HK Stock Market Move | ILUVATAR COREX(09903) rose over 5%, domestic demand for AI computing power continues to expand, Goldman Sachs sees target price raised to 1000 Hong Kong dollars.

ILUVATAR COREX (09903) rose more than 5%, at the time of reporting, it rose 5.31%, reaching 521.5 Hong Kong dollars, with a turnover of 1.66 billion Hong Kong dollars. On the news front, Goldman Sachs initiated coverage of ILUVATAR COREX for the first time and gave it a buy rating with a 12-month target price of 1000 Hong Kong dollars. Goldman Sachs significantly raised its forecast for China's CSP AI capital expenditure, believing that this will directly drive AI infrastructure investment and local chip demand. ILUVATAR COREX, as a leading domestic supplier, benefits from the trend of customer diversification and the improvement of product performance. Its TG series and ZK series product lines cover the entire scene from training to inference, and the high compatibility of the software stack reduces customer switching costs. A previous research report from Bank of America Securities gave ILUVATAR COREX a "buy" rating for the first time with a target price of 1013 Hong Kong dollars, believing that the company is a leading Chinese general-purpose graphics processor (GPGPU) enterprise and is expected to benefit from the booming growth of the Chinese AI accelerator market under the trend of localization. With the launch of new products, customer expansion driving market share growth, and a diversified supply chain strategy supporting revenue scale expansion, it is optimistic about its prospects.