General Atlantic in Talks to Lead Round for China’s Kling AI (1)

Kuaishou Technology is in discussions with General Atlantic to lead a first round of financing for its video AI arm, seeking to secure a major US backer ahead of an initial public offering.

Kling AI aims to raise more than $2 billion at a post-investment valuation of $18 billion, according to people familiar with the matter. The Chinese firm had held initial discussions with investors about financing at a $20 billion target, but trimmed those expectations to match market appetite, the people said.

Kling — which like OpenAI’s now-defunct Sora generates videos and short films from user prompts — has ...