Chinese cloud companies jumped in premarket trading as multiple firms announced price hikes. Kingsoft Cloud rose 19%; GDS Holdings rose 6%; Baidu and Alibaba rose 3%.

Alibaba is raising prices for its AI computing and storage products by as much as 34%, joining a host of big tech firms moving to capitalize on surging demand in the hope of recouping hefty investments.

The company is hiking prices for its T-Head AI computing chips by between 5% and 34%, it said in a statement. It’s also raising the cost of its Cloud Parallel File Storage service by 30%, it added.

Baidu also announced price adjustments for its AI computing power and storage-related products. Prices for AI computing services will increase by approximately 5% to 30%, while services such as parallel file storage will see hikes of around 30%.

China data center group GDS Holdings's 2025 net income surged by 10.8% YoY to RMB11.432 billion. It also recorded net profit from continuing operations attributable to shareholders of RMB950 million, compared to a loss of RMB777 million in the previous year. Net profit attributable to shareholders, however, slumped by 72.3% YoY to around RMB950 million.