Shares of 21Vianet Group Inc. (VNET) surged 8.31% in pre-market trading on Wednesday, following news that the Chinese data center operator had recently won a major project in its home market.
According to analysts at Jefferies, VNET has secured a 200MW project in China, a significant win for the company as large internet firms and communications service providers in the country ramp up spending on cloud infrastructure.
The project win is seen as a positive development for VNET, positioning the company to benefit from the growing demand for cloud computing services in China. As a leading carrier-neutral internet data center services provider, VNET is well-positioned to capitalize on this trend and expand its footprint in the rapidly growing Chinese cloud market.
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