Understanding the Market | KINGSOFT CLOUD rose over 8% in the late trading session, recently completing a placement fundraising. The company directly benefits from Xiaomi and Kingsoft's increased investment in AI
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KINGSOFT CLOUD surged over 8% in the late trading session, reaching an increase of 8.28% as of the time of publication, priced at HKD 6.54, with a trading volume of HKD 993 million. The company completed a fundraising of approximately USD 291.5 million through a placement, with the funds to be used for infrastructure upgrades, technology development, and working capital. Citigroup believes this placement plan is reasonable, while Shenwan Hongyuan pointed out that KINGSOFT CLOUD directly benefits from the AI investments of Xiaomi and Kingsoft, expecting future revenue to continue to grow
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