HK Stock Market Move | KINGSOFT CLOUD (03896) rose more than 5%. Strong demand for AI computing power is expected to reshape the cloud service industry logic.

KINGSOFT CLOUD (03896) rose more than 5%, rising to 5.46% at the time of publication, reporting 7.34 Hong Kong dollars, with a turnover of 6.96 billion Hong Kong dollars. On the news front, AI demand is driving up computing costs, leading to a price hike among major cloud providers in China. In addition, on March 19, Xiaomi founder Lei Jun revealed that Xiaomi's self-developed MiMo large language model successfully topped the weekly rankings on the globally renowned large model aggregation platform OpenRouter. Open Source Securities believes that the predictability of AI demand is increasing, and AI demand is expected to drive the cloud computing industry out of the low-price spiral. EB Securities previously stated that as the sole strategic cloud platform of Xiaomi & Kingsoft Ecology, the company is expected to continue to benefit from the training of Xiaomi's self-developed MiMo large model, the training and reasoning of intelligent driving, and the inference demand generated by the massive number of terminal devices in the "person-vehicle-home" ecosystem accessing AI services.