金山云（KC）今日盘中大幅上涨13.06%，引起了市场的广泛关注。
消息面上，高盛发布研究报告，将金山云的投资评级由“中性”上调至“买入”，目标价由14.2美元上调至15.6美元。该行预计，小米将于2026年在人工智能（AI）领域投入约100亿元人民币，而金山云作为小米生态圈中唯一的AI云基础设施供应商，将成为小米持续加大AI投资的主要受益者。
高盛进一步指出，预计金山云将在今年中前更新与小米的关联交易协议，使2026至2027年来自小米的收入上限较现有水平提高10%至15%，这意味着2025至2028年来自小米的收入年均复合增长率可达37%。基于此乐观预期，高盛上调了金山云未来几年的收入和利润预测。此外，野村证券此前也表达了对金山云的看好，认为其将持续受惠于小米发展大语言模型的决心。同时，金山云旗下子公司近日完成大幅增资，也显示了公司对相关业务的投入与扩张决心，为市场情绪带来了额外的积极影响。
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