US Stock Movement | Kingsoft Cloud rises 6% as performance exceeds expectations and is favored by institutions

On Wednesday, Kingsoft Cloud rose 6%, closing at $17.03. Bank of America Securities released a research report stating that during a recent investor event, they communicated with the management of Chinese software companies, data centers, and cloud computing enterprises such as Kingdee, Meitu, Kingsoft Office, and Yonyou. They found that the monetization progress of AI in software companies is steady, and the value of AI-related contracts continues to rise; at the same time, AI agency and AI coding deployment are driving improvements in operational efficiency for software companies. In the data center and public cloud sectors, the firm is more optimistic about GDS Holdings, 21Vianet, and Kingsoft Cloud, which are all benefiting from strong AI demand, with all performances exceeding expectations and ratings being "Buy."