---
title: "Kingsoft Cloud rises over 10% on Morgan Stanley upgrade, Xiaomi GPU spending rumor"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292015848.md"
description: "Kingsoft Cloud (3896.HK) surged over 10% to HK$5.430 amid Morgan Stanley initiation and rumors of Xiaomi raising GPU budget to over HK$10 billion."
datetime: "2026-07-08T05:20:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292015848.md)
  - [en](https://longbridge.com/en/news/292015848.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292015848.md)
---

# Kingsoft Cloud rises over 10% on Morgan Stanley upgrade, Xiaomi GPU spending rumor

Kingsoft Cloud (3896.HK) **tumbled** during regular trading to HK$5.430, up more than **10%**.

Morgan Stanley initiated coverage with a positive outlook. Separately, market rumors suggest Xiaomi is raising its GPU investment budget to over **HK$10 billion**, potentially benefiting Kingsoft Cloud as a core computing power supplier.

The company's AI computing power business is expected to enter a high-growth realization phase, with smart cloud computing revenue projected to reach **HK$1 billion** in the first quarter of 2026, representing a **90%** year-over-year increase.

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