HK Stock Market Move | KINGSOFT CLOUD (03896) now up more than 5%, the company announced the upgrade of its intelligent computing service system, and public cloud service revenue is expected to grow rapidly.

KINGSOFT CLOUD (03896) is currently up more than 5%, as of the time of writing, it is up by 4.09% to HK$5.35, with a turnover of HK$2.08 billion. On the news front, at the recent KINGSOFT CLOUD annual Tech Talk, KINGSOFT CLOUD's Senior Vice President Liu Tao announced the comprehensive upgrade of KINGSOFT CLOUD's smart computing service system to support the landing of large model applications. It is reported that KINGSOFT CLOUD has built a smart cloud 1.0 capability system around basic cloud, smart computing network, and smart computing platform, and is evolving towards a platform-based and serverless smart cloud 2.0. Haitong believes that Kingsoft is a leading cloud service provider in China, with continuous improvement in technology, products, and service capabilities. The company's strategic transformation to fully embrace AI and strategically optimize its revenue structure to enhance profitability has achieved significant results. Benefiting from the future large cloud service demand of Xiaomi Group and KINGSOFT, as well as considering the large framework agreements renewed by the company with KINGSOFT Group and Xiaomi Group, public cloud service revenue is expected to grow rapidly.