Kuaishou’s Shares Climb After Outlining Video AI Revenue Jump

Kuaishou Technology’s stock climbed to its highest level since March after the social video service said it expected annual revenue from video-generation platform Kling AI to hit $100 million by February.

The company, best known for competing with ByteDance Ltd.’s TikTok and Douyin, said Kling’s on track to become one of the world’s top-earning video generators. The nascent service brought in more than 100 million yuan ($14 million) of subscription bookings in both April and May, the company said in a statement. That added to the strong momentum that surprised investors when Kuaishou reported March-quarter results last week. The stock was up as much as 7.5% Friday.