HK Stock Market Move | KINGSOFT CLOUD (03896) afternoon soared over 18%, demand for tokens surges rapidly, cloud providers collectively announce price increases.

KINGSOFT CLOUD (03896) surged over 18% in the afternoon, rising 16.69% to HK$7.9 by the time of publication, with a trading volume of HK$1.705 billion. In terms of news, Alibaba Cloud announced today on its official website that due to the global surge in demand for AI and rising supply chain costs, prices for Alibaba Cloud's AI computing power and storage products will increase by up to 34%. It was reported earlier that mainstream cloud service providers such as Tencent Cloud, Alibaba Cloud, and Huawei Cloud are facing a shortage of computing power, with Tencent tokens seeing price increases of up to 400%. EB SECURITIES previously pointed out that the strong global demand for AI computing power is reshaping the logic of the cloud service industry. With AWS breaking the norm by raising prices first, the industry's vicious price competition is expected to end, and profit centers and valuation systems are expected to undergo a dual restoration. As the core cloud platform within Xiaomi's ecosystem, KINGSOFT CLOUD's AI business is expected to maintain rapid growth, benefiting directly from the industry's turnaround and its own accelerated growth.