HK Stock Market Move | GDS-SW(09698) rose by over 6%, AI computing power drives high growth in data center demand.

GDS-SW(09698) rose more than 6%, as of the time of writing, it rose 6.45% to 44.2 Hong Kong dollars, with a trading volume of 1.5 billion Hong Kong dollars. On the news front, on the evening of January 26, the official WeChat public account of Alibaba Cloud announced the official release of the flagship inference model Qwen3-Max-Thinking. The total parameter volume of this model exceeds 1 trillion (1T), with a pre-training data volume of up to 36T Tokens, making it the largest and most powerful inference model of Alibaba at present. CITIC Securities recently pointed out in a research report that the demand for AI driven by inference + training is accelerating. The firm believes that the domestic computing power chain is on the rise, and they are focusing on opportunities in AIDC and network-side investments. Morgan Stanley's report states that the combined driving forces of scale demand, resource availability, and policies are pushing the deployment of super-sized AI data centers towards remote areas in the future. The firm believes that in the era of AI, the supply and demand dynamics of the data center market in remote areas will be healthier, with stable return prospects. Leading data center operators with strong resource pipelines will benefit from this trend.