US Stock Market Move | Popular Chinese concept stocks rose in pre-market trading, KINGSOFT CLOUD (KC.US) surged more than 10%.

On Tuesday, popular Chinese concept stocks surged in pre-market trading, with KINGSOFT CLOUD (KC.US) soaring over 10%, Hesai (HSAI.US), Bilibili, Inc. Sponsored ADR Class Z (BILI.US) up nearly 5%, VNET Group, Inc. Sponsored ADR (VNET.US), Baidu Inc Sponsored ADR Class A (BIDU.US) up over 2%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) up over 1%. GF Securities released a research report stating that KINGSOFT CLOUD has strong demand visibility, Xiaomi Jinshan is increasing its AI investment, and large-scale models, smart cars, and WPS all require a large amount of AI training and inference computing power, and the demand for AI from non-Xiaomi customers is also strong. EB Securities also stated that KINGSOFT CLOUD, as the core cloud platform in the Xiaomi ecosystem, is expected to maintain high-speed growth in its AI business and is likely to directly benefit from the industry's economic recovery and its own accelerated growth.