青云科技与金山云近期动态：AI业务进展与市场表现

Recent Events - Qingyun Technology (688316) benefits from favorable policies and business progress, with the Ministry of Industry and Information Technology issuing a plan to promote high-quality development of industrial internet platforms from 2026 to 2028, encouraging deep integration with AI technology. Qingyun's AI computing cloud service platform "CoresHub" launched the GLM-4.7 model, aiming to provide stronger intelligent support for enterprises. The company's Q3 2025 report shows a year-on-year reduction in losses, stable growth in gross margin, and over 35 new projects implemented on the AI computing platform [1][2]. Stock Performance - The stock experienced significant growth in mid-January 2026 due to the active AI application concept [2]. Financial Performance - Kingsoft Cloud (KC.O) reported strong performance, with Q3 2025 revenue increasing by 31.4% to 2.48 billion yuan, and adjusted EBITDA significantly exceeding market expectations. AI-related demand was the core driver, with public cloud revenue growing by 49.1% and AI billing revenue increasing by nearly 120% [3]. Industry Policy and Environment - The Chinese cloud computing market, particularly in the PaaS and SaaS sectors, is viewed by institutions as having long-cycle growth potential. Kingsoft Cloud's rapid development in AI business has attracted market attention [4].