US Stock Market Move | KINGSOFT CLOUD (KC.US) rose more than 7%, with rumors that Xiaomi's computing power budget will increase to over 10 billion yuan.

On Tuesday, KINGSOFT CLOUD (KC.US) rose more than 7% to $9.83 per share. According to reports, KINGSOFT CLOUD will accelerate the construction of GPU computing clusters in the second half of the year to meet the surging computing power demands of top clients. Xiaomi's GPU computing power demand from KINGSOFT CLOUD has upgraded from a cluster of ten thousands of cards to a super-large scale computing power cluster. The related investment budget has increased from nearly 4 billion yuan to over 10 billion yuan, far exceeding market expectations. Based on Xiaomi's current investment scale of over 10 billion yuan, the theoretical computing power procurement fund that KINGSOFT CLOUD can leverage will exceed 40 billion yuan. The overall procurement scale of the entire computing power cluster is expected to exceed 100 billion yuan in the next two years, making it a core player in the domestic computing power field.