VNET Group (VNET) Climbs 10.9% on China AI Boom

Group 1 - VNET Group, Inc. (NASDAQ:VNET) experienced a significant share price increase of 10.91 percent, closing at $10.37, driven by investor interest in Chinese firms benefiting from the AI boom [1][3] - Alibaba Group has increased its investment in the AI sector to $53 billion, making it a core priority alongside e-commerce, which has contributed to overall investor optimism [2] - The Chinese AI sector has shown substantial growth, expanding by 24 percent year-on-year to reach 900 billion yuan, with over 5,300 AI companies now operating in China, representing 15 percent of the global total [3]