Kingsoft Cloud (KC, Financial) experienced a significant rise with a 9.07% gain previously, and continues to increase by 2.25% in pre-market trading, reaching $4.55. The surge comes after Kingsoft Cloud announced a financing lease agreement with CITIC Financial Leasing to accelerate investments in AI infrastructure.
Analysts have noted that Kingsoft Cloud's investment in AI capabilities is progressing more rapidly than anticipated, and demand is higher than expected. As a result, revenue forecasts for the company have been revised upward by 1.5% and 5.7% for the next two years, reaching 7.5 billion and 8.3 billion RMB, respectively.
The company's adjusted EBITDA projections have also been raised by 54.9% and 77.5%. Analysts maintain an "outperform" rating for Kingsoft Cloud, increasing its target price by 71% to $6.
