Kingsoft Cloud (03896) rose more than 5%, with the stock up 5.46% to HK$7.34 at the time of writing, recording a turnover of HK$696 million. Market sentiment was buoyed by the news that AI demand is driving up computing costs, triggering a wave of price increases among major domestic cloud service providers. Furthermore, on March 19, Xiaomi founder Lei Jun disclosed that the company's self-developed MiMo large language model had secured the top position on the global leaderboard of the well-known model aggregation platform OpenRouter for the week. Kaiyuan Securities believes that the increasing predictability of AI demand could help the cloud computing industry break free from low-price competition. Everbright Securities previously stated that, as the exclusive strategic cloud platform for the Xiaomi & Kingsoft ecosystem, the company is well-positioned to benefit continuously from the training needs of Xiaomi's self-developed MiMo model, the training and inference requirements for smart driving, and the inference demand generated by the massive number of terminal devices accessing AI services within the "Human-Vehicle-Home" ecosystem.