GDS Holdings (09698.HK) saw its stock price soar by 5.51% during intraday trading on Thursday, marking a significant upward movement for the data center operator.
The surge follows a research report from Goldman Sachs which listed cloud computing and data centers as its top preferred sub-industry, explicitly naming GDS Holdings among its selected picks. The investment bank highlighted that upcoming first-quarter earnings from major Chinese internet companies are expected to feature cloud revenue growth as a key highlight, with potential increases in AI-related capital expenditure.
Furthermore, the broader rally in hot Chinese concept stocks, fueled by quarterly results from leading firms like Alibaba, Tencent, and JD.com showing upside potential, contributed to positive market sentiment that benefited GDS Holdings and related companies in the internet services and infrastructure sector.
Comments