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ADRs of Alibaba Group/ GDS Holdings Rally 8%; Kingsoft Cloud's ADR Soars 19%
2025-07-16 08:19:18 US-listed China concept stocks inclined, with the Nasdaq Golden Dragon China Index climbing 2.8% overnight (15th). Of which, Alibaba Group (BABA.US)'s ADR rallied 8.1% to US$116.97, while the ADRs of GDS Holdings (GDS.US) and Kingsoft Cloud (KC.US) soared 7.8% and 18.7% respectively. The US government eased restrictions on the export of AI chips to China by Nvidia (NVDA.US) and Advanced Micro Devices (AMD.US). Moreover, Moonshot, an AI startup invested by Alibaba, released its open-source large language model Kimi K2 last week, challenging products from OpenAI and Anthropic with its open-source and low-cost approach. Kingsoft Cloud recently announced its connection with the Kimi K2 model. ~ AASTOCKS Financial News Website: www.aastocks.com | |