HK Stock Market Move | KINGSOFT CLOUD (03896) rose by over 10%, reaching a new 1-year high in stock price. The company is accelerating its investment in AI infrastructure.

KINGSOFT CLOUD (03896) has risen by more than 10%, reaching a new high of 2.78 Hong Kong dollars in a year. As of the time of reporting, it has increased by 9.47% to 2.66 Hong Kong dollars, with a trading volume of 338 million Hong Kong dollars. In terms of news, CICC released a research report stating that KINGSOFT CLOUD has announced a financing lease agreement with CITIC Financial Leasing to accelerate investment in AI infrastructure. Taking into account the faster pace of AI investment by KINGSOFT CLOUD and higher demand levels than expected, CICC has raised the group's revenue forecast for the next two years by 1.5% and 5.7% to 7.5 billion and 8.3 billion Chinese yuan respectively; adjusted EBITDA is also raised by 54.9% and 77.5%. Huaxi pointed out that in the long term, emerging technologies such as AI bring new development opportunities to the cloud computing industry. The landing of AI large models will drive a new round of development in the cloud computing industry. According to a whitepaper by China Academy of Information and Communications Technology, the penetration rate of China's cloud computing SaaS market is increasing year by year, and by 2023 the market size will reach 58.1 billion yuan, with a growth rate of 23.1%. In the future, with the comprehensive implementation of AI large models and the commercialization of cloud computing, the market size is expected to further expand.