US Stocks Move | Kingsoft Cloud (KC.US) rises over 7% on reports that Xiaomi's computing power investment budget will exceed 10 billions yuan

According to reports, Kingsoft Cloud will accelerate the construction of its GPU compute clusters in the second half of the year to meet the explosive growth in computing power demand from major clients. Xiaomi's demand for Kingsoft Cloud's GPU computing power has already upgraded from a 10-thousand-card cluster to an ultra-large-scale compute cluster, with the related investment budget increasing from nearly 4 billion yuan initially to over 10 billion yuan, far surpassing previous market expectations.