Kingsoft Cloud (03896) saw its shares rise more than 5% during trading. At the time of writing, the stock was up 4.02%, trading at HK$9.06 with a turnover of HK$445 million.

Major players both domestically and internationally have initiated a new round of price adjustments. Alibaba Cloud issued three product price increase announcements within four days, adjusting service prices for certain model units of Bailian and modifying the free API quota for DataWorks. Separately, Anthropic has quietly raised prices for its enterprise products, shifting from a fixed fee structure to billing based on actual computing resource consumption.

Shenwan Hongyuan pointed out that independent cloud service providers with high AI sensitivity deserve attention. Firstly, the Xiaomi-Kingsoft ecosystem provides high revenue certainty and strong user stickiness, with Kingsoft Cloud, as a core cloud provider, fully benefiting from ecosystem expansion (Xiaomi's newly released large model, MiMo-V2 Pro, has entered the global top tier). Secondly, as an independent cloud provider, the company is also well-positioned to capitalize on the upward trend in the domestic cloud market.