We recently compiled a list of the Last Week's Top 10 Stocks Post Double-Digit Gains. In this article, we are going to take a look at where VNET Group, Inc. (NASDAQ:VNET) stands against the other stocks.

The stock market may have registered losses on Friday, but remained firmer on a week-on-week basis, with the bellwether indices continuing to track further developments from the growing trade tensions globally.

On a weekly basis, the Dow Jones was up 0.5 percent, the S&P 500 grew 1.47 percent, while the tech-heavy Nasdaq increased 2.57 percent.

Meanwhile, ten companies mirrored broader market optimism, booking as much as double-digit gains in just the last five trading days.

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

A close up image of a application hosting server with the company's branding on it.

VNET Group, Inc. (NASDAQ:VNET)

VNET Group, Inc. (NASDAQ:VNET) saw its share prices jump by 28 percent last week, touching a new all-time high, as investors bought up on hopes that it would be one of the Chinese data companies to benefit from the booming artificial intelligence industry in China.

Since the emergence of DeepSeek, VNET Group, Inc. (NASDAQ:VNET) shares, alongside its Chinese peers listed on the US stock exchange, have been earning a boost from advancements in the AI platform, particularly as the latter announced that it was able to train its models using cheap models.

Last year, VNET Group, Inc. (NASDAQ:VNET) signaled plans to invest heavily in AI in a bid to enhance its service offerings to streamline operations and improve customer experience, among others.

In its last earnings call, VNET Group, Inc. (NASDAQ:VNET) Group said it would earmark higher capital spending this year to support the robust demand for its wholesale services. It underscored that it would work closely with its strategic suppliers and maximize the synergies in order to ensure that its capital spending would grow at a steady pace.

Overall VNET ranks 9th on our list of last week's top gainers. While we acknowledge the potential of VNET 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 timeframe. If you are looking for an AI stock that is more promising than VNET but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

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