HK Stock Market Move | WASION HOLDINGS (03393) rose by more than 7% with the rise of the AI industry driving electricity demand, and data center customers promoting the company's smart power distribution business.

WASION HOLDINGS (03393) rose more than 7%, at the time of writing, it rose 7.38% to 14.4 Hong Kong dollars, with a turnover of 15.6139 million Hong Kong dollars. On the news front, Microsoft CEO Nadella and OpenAI CEO Altman recently stated in an interview that the current issue facing the artificial intelligence industry is not an excess of computational power, but a lack of sufficient electricity to support all GPU operations. They pointed out that if infrastructure cannot be quickly built near power sources, there may be a pile of chips in warehouses that cannot be used. In addition, the US Energy Information Administration (EIA) expects electricity consumption in the US to reach a record high in 2025 and 2026, driven mainly by the growth in demand from artificial intelligence and data center expansion. Zhongtai International recently pointed out in a research report that as the global AI industry rises, the demand for electricity in data centers is increasing, promoting the expansion of the company's intelligent distribution business. The company's business positioning has expanded from traditional industry to advanced technology, providing opportunities for revaluation and breaking the valuation framework of the Hong Kong industrial sector. The report also mentioned that starting from FY24, data center customers will drive the expansion of the company's intelligent distribution business. The company's new factory in Iskandar Malaysia, which started production in the first half of this year, is expected to further expand WASION HOLDINGS' overseas intelligent distribution business. During the opening ceremony of this factory, the company also signed a strategic cooperation agreement with DayOne to deepen collaboration in the data center field.