Kwai plans to split Kering AI, with a valuation of 20 billion dollars

According to The Information, Kwai plans to spin off its AI video generation business "Kling AI" and complete independent financing before IPO next year. Kwai has launched pre IPO financing negotiations with potential investors, and the valuation of Kering AI may reach 20 billion dollars. Kling AI focuses on the research and development of AI video generation model, and is currently competing with similar products of ByteDance, Google and Alibaba.