On June 2, Kingsoft Cloud rose 5.07% in regular trading, trading at HK$7.09/share, with trading volume of HK$279 million, extending its recent strong rebound momentum.

Multiple catalysts are converging to drive the stock higher. The open-source AI agent framework OpenClaw continues to gain traction among developers, boosting market expectations for cloud computing demand as AI transitions from answering questions to executing tasks. Meanwhile, the company's Q1 earnings showed total revenue of RMB 2.704 billion, up 37.2% year-over-year, with smart computing cloud billing revenue surging 90% to account for over half of public cloud revenue for the first time. Revenue from the Xiaomi and Kingsoft ecosystem grew 68.9% year-over-year to RMB 840 million.

Additionally, the board authorized a share buyback of up to 10% of outstanding shares, and Jefferies maintained a Buy rating with a US$19 target price, collectively reinforcing bullish sentiment. Global cloud vendors have also initiated rare computing power price increases, signaling intensifying AI infrastructure scarcity that benefits smaller-scale cloud providers like Kingsoft Cloud due to their higher earnings elasticity.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)