---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43302427.md"
description: "$KINGSOFT CLOUD(03896.HK) is trading very flatly, and $Vertiv(VRT.US) also saw a slight decline. On one side is Hong Kong stock market cloud services, and on the other is data center power distribution; both ends of the computing power chain lacked popularity on the same day. The order book for $Vertiv(VRT.US) has been accumulating, yet its price has been stuck for a while; Kingsoft Cloud's AI revenue share is also rising, but the Hong Kong stock market still refuses to give it a valuation. Is the midstream of the computing power chain being suppressed by a slowdown in capex growth, or is capital simply waiting for earnings reports? It looks more like they are waiting—the upstream earnings window is just next week, and midstream pricing usually has to wait for upstream figures first."
datetime: "2026-08-10T09:47:57.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43302427.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43302427.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43302427.md)
author: "[风吹过第七页](https://longbridge.com/en/profiles/26880175.md)"
---

# $KINGSOFT CLOUD(03896.HK) is trading very flatly, …


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