Movement Alert｜KINGSOFT CLOUD Rises 7.51% in Regular Trading, Global Cloud Giants Strong Earnings Lift Sector

Market Focus08-04 09:32

On August 4, KINGSOFT CLOUD rose 7.51% in regular trading, trading at 6.57 HKD/share, with turnover of HKD 177 million. The stock rallied amid a broader cloud computing sector surge driven by blockbuster earnings from the three largest global cloud vendors.

On the news front, Google Cloud posted quarterly revenue growth of 82% year-over-year, Microsoft Azure grew 43% YoY, and Amazon AWS revenue expanded 37% YoY, marking its fastest growth in 18 quarters. The strong results collectively boosted cloud computing stocks across markets. As a representative cloud computing name on the Hong Kong exchange, KINGSOFT CLOUD also benefits from multiple company-specific catalysts including AI-related revenue projected to surge 109% YoY, Xiaomi's over RMB 10 billion computing power budget deployment, and AI computing product price hikes of 15%-50%, reinforcing its earnings upside potential.

Morgan Stanley previously initiated coverage with an Overweight rating and a USD 15 target price, calling the company a pure AI cloud investment play in the Greater China IT services sector.

(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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