US Stock Market Move | KINGSOFT CLOUD (KC.US) bucks the trend and increases by over 7%, Hong Kong stocks closed up 2.69% today.

On Thursday, KINGSOFT CLOUD (KC.US) rose against the market trend, with the stock up over 7% to $17.655 as of the time of writing. Hong Kong stocks closed up 2.69% today. In terms of news, KINGSOFT CLOUD recently announced a new share offering at a price of HK$8.29 per share for 338 million new shares, expecting to raise approximately HK$2.76 billion in net proceeds. 80% of the funds raised will be used for expanding AI business, including upgrading infrastructure and cloud service capabilities, while the remaining funds will supplement corporate operational needs. After this share offering, KINGSOFT owns 32.94% and Xiaomi owns 10.29%. Guoyuan Securities International pointed out that the "big ecosystem" formed by KINGSOFT CLOUD with Kingsoft Group and Xiaomi Group sets it apart from other cloud providers, serving as a unique moat and an important guarantee for its future growth potential. The company clearly demonstrated a strong growth path driven by AI in the second quarter, balancing rapid growth in public cloud with the steady development of industry cloud and improving overall profitability. Its first-mover advantage in the AI field and deep ecosystem synergies collectively constitute a strong moat and future growth potential.