Kling AI Closes 19.8 Billion Yuan Capital Increase as Middle Eastern Backer Exits and Kingdee, MetaX Step In

Kling AI has completed a 19.8 billion yuan capital increase, but the final stage of the deal brought a change of investors: a Middle Eastern backer withdrew at the last moment, and Kingdee and MetaX came in, according to BigGo Finance.

The size of the raise shows Kling AI is still absorbing outside capital at scale. Video generation is among the most compute- and data-hungry corners of AI, with training and inference costs climbing alongside resolution and clip length, so funding scale tends to set the pace of model iteration and commercial rollout.

The more interesting detail is who ended up on the cap table. Middle Eastern sovereign and industrial capital has been active in AI for the past two years and is usually read as long-horizon money paired with overseas market access. Kingdee brings enterprise software and customer channels, MetaX brings domestic GPU supply, and together they push the shareholder base from financial-plus-overseas toward industrial-plus-domestic compute.

That substitution likely reflects different strategic goals. The enterprise software side wants to embed video generation into marketing, e-commerce and office workflows, while the chip side wants real model-side validation for domestic hardware. Neither is purely writing a check; both bring expectations of coordination on scenarios or silicon.

For Kling AI, the change in shareholder profile also changes the shape of its resources. An overseas exit may narrow cross-border partnership and international market ambitions, while domestic compute and local enterprise customers align more closely with how commercialization actually works inside China.

The report gives the outcome of the transaction only. Valuation, individual stakes and use of proceeds are not disclosed, and those details determine whether the 19.8 billion yuan is runway for the next round of model competition or groundwork for a larger capital move.

Three threads are worth following: whether Kling AI issues an official announcement confirming the new shareholders, how large a share domestic chips take in its training and inference pipelines, and whether Kingdee integrates video generation into any of its products.