- The amount actually paid was below the original financing ceiling.
Financing closes
Kuaishou’s Kling AI has completed the closing of its independent financing, with investors in Beijing Kling paying approximately RMB19.80184 billion, IT Home reported on October 31, citing a Kuaishou announcement issued the previous evening. The report gives the equivalent as about US$2.90533 billion.
The closing follows Kuaishou’s July announcement that it would restructure the Kling AI business and bring outside investors into Beijing Kling. The financing originally had a ceiling of RMB20.447 billion, according to IT Home. The final proceeds were approximately RMB645 million below that limit.
Investors and unpaid commitments
IT Home said Kuaishou terminated planned subscriptions of RMB100 million from Dakanglanwu and US$80 million from BFI MIDCO after the two investors failed to complete their remaining payments within the specified period. Other investors had completed their contributions, the report said.
The reported investor list includes Shanghai Guofang Digital Technology, which contributed RMB1.69 billion; the National Artificial Intelligence Industry Investment Fund, with RMB1.4 billion; and Alibaba Cloud, with approximately RMB1.363 billion. These are reported capital contributions, rather than independently verified operating results.
Sources & context
Go to the original material. Company claims remain attributed to their sources.
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