Kingsoft Cloud Holdings Limited (KC) Reports 16% YoY Revenue Growth in FQ3 2024, Fueled by AI Demand and Ecosystem Services

Insider Monkey11-21

We recently compiled a list of the 10 Emerging AI Stocks You Should Keep on Your Radar. In this article, we are going to take a look at where Kingsoft Cloud Holdings Limited (NASDAQ:KC) stands against...

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It also calls for expanding energy and fiber connectivity with government-backed funding. OpenAI highlights the Midwest and Southwest as ideal areas for AI development, with a focus on renewable energy and data centers. The plan emphasizes the need for 50 gigawatts of energy by 2030 to support AI growth and proposes small modular reactors to expand nuclear power capacity.Why are we interested in the stocks that hedge funds pile into?The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selec","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"KC":"金山云","KCLHF":"Kingsoft Cloud Holdings Limited"},"translate_title":"金山云控股有限公司(KC)报告称，在人工智能需求和生态系统服务的推动下，2024年第三季度收入同比增长16%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KC":1,"KCLHF":1},"content_text":"We recently compiled a list of the 10 Emerging AI Stocks You Should Keep on Your Radar. In this article, we are going to take a look at where Kingsoft Cloud Holdings Limited (NASDAQ:KC) stands against the other AI stocks you should keep on your radar.\nBuilding the Future of AI in the U.S.\nAs reported by CNBC on November 13, OpenAI’s \"blueprint for U.S. AI infrastructure\" outlines plans for AI economic zones, utilizing the U.S. Navy's nuclear expertise, and attracting private investment in government projects. The proposal includes a North American AI alliance to compete with China and a National Transmission Highway Act to modernize the grid. OpenAI views AI as a transformative technology, driving job creation, economic growth, and advancements in energy and chip manufacturing.\nThe blueprint recommends speeding up permitting processes and creating research hubs at public universities. It also calls for expanding energy and fiber connectivity with government-backed funding. OpenAI highlights the Midwest and Southwest as ideal areas for AI development, with a focus on renewable energy and data centers. The plan emphasizes the need for 50 gigawatts of energy by 2030 to support AI growth and proposes small modular reactors to expand nuclear power capacity.\nRead more about these developments by accessing 14 Trending AI Stocks on Latest Ratings and News and 15 AI News Investors Are Paying Attention To.\nThe Road Ahead for AI in Business\nCNBC recently discussed the future of AI with Kunle Olukotun, co-founder and chief technologist at SambaNova Systems. The discussion centered on the growing demand for AI in 2025, with major tech companies continuing to invest heavily in infrastructure. While these companies are shifting from AI experimentation to deployment, there’s a significant focus on the transition from training models to using them in real-world applications. This change is leading to more complex AI systems, which integrate multiple models for business automation.\nKunle Olukotun expects that in 2025, businesses will move beyond pilot phases, widely adopting AI systems that involve more complex reasoning and interactions, rather than simple chatbots. The key to this shift will be rapid inference capabilities.\nRead more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.\nFor this article, we collected the latest AI-related updates around non-US-based stocks from news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.\nWhy are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n An executive standing in front of their headquarters building, proudly symbolizing the company's achievements. \nKingsoft Cloud Holdings Limited (NASDAQ:KC)\nMarket Capitalization: $1.566 billion\nKingsoft Cloud Holdings Limited (NASDAQ:KC) offers a range of cloud services primarily in China, including IaaS, PaaS, and SaaS solutions. The company also provides R&D, enterprise digital solutions, and public cloud services across industries such as video, e-commerce, AI, and mobile internet, as well as enterprise cloud services for sectors like finance, public service, and healthcare.\nKingsoft Cloud (NASDAQ:KC) released its unaudited FQ3 2024 results, which showed significant AI-driven growth. Its revenue rose 16% year-over-year to nearly RMB 1.886 billion (RMB1 = US$0.14), driven by AI and ecosystem services. Public cloud revenue rose 15.6% to $167.5 million, supported by higher AI demand, while enterprise cloud revenue increased 16.7% to $101.2 million. CEO Tao Zou highlighted that the revenue growth was driven by AI, which contributed 31% of public cloud revenue.\nOverall KC ranks 9th on our list of AI stocks you should keep on your radar. While we acknowledge the potential of KC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than KC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485106983"}