China's Kling AI has raised an initial $2 billion in venture capital funding, according to Bloomberg, in one of the largest recent bets on AI-generated video.
The company is a spinoff from Kuaishou Technology, the Chinese short-video platform, and Kling is its AI video generator. Reporter Zheping Huang of Bloomberg says the round valued the business at $15 billion pre-money, and that the company expects the raise could extend to as much as $3 billion.
Both Bloomberg and Crypto Briefing report that Kling AI plans to use the money to expand its AI video operations. Beyond that headline goal, the sources do not detail specific spending plans or name the investors.
AI video generation — software that turns text prompts or images into short video clips — has become one of the most closely watched corners of the AI industry, and a large funding round of this size signals that investors see room for a major independent player to grow out of Kuaishou's technology.
Why it matters: a $2 billion raise at a $15 billion valuation shows that money is still flowing aggressively into AI video, and that Chinese firms are positioning themselves as serious contenders in a field otherwise dominated by a handful of well-funded American startups.