VNET Group, Inc., a leading Chinese data center company, saw its shares surge 15.01% in pre-market trading on Monday. The stock's remarkable rally can be attributed to several key factors:

Firstly, VNET recently formed a strategic alliance to establish a pre-REITs fund targeting hyperscale data centers in China, with an initial investment of approximately $828.3 million. This move positions the company to capitalize on the growing demand for data center infrastructure, which is a significant growth driver for the business.

Additionally, VNET Group reported robust third-quarter earnings, with revenue rising to CNY 2.12 billion, up from CNY 1.89 billion year-over-year, and net income turning positive at CNY 317.63 million. Encouraged by these strong results, the company raised its full-year revenue guidance by up to 9.3%, reflecting confidence in sustained growth amidst volatile market conditions.