$Kingsoft Cloud(KC.US) rose +11%, leading the rebound among China concept AI cloud stocks, as the demand for computing power for AI training and inference is being repriced.
$IREN(IREN.US) gained eight points, with its dual exposure to data centers and Bitcoin mining computing power both recovering; $Vertiv(VRT.US), $Applied Digital(APLD.US), $Hewlett Packard Enterprise(HPE.US), and $Cisco(CSCO.US) all rose two to four points, as the entire AI infrastructure chain—including data center power supply, cooling, computing power hosting, and network equipment—moved together.
From models to chips to power and data centers, AI capital expenditure is being bought across the entire chain this time, with cloud and power showing greater elasticity.
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