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BTC $81,357.38 -0.05%
ETH $2,330.52 -0.75%
BNB $660.94 +0.82%
XRP $1.48 +2.40%
SOL $96.58 +2.31%
TRX $0.3506 +0.03%
DOGE $0.1107 +1.40%
ADA $0.2817 +0.24%
BCH $450.40 -1.29%
LINK $10.56 -0.44%
HYPE $41.56 -3.90%
AAVE $101.76 +2.53%
SUI $1.27 +4.66%
XLM $0.1695 +1.23%
ZEC $552.79 -7.52%

pi

Kuaishou plans to spin off Keling AI and raise $2 billion at a valuation of $20 billion, with Tencent participating in the negotiations

According to an exclusive report by LatePost, Kuaishou plans to spin off its video generation large model business "Keling AI" and initiate a $2 billion financing round with an estimated valuation of about $20 billion. They are currently in talks with investors such as Tencent, and the deal has not yet been completed. Based on the current market value, Keling's valuation is already close to 70% of Kuaishou's overall market value.The report states that Keling's current annual recurring revenue (ARR) has reached $500 million, doubling since before the Spring Festival, significantly exceeding Kuaishou's previous expectations. At the beginning of 2025, Kuaishou set an annual revenue target of $60 million for Keling, but the final annual revenue reached $150 million. In the face of increased competition from giants like ByteDance and Alibaba in the video generation field, Kuaishou has established an independent option pool and special incentive mechanisms for Keling.It is reported that if the future IPO valuation reaches $40 billion, team incentives will be further enhanced. Currently, Keling has become one of the fastest-growing products in the global video generation field. By early 2026, it ranked first in the iOS drawing and design charts in nearly 40 countries and regions, including Brazil, Russia, and Singapore, and became one of the highest-grossing graphic design applications in South Korea and Russia.

Analysis: Bitcoin surged and then fell below $80,000, with ETF capital outflows and geopolitical risks combining to suppress market sentiment

Bitcoin fell below the $80,000 mark this week, following a five-day streak of net inflows into spot ETFs, as the market's rebound momentum from February's lows showed signs of cooling. The U.S. April non-farm payroll data added 115,000 jobs, exceeding the expected 62,000, while the unemployment rate remained at 4.3%. Although the overall data was relatively strong, it did not significantly alleviate market concerns about macroeconomic uncertainty; instead, it reinforced expectations that "energy-driven inflation limits the space for interest rate cuts."In terms of capital flow, the spot Bitcoin ETF saw a net outflow of $277 million on Thursday, ending a previous cumulative inflow of $1.69 billion; the Ethereum ETF also recorded a net outflow of $104 million on the same day, indicating a short-term cooling of institutional risk appetite. On the geopolitical front, tensions between Iran and the U.S. have escalated again, prompting the market to reprice the risks in the Strait of Hormuz, leading to a rebound in oil prices, which partially offset the support that previous risk assets received from the decline in oil prices.The derivatives market shows a more long-term hawkish outlook, with interest rate futures pricing in over a 50% probability of rate hikes beyond 2027, suggesting that the easing cycle may be delayed until 2028. On-chain data indicates that the current rise in Bitcoin is primarily driven by institutional spot buying and short covering, with retail participation remaining relatively low, and funding rates maintaining a moderate level, resulting in a weak market momentum structure. Analysts believe that if retail funds do not return, BTC may still face the risk of testing the support range of $75,000 to $78,000.
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