Physix Frontier · News Briefing Card (TMTPost · Nov 2, 2026)

Kling closes 19.8B yuan capital raise at $17.9B post-money valuation

KEY FACTS

Kuaishou announced that Kling's capital increase has closed, with all 19.802 billion yuan received.
Kling's post-money valuation is about $17.9 billion, higher than Kuaishou's Hong Kong closing market cap.
In the first half of 2026, Kling's revenue exceeded 1.5 billion yuan, accounting for 2.17% of Kuaishou's total revenue.
Kling 4.0 generates native clips up to 30 seconds per pass and supports 15 reference assets.
In hands-on tests, AI character replacement produced errors, long shots were cut into hard cuts, and audio came out garbled after edits.

KEY DATA

19.802 billion yuanCapital raised

$17.9 billionPost-money valuation

Over 1.5 billion yuanFirst-half revenue

30 secondsPer-generation duration

PHYSIX OBSERVATION

Capital is pricing Kling on its future, but the stability gaps exposed in hands-on tests are the real exam. Generating stunning shots is not hard; what is hard is editing without introducing new errors, keeping long shots from collapsing, and keeping audio clean. The second half of AI video is about reproducible delivery capability, and whoever lets creators rework less will be the one that deserves the high valuation.

Source: TMTPost report