Kingsoft Cloud Secures 10+ Billion Yuan Budget from Xiaomi, 5-Year Deal with Alibaba

According to Jie Jie News, Kingsoft Cloud is accelerating GPU cluster construction in the second half of 2026 to meet surging demand from major clients. Xiaomi's GPU requirements have expanded from 10,000-card clusters, with its budget allocation increasing from approximately 4 billion yuan to over 10 billion yuan. Alibaba's AI team signed a 5-year GPU rental contract with Kingsoft Cloud covering over 3,000 eight-card GPU servers, with projected annual revenue exceeding 4 billion yuan upon full delivery.

To meet escalating demand, Kingsoft Cloud raised its 2026 capital expenditure plan to 15 billion yuan, targeting annual revenue of 12.5 to 13.5 billion yuan.