Topic：Kingsoft Cloud

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Kingsoft Cloud third-quarter earnings preview: Easing compute constraints supports growth, while profit and funding remain constrained

Goldman Sachs expects Kingsoft Cloud’s third-quarter revenue to grow 34% year on year, driven mainly by accelerating demand from Xiaomi and the Kingsoft group. However, a return to normal expenses puts operating profit below consensus, while expansion also depends on customer prepayments and GPU leasing. Goldman maintains its Buy rating and cuts its target price to 15.5 US dollars.

Goldman Sachs · 2026.10.30 02:44

Kingsoft Cloud third-quarter preview: Easing compute constraints drives growth, while margins and valuation remain under pressure

Goldman Sachs expects Kingsoft Cloud’s third-quarter revenue to grow 34% and AI cloud revenue to grow 81%, driven mainly by demand from Xiaomi and Kingsoft and improved GPU supply. But a return to normal expense levels weighs on operating profit, expansion depends on customer prepayments and leasing support, and the target price has been cut to 15.5 dollars due to a higher discount rate.

Goldman Sachs · 2026.10.30 02:45