U.S. stocks movement: Kingsoft Cloud rises nearly 4% pre-market as Morgan Stanley is optimistic about its rapid AI revenue growth
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Glonghui, July 10｜Morgan Stanley released a research report recently, initiating coverage on Kingsoft Cloud with an “Overweight” rating and a target price of $15. The report is optimistic about the company’s transformation from a mid-market general cloud service provider to an AI cloud service provider. Its AI revenue is growing rapidly, profitability continues to improve, and it counts on the strong ecosystem support of Xiaomi and Kingsoft Group.
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