Algebraic $kk$-theory, introduced by Cortiñas and Thom, is a bivariant $K$-theory defined on the category $\mathrm{Alg}$ of algebras over a commutative unital ring $\ell$. It consists of a triangulated category $kk$ endowed with a functor from $\mathrm{Alg}$ to $kk$ that is the universal excisive, homotopy invariant and matrix-stable homology theory. Moreover, one can recover Weibel's homotopy $K$-theory $\mathrm{KH}$ from $kk$ since we have $kk(\ell,A)=\mathrm{KH}(A)$ for any algebra $A$. We prove that $\mathrm{Alg}$ with the split surjections as fibrations and the $kk$-equivalences as weak equivalences is a stable category of fibrant objects, whose homotopy category is $kk$. As a consecuence of this, we prove that the Dwyer-Kan localization $kk_\infty$ of the $\infty$-category of algebras at the set of $kk$-equivalences is a stable infinity category whose homotopy category is $kk$.

Some typos were corrected and Appendix B was dropped. Version to appear in Orbita Mathematicae. 40 pages