Chinese cloud services firm Kingsoft's Q3 revenue rises on AI customer expansion
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Kingsoft Cloud's Q3 revenue grew 31.4% year-over-year, driven by AI customer expansion. The company achieved its first profitable quarter with an adjusted net profit of RMB28.7 million. Strategic collaboration with the Xiaomi-Kingsoft ecosystem boosted revenue by 83.8% year-over-year. Despite improved cost management, the company did not provide future guidance. Analysts rate the stock as a "strong buy," with a median price target of HK$9.20, 35.3% above its current price.
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