1024.HK is trading 4.4% up at $44.48 following reports that its AI video unit, Kling, secured approximately $2.8 billion in new funding from a consortium including Alibaba, Tencent, and Baidu.
- The funding round reportedly values the Kling unit at $18 billion, significantly boosting investor sentiment regarding Kuaishou’s broader AI strategy and asset monetization.
- Shares briefly touched a one-week high as the market begins to re-rate the company's AI portfolio and potential for future spin-offs.
- The rally is notably company-specific, as 1024.HK outperformed broader Hong Kong tech peers who did not see a matching move.