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DeepSeek's popularity surges, driving Kingsoft Cloud (KC.US) up more than 11% before the market opens.

Market IntelMonday, Jan 27, 2025 9:00 am ET

1min read

On Monday, Kingsoft Cloud (KC.US) rose more than 11% before the US market opened, reaching US$12.046. The news was that DeepSeek had caused a stir in the US tech industry, and the latest released DeepSeek-R1 open-source model performed exceptionally well. Last year, Lei Jun reportedly paid Rolf Li, a key developer of DeepSeek, a million yuan to join Xiaomi, and Li will directly become one of the leaders of Xiaomi's large language model team. Xiaomi hopes Li can optimize and improve the efficiency and experience of Xiaomi's AI large language model based on his experience in developing DeepSeek-V2.

Everbright Securities pointed out that in the next three years, Kingsoft Cloud will continue to provide cloud services for Kingsoft and Xiaomi Group, and will benefit from the promotion of WPS AI commercialization of Kingsoft's office business + cloud game publishing and operation; Xiaomi Group's intelligent driving training research and development + autonomous driving data storage + mobile × AIoT division will continue to develop, and the Company's revenue from the ecosystem is expected to continue to grow.

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