Kingsoft Cloud (KC) Surges Over 19% Amid Strategic Developments

Feb 03, 2025

Kingsoft Cloud (KC, Financial) experienced a significant pre-market surge of over 19%, with shares reaching $15.02. In parallel, its Hong Kong-listed shares (03896) rose by 31.43%, marking a historic high for the company.

The surge in stock price is attributed to the success of DeepSeek, which has topped the mobile application download rankings in 140 markets globally. This achievement has spotlighted Kingsoft Cloud's potential in the tech industry.

Additionally, there are reports that Lei Jun, a prominent figure in the tech industry, has successfully recruited Luo Fuli, a key developer from DeepSeek, with a million-dollar salary. Luo Fuli is set to become one of the leaders in Xiaomi's large model team. Xiaomi aims to leverage Luo's experience in developing DeepSeek-V2 to enhance the efficiency and user experience of its AI large models.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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