Stock Track | Kingsoft Cloud Soars 5.54% in Pre-Market on Goldman Sachs Upgrade and Xiaomi AI Investment Boost

Stock Track
02/12

Kingsoft Cloud Holdings Ltd (KC) saw its shares surge 5.54% during pre-market trading on Thursday, marking a significant upward movement.

The rally follows an analyst upgrade from Goldman Sachs, which raised its rating on Kingsoft Cloud to buy from neutral and increased its price target to $15.60 from $14.20. Such upgrades typically signal improved confidence in the company's future prospects and can attract investor buying interest.

Additionally, a Goldman Sachs research report highlighted that Xiaomi plans to invest approximately RMB 10 billion in artificial intelligence by 2026, with Kingsoft Cloud expected to be a primary beneficiary. The report also noted that Kingsoft Cloud is anticipated to update its connected transaction agreement with Xiaomi by mid-year, potentially raising the revenue cap from Xiaomi by 10% to 15% for 2026-2027, further bolstering investor optimism.

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