12 stories found
Kuaishou Technology's shares dropped over 6 percent after Tencent Holdings reduced its stake in the short-video platform by selling 273 million Class B shares. This divestment occurred just days after Tencent led a US$3 billion financing round for Kuaishou.
Kuaishou has filed for a $2.8 billion funding round for its Kling AI, with Tencent joining as an investor. This significant investment has led to a surge in Kuaishou's shares.
A spin-off company from Chinese internet giant Kuaishou has secured new funding to develop in-house semiconductor designs, reflecting a broader trend among Chinese tech firms to invest in proprietary chips amid rising AI workloads and geopolitical tensions.
CoreWeave (CRWV) experienced a stock decline despite reporting more than 40% revenue growth, indicating investor concerns beyond top-line performance.
Tencent Holdings is reportedly seeking to sell a stake worth up to $1.6 billion in the short-video platform Kuaishou Technology.
Kuaishou shares experienced a decline following news that Tencent participated in a $2.8 billion funding round for Kling AI, a Kuaishou subsidiary.
Kuaishou Technology reported strong first-quarter results, beating estimates with a 300% jump in revenue from its Kling AI video generator. Synopsys also exceeded expectations with its non-GAAP EPS and revenue.
Kuaishou Tech has reported an increase in sales, attributed to the growing momentum in its artificial intelligence monetization strategies.
Chinese tech giants Alibaba and Tencent are among the backers of Kuaishou's Kling AI, contributing to a substantial $2.8 billion fundraise for the artificial intelligence initiative.
Kuaishou-backed Kling AI is reportedly close to completing a US$3 billion fundraising round, which would value the company at US$18 billion post-investment, amidst intensifying AI competition in China.
Chinese artificial intelligence companies like ByteDance and Kuaishou are reportedly surpassing their US counterparts in the development of video generation technology, enhancing quality in advertising and entertainment sectors.
Until last year, Fidelity International’s most significant cornerstone commitments on the Hong Kong initial public offering (IPO) market dated back to 2021, when Chinese short-video platform Kuaishou Technology raised US$5.4 billion and healthcare firm Medlive Technology completed a US$543.4 million listing. Then for the next four years, the asset manager went quiet. Late last year it returned to Chinese assets in force. It backed gold miner Zijin Gold International’s US$3.2 billion listing i...