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Kingsoft Cloud accelerates GPU computing power construction: Xiaomi's 10 billion yuan budget is finalized, and Alibaba signs a five-year, multi-billion yuan long-term contract.
According to Mars Finance, Jiemian News has exclusively learned that Kingsoft Cloud will accelerate the construction of its GPU computing power clusters in the second half of the year to meet the explosive growth in computing power demand from leading clients. Xiaomi's GPU computing power requirement for Kingsoft Cloud has been upgraded from a 10,000-card cluster to a super-large-scale computing power cluster, with the related investment budget increasing from the initial nearly 4 billion yuan to over 10 billion yuan. In addition, Alibaba's big data model team has signed a 5-year computing power leasing contract with Kingsoft Cloud, involving more than 3,000 eight-card GPU servers. Based on the monthly rental price at the time of signing, the monthly revenue after full delivery is estimated at approximately 300 million yuan, with an annualized revenue exceeding 4 billion yuan. Jiemian News contacted Kingsoft, Xiaomi, and Alibaba for verification, but received no response. (Edited by Wen Shuqi, Jiemian News)
Analysis: The AI computing power market is undergoing a shift, with funds flowing from memory chips to cloud providers.
PANews reported on July 5th that Garrett Jin, an agent for "1011 Insider Whale," analyzed that the market structure has changed significantly this week. Funds within the AI industry chain are being redistributed, and signs of a temporary peak in the memory chip market are emerging. Micron's stock price encountered resistance and fell back around $1250. Despite stronger-than-expected earnings, the stock price continued to decline with increasing volume, exhibiting typical top characteristics of "weakening after good news is priced in." SK Hynix and Samsung Electronics in the South Korean market also weakened. Data shows that foreign capital has withdrawn more than 100 trillion won (approximately $65 billion) from the South Korean stock market in the past two months. The real destination of funds is not small and mid-cap AI concept stocks, but core cloud computing giants such as Google, Microsoft, and Amazon.
Agent of "1011 Insider Whale": AI computing power trading is undergoing a shift, with funds flowing from storage chips to hyperscale cloud providers.
According to Odaily Odaily, Garrett Jin, an agent of "1011 Insider Whale," pointed out that the market structure has changed significantly this week, with funds being redistributed within the AI industry chain. Change 1: Signs of a temporary peak in memory chips are emerging. He said that Micron's stock price encountered resistance and fell back around $1,250. Although the financial report was stronger than expected, the stock price was still falling with increasing volume, showing the typical top characteristics of "weakening after the good news is realized". Meanwhile, funds flowed out of the memory sector rapidly. DRAM-related ETFs saw a significant drop in trading volume, and SK Hynix and Samsung Electronics in the South Korean market also weakened. Data shows that foreign capital has withdrawn more than 100 trillion won (approximately US$65 billion) from the South Korean stock market in the past two months. Change 2: Funding shifts to AI hyperscale cloud providers. He pointed out that the real destination for funds is not small and mid-cap AI concept stocks, but core cloud computing giants such as Google, Microsoft, and Amazon. When the chip sector came under pressure last Friday, GOOG and MSFT had already stabilized with increased trading volume, and this week META further strengthened this trend with increased trading volume. Garrett Jin believes that the logic behind this round of capital migration is the "token optimization trend": as more and more simple tasks are handled by low-cost models, value will gradually be concentrated in token-billed cloud services and orchestration layers, rather than the basic model layer. This also constitutes the core moat of hyperscale cloud vendors, and the current strategy should focus on the catch-up opportunities of hyperscale cloud vendors.
The computing chip concept saw renewed activity, with CloudWalk Technology rising over 10%.
Mars Finance reported on July 8th that the computing chip concept saw renewed activity, with Cloudwalk Technology surging over 10%, Rockchip nearing its daily limit, and Fudan Microelectronics, ASR Microelectronics, Wantong Development, Espressif Systems, and VeriSilicon following suit. In terms of news, JPMorgan Chase predicts that ASIC chip shipments will accelerate significantly in the next two years. In 2026, ASIC shipments are projected to reach 6.8 million units, while GPU shipments are expected to reach 9.5 million units, with ASICs accounting for approximately 42% of global AI chip shipments. However, by 2027, ASIC shipments are projected to reach 12.5 million units, accounting for 53%, surpassing GPUs' 10.9 million units for the first time. (Science and Technology Treasure Broadcast)
Kingsoft Cloud accelerates GPU computing power construction, securing a 10 billion yuan budget from Xiaomi and a multi-billion yuan long-term contract from Alibaba.
According to a report by Jiemian News, as reported by Mars Finance, Kingsoft Cloud will accelerate the construction of its GPU computing power clusters in the second half of the year to meet the explosive growth in computing power demand from leading clients. Xiaomi's GPU computing power requirement for Kingsoft Cloud has been upgraded from a 10,000-GPU cluster, with the related budget increasing significantly from the initial nearly 4 billion yuan to over 10 billion yuan. In addition, Alibaba's big data model team has signed a 5-year computing power leasing contract with Kingsoft Cloud, involving more than 3,000 eight-GPU servers. Based on the contract price, the annualized revenue after full delivery will exceed 4 billion yuan. To meet the surging customer demand, Kingsoft Cloud has increased its 2026 capital expenditure plan to 15 billion yuan, with a full-year revenue target of 12.5 billion to 13.5 billion yuan. It is understood that due to tight upstream supply, Kingsoft Cloud is currently only accepting long-term contract customers for 3 to 5 years for its GPU computing power, and some orders are facing delivery delays. Due to concerns about the risk of asset impairment from stockpiling high-priced computing cards, Kingsoft Cloud is currently suspending its aggressive expansion of hardware, anticipating that computing hardware prices may reach a turning point in the third quarter of this year.
US computing power rental providers Nebius and CoreWeave turned positive in pre-market trading, shaking off the shadow of Meta's plan to build its own cloud business.
According to Mars Finance, on July 2nd, based on BIT (bit.com) market data, the pre-market share prices of US computing power leasing companies Nebius and CoreWeave turned positive, rising 3% and 2% respectively, after closing down 17% and 14% respectively yesterday. Yesterday's news that "Meta plans to build its own cloud business and sell surplus AI computing power" triggered a market-wide decline in computing power leasing companies.