Kuaishou has officially started the assessment of the restructuring of its Ke Ling AI business and plans to introduce external financing and pursue an independent listing. On May 12, Kuaishou Technology released a statement responding to market rumors, confirming that the board is evaluating the proposed restructuring of related assets and operations of Ke Ling AI. This move aims to further utilize external financial resources and accelerate the independent expansion of this large model business. According to previous market reports, Kuaishou intends to spin off Ke Ling AI and has already initiated pre-IPO financing discussions, aiming to raise $2 billion with a target valuation of $20 billion.
As a leader in domestic video generation models, Ke Ling AI's market moves have triggered strong reactions from the capital market. On the day the announcement was made, Kuaishou's Hong Kong stock price opened sharply higher, rising more than 11% at one point, with its market value staying above HKD 230 billion. Although Kuaishou emphasized that it is still in the initial stage of the evaluation process and has not signed a final agreement, this strategic decision sends a very clear signal: as generative AI enters deeper waters, leading manufacturers are seeking more flexible capital support and market pricing by splitting their businesses.
From an industry perspective, if Ke Ling AI successfully splits off, it will not only become the highest-valued AI video unicorn in China but also mark a faster transformation of AI innovation businesses incubated within large companies from "cost centers" to "value centers." This split model helps alleviate R&D investment pressure at the group level and grants Ke Ling AI greater autonomy in computing power reserves and commercialization. As competition intensifies with global top models like Sora, Kuaishou's move signals that the AI video sector has moved from technological racing into a new phase of capital operations and ecosystem building.
