General Atlantic is pursuing a $2 billion investment in Kling AI, the video-generation unit of Chinese tech company Kuaishou, valuing the business at $18 billion ahead of a planned Hong Kong IPO. The deal faces political risk after Beijing ordered Chinese AI firms to refuse US capital without prior clearance and restricted talent mobility. Kling, which generates short films from text prompts, has grown annual recurring revenue to about $500 million as of March 2026, up from $300 million in January.
