Hong Kong stock movement | Kingsoft Cloud (03896) rose more than 6% in early trading, benefiting from the huge demand for Cloud Computing Service from Xiaomi Group and KINGSOFT Group in the future.

Kingsoft Cloud (03896) rose more than 6% in early trading. As of this report, it has increased by 4.14%, priced at 5.53 Hong Kong dollars, with a trading volume of 0.186 billion Hong Kong dollars.

Zhitong Finance21:50 ET

U.S. stock market close: the three major indexes varied in performance; Huang Renxun's remarks caused a collapse in the Quantum Computing Sector.

① The Nasdaq China Golden Dragon Index fell by 0.67%, with most China Concept Stocks declining; ② Wildfires ravaged California, and Electrical Utilities provider Edison International fell by 10%; ③ Jensen Huang stated that a "very useful" quantum computer may take several decades to arrive; ④ Intel: will continue to focus on the independent graphics card market.

cls.cn17:14 ET

Benefiting from the surge in demand for intelligent computing services, Kingsoft Cloud has gained further favor in the market.

The report titled "China's Intelligent Computing Service Market (First Half of 2024) Tracking" released by the well-known research Institution IDC shows that in the first half of 2024, China's intelligent computing service overall market grew by 79.6% year-on-year, with a market size reaching 14.61 billion yuan. According to IDC's forecast, the compound annual growth rate of China's intelligent computing service market from 2023 to 2028 will reach 56.2%. This reflects the enormous potential of China's intelligent computing service market. Industry analysis suggests that with the development of AI technology, the momentum for the development of the computing power industry in our country will continue to be strong, and computing power infrastructure manufacturers will welcome a new round of development opportunities. Kingsoft Cloud, as a leading domestic provider.

Gelonghui FinanceJan 7 22:21 ET

Kingsoft Cloud Maintains Stable Share Structure in December

TipRanksJan 7 16:28 ET

Kingsoft Cloud Holdings' Affiliate to Sell, Lease Back Assets for 500 Million Yuan

MT NewswiresJan 7 06:31 ET

U.S. stock market closing: the three major Indexes had mixed results, with the Technology conference CES boosting chip stocks higher.

① Nasdaq China Golden Dragon Index closed down 1.16%, most China Concept Stocks fell, Tencent ADR dropped nearly 8%; ② MicroStrategy has purchased Bitcoin for nine consecutive weeks; ③ Trump denies plans to reduce the applicability of tariffs; ④ Qualcomm announces the launch of the new AI chip Snapdragon X.

cls.cnJan 6 17:19 ET