Kingsoft Cloud Holdings Ltd (03896) saw its stock price soar by 16.81% in intraday trading, as AI-related stocks in Hong Kong experienced a significant rally. The surge comes in the wake of NVIDIA founder and CEO Jensen Huang's announcement that the US government has approved H20 chip exports to China, signaling a potential boost for the AI industry in the region.
The positive sentiment spread across the AI sector, with other notable gainers including GDS Holdings Ltd (09698) climbing 10.45%, Maike Holdings Ltd (02556) jumping 9.55%, and tech giant Alibaba Group Holding Ltd (09988) rising 5.18%. This upward trend reflects growing investor optimism about the prospects of AI-related companies in the wake of recent developments.
Adding to the excitement, Huang also revealed plans to launch the RTXpro GPU, a new graphics card specifically designed for computer graphics, digital twins, and artificial intelligence applications. This announcement has further fueled expectations for increased computing power and AI capabilities in the market. Analysts from MinSheng Securities highlighted the commencement of a new global AI "arms race," suggesting that recent major model releases could significantly boost domestic computing power demand and application ecosystems. The firm expressed optimism about domestic computing capabilities and AI application development, while Huatai Securities advised investors to focus on AI applications in light of recent upgrades and launches of multiple domestic models.
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