Kingsoft Cloud Holdings Ltd's stock soared 35.64% on Friday, outperforming the broader market as Chinese stocks rallied on expectations of more stimulus measures from Beijing.
Major Chinese tech stocks like Xiaomi and SMIC also gained around 4%, fueling investor optimism about the Chinese economy's recovery prospects. Analysts believe the government will deliver more interest rate cuts and raise borrowing limits next year to spur growth after policy shifts from top officials.
Additionally, the rally in Kingsoft Cloud's shares may have been boosted by the company's potential expansion into AI and robotics. According to reports, Kingsoft Cloud plans to develop its own AI model called Mind GPT and enter the humanoid robot market, diversifying beyond its core cloud services business.
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