Kingsoft Cloud Holdings Ltd (KC) Form 6-K — May 27, 2026

Kingsoft Cloud Holdings reported Q1 2026 revenue of RMB2.7 billion (US$392 million), a 37.2% year-over-year increase driven by surging demand for AI services. AI gross billing grew 90% YoY, accounting for more than half of public cloud revenue for the first time, signaling a successful pivot toward high-growth AI infrastructure. Despite top-line strength, the company posted a GAAP net loss of RMB343.7 million (US$49.8 million) and saw gross margins compress to 12.8% from 16.2% a year ago. The margin contraction reflects heavy upfront investments in AI computing resources and servers, with capital expenditures and leased assets totaling RMB3 billion in the quarter.

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