Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Kingsoft Cloud Holdings Ltd ( (HK:3896) ) has provided an update.
Kingsoft Cloud Holdings Ltd has successfully completed the placement of 338 million new shares, raising approximately HK$2.8 billion. The proceeds will be used to support the company’s AI business and enhance its cloud service capabilities, as well as for general corporate purposes. This strategic move aims to strengthen Kingsoft Cloud’s market position in the cloud computing industry by expanding its infrastructure and service offerings.
The most recent analyst rating on (HK:3896) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on Kingsoft Cloud Holdings Ltd stock, see the HK:3896 Stock Forecast page.
More about Kingsoft Cloud Holdings Ltd
Kingsoft Cloud Holdings Ltd is a company incorporated in the Cayman Islands, primarily operating in the cloud computing industry. It focuses on providing cloud services and infrastructure, with a significant emphasis on expanding its artificial intelligence business.
Average Trading Volume: 124,885,878
Technical Sentiment Signal: Buy
Current Market Cap: HK$34.43B
Find detailed analytics on 3896 stock on TipRanks’ Stock Analysis page.