KINGSOFT CLOUD's stock price surged 17.58% during the afternoon trading session on Wednesday. The sharp upward movement significantly outperformed the broader market, highlighting strong investor interest in the stock.

The rally was primarily driven by a positive research report from Goldman Sachs, which reiterated a bullish outlook on the AI infrastructure supply chain. The report highlighted the rapid adoption and practical utility of the open-source AI agent OpenClaw, suggesting it demonstrates significant potential for AI applications. Goldman Sachs expects large language models and cloud service providers, including Kingsoft Cloud, to benefit from this trend, anticipating exponential growth in demand for related services once AI inference demand accelerates.

Additionally, the surge occurred amidst a broader rally in Hong Kong's hard technology stocks, with several peers also posting significant gains. Analyst commentary from institutions like CSC Financial pointed to favorable sector fundamentals, including the acceleration of domestic substitution in critical components, which is seen as a key growth driver for leading companies in the equipment and technology space.