We recently published a list of Shares of 10 Firms Soar on Friday. In this article, we are going to take a look at where Kingsoft Cloud Holdings Limited (NASDAQ:KC) stands against other firms that soared on Friday.

Wall Street finished mixed anew on Friday, as investors continued to weigh fresh developments on tariffs and inflation data.

The Nasdaq was the sole index eking out gains, up 0.41 percent. The Dow Jones decreased by 0.37 percent while the S&P 500 was little changed, dipping 0.01 percent.

In line with Nasdaq’s rally, 10 companies predominantly under the technology sector led the charge. In this article, we detailed the reasons behind their stellar performance.

To come up with this list of biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

An executive standing in front of their headquarters building, proudly symbolizing the company's achievements.

Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Kingsoft Cloud Holdings Limited (NASDAQ:KC) soared by 19.94 percent on Friday to end the day at $20.81 apiece as investor hopes were fueled by a report by Lyon that highlighted a breakthrough by China’s AI platform, DeepSeek. According to the report, the advancement was expected to accelerate the creation of AI applications in China, thereby pushing higher demand for cloud computing services.

Lyon also significantly raised its price target for KC by 272 percent to $20.5 from $5.5 previously.

Kingsoft Cloud (NASDAQ:KC) has been earning a boost from DeepSeek news over the past few weeks, particularly after Xiaomi, which is also chaired by its chairman, Lei Jun, poached one of DeepSeek’s top developers, Luo Fuli, to join Xiaomi’s AI development team.

The news boosted investor sentiment on hopes that any AI development in Xiaomi will create a domino effect on Kingsoft’s business in cloud computing.

Overall, KC ranks 3rd on our list of firms that soared on Friday. While we acknowledge the potential of KC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.