{"slug": "kuaishou-shares-tumble-as-tencent-slashes-stake-after-us-3b-kling-ai-deal", "title": "Kuaishou shares tumble as Tencent slashes stake after US$3b Kling AI deal", "summary": "Kuaishou Technology shares fell over 6% after Tencent Holdings cut its stake from 15.68% to 9.37% by selling 273 million Class B shares, raising about HK$12.56 billion. The divestment followed Tencent leading a US$3 billion financing round for Kuaishou's AI video unit Kling AI, though Kuaishou said the move would not materially affect operations.", "body_md": "# Kuaishou shares tumble as Tencent slashes stake after US$3b Kling AI deal\n\nThe divestment will reduce Tencent’s shareholding in Kuaishou to 9.37 per cent from 15.68 per cent\n\n[Ben Jiang](/author/ben-jiang)in Beijing\n\nShares of Kuaishou Technology fell more than 6 per cent on Tuesday morning after Tencent Holdings slashed its stake in the short-video platform by selling 273 million Class B shares, just days after leading a US$3 billion financing round for Kuaishou’s artificial intelligence video unit, Kling AI.\n\nThe divestment will reduce Tencent’s shareholding in Kuaishou to 9.37 per cent from 15.68 per cent, meaning the tech giant would cease to be a substantial shareholder, according to a Kuaishou filing to the Hong Kong stock exchange on Monday.\n\nThe filing did not disclose the transaction price or range, but based on Kuaishou’s closing price of HK$46 on Monday, Tencent is expected to raise HK$12.56 billion (US$1.6 billion) from the sale.\n\nKuaishou said the move was not expected to have “any material adverse effect” on its operations, adding that Tencent remained confident in the company’s long-term prospects and would maintain their business relationship.\n\nIn the same filing, Kuaishou also provided an update on its recently announced HK$16 billion share buy-back programme. The company has so far repurchased 174.84 million Class B shares for a total of HK$8.35 billion.\n\nTencent’s share disposal came days after it joined a group of Chinese investors, including tech heavyweights, state-backed funds and entertainment industry players, that led a US$3 billion financing round for Kling AI.", "url": "https://wpnews.pro/news/kuaishou-shares-tumble-as-tencent-slashes-stake-after-us-3b-kling-ai-deal", "canonical_source": "https://www.scmp.com/tech/big-tech/article/3359664/kuaishou-shares-tumble-tencent-slashes-stake-after-us3b-kling-ai-deal?utm_source=rss_feed", "published_at": "2026-07-07 02:27:09+00:00", "updated_at": "2026-07-07 02:42:01.547728+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-startups", "ai-products"], "entities": ["Kuaishou Technology", "Tencent Holdings", "Kling AI", "Ben Jiang"], "alternates": {"html": "https://wpnews.pro/news/kuaishou-shares-tumble-as-tencent-slashes-stake-after-us-3b-kling-ai-deal", "markdown": "https://wpnews.pro/news/kuaishou-shares-tumble-as-tencent-slashes-stake-after-us-3b-kling-ai-deal.md", "text": "https://wpnews.pro/news/kuaishou-shares-tumble-as-tencent-slashes-stake-after-us-3b-kling-ai-deal.txt", "jsonld": "https://wpnews.pro/news/kuaishou-shares-tumble-as-tencent-slashes-stake-after-us-3b-kling-ai-deal.jsonld"}}