Shares of Kingsoft Cloud Holdings Ltd. (NASDAQ: KC) soared 7.93% in pre-market trading on Tuesday, driven by optimism around potential trade negotiations between China and the United States, as well as hopes of benefiting from Xiaomi's foray into artificial intelligence (AI).
The pre-market rally comes as investors boost Chinese stocks amid expectations that the ongoing trade tensions between the two nations could be resolved through negotiations. China and the U.S. have implemented retaliatory tariffs on each other's goods, but there are indications that both sides may be willing to engage in talks to prevent further escalation of the trade dispute.
Additionally, the stock surge was fueled by Xiaomi's move to hire a key developer from Chinese AI startup DeepSeek, boosting investor sentiment on the potential ripple effect this could have on Kingsoft Cloud's cloud computing business. Kingsoft Cloud's chairman, Lei Jun, also chairs Xiaomi, raising hopes that any AI developments at the tech giant could benefit Kingsoft Cloud's operations.
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