Shares of Kuaishou-W (HKEX: 01024) opened sharply higher, gaining more than 6% in early trading. At the time of writing, the stock is up 5.11% to HK$44.82, with a turnover of HK$804 million.

On July 2nd, it was reported that Kuaishou's video generation large model, "Kling AI," secured nearly $3 billion in funding, with a post-money valuation expected to reach $18 billion. This funding round sets a new global record for the largest single funding round for a multimodal large model company, signaling the official start of its independent commercial development journey.

In the first quarter of this year, the Kling AI business generated revenue exceeding 650 million yuan, representing year-on-year growth of over 300%. By March, its Annual Recurring Revenue (ARR) had approached $500 million. The company continues to solidify its leading position in AI technology, having launched the Kling AI 3.0 series of models in February this year, which supports full-modal input and output and can generate videos up to 15 seconds long. Kling AI is widely applied in professional creative scenarios and has been deeply involved in the creation of scenes for the popular drama "Peaceful Year" and the Hollywood television series "House of David."