On June 1, Kingsoft Cloud rose 5.63% in regular trading, trading at HKD 6.75/share, with trading volume of HKD 269 million.
The rally was driven by multiple catalysts converging. On the industry front, the AI agent framework OpenClaw continues to gain traction among developers globally, signaling AI's shift from answering questions to executing tasks — a structural tailwind for cloud computing infrastructure providers. Meanwhile, Jefferies maintained a Buy rating on Kingsoft Cloud with a USD 19 target price, citing Q1 total revenue growth of 37.2% year-over-year to RMB 2.7 billion, which beat consensus by 4.6%. Revenue from the Xiaomi and Kingsoft ecosystem surged 68.9% YoY to RMB 840 million, accounting for 31% of total revenue.
Additionally, the company recently disclosed board authorization to repurchase up to 10% of its outstanding shares, covering approximately 453 million shares, aimed at enhancing shareholder value and optimizing capital structure. Global cloud vendors have also initiated rare compute pricing increases, reinforcing the scarcity of AI computing resources and supporting valuation recovery for smaller cloud players with higher earnings elasticity.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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