its AI subsidiary, Kling AI, with participation from Tencent. The company was reportedly targeting a $15 billion valuation from the raise. Shares later pared gains to trade about 0.75% higher.
Source
bskyKuaishou shares rise after Tencent joins $2.8 billion funding round for Kling AI subsidiarycnbc.comKey quotes
· 3 pulledKuaishou shares rose as much as 6.89% at Friday's Hong Kong market open before paring gains to trade around 0.75% higher.
The company was targeting a $15 billion valuation from the raise, Bloomberg reported.
Kuaishou Technology shares rose nearly 7% Friday before trimming gains, after the company announced a capital injection of nearly $2.8 billion into its artificial intelligence subsidiary, Kling AI, with backing from tech giant Tencent.
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