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The Nexus
BUSINESSJul 7 · 02:27 UTCSCMP CHINABen Jiang

Kuaishou shares tumble as Tencent slashes stake after US$3b Kling AI deal

Kuaishou Technology shares fell over 6% after Tencent Holdings sold 273 million Class B shares, reducing its stake from 15.68% to 9.37%. The divestment followed Tencent leading a $3 billion financing round for Kuaishou’s AI video unit, Kling AI.

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Kuaishou TechnologyorganizationTencentorganizationKling AIorganizationUS$3 billiontopic273 million Class B sharestopic9.37%topic15.68%topic
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