China’s Kling AI nears US $3 bi l l i o n r o u n d a t U S$ 18 billion valuation

SCMP exclusive: Kling AI near $3 B r o u n d a t$ 18B post-money valuation. Valuation narrowed from April $20B target. Tencent among investors. Kuaishou expects to start HKEX listing process within 12 months, IPO as early as 2027. Annual recurring revenue soaring after latest AI video model release.