Stock Track | Kuaishou-W Soars 5.03% Intraday on Kling AI Spinoff Plans and Strong Performance

Stock Track06-02 14:46

Kuaishou-W (HKEX: 01024) experienced a significant intraday surge, with its stock price soaring 5.03% on Tuesday. The movement reflects strong investor interest in the company's strategic initiatives and financial performance.

The primary catalyst for this sharp rise appears to be news that Kuaishou is planning to spin off its high-growth Kling AI unit for an independent listing, with a target valuation of approximately $20 billion. Investor confidence was further bolstered by details on the unit's exceptional performance, with Kling AI's operating revenue exceeding 650 million yuan in the first quarter, representing a year-on-year growth of over 300%.

Analysts have reacted positively to the developments. Morgan Stanley noted that Kling AI's annualized revenue run rate had already reached $500 million by March, significantly surpassing previous forecasts, and subsequently raised its year-end 2026 forecast to $1 billion. Goldman Sachs also expressed a bullish view, emphasizing Kling's leading model capabilities and sustained growth momentum despite competitive pressures.

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