Kingsoft Cloud Holdings Limited reported record second-quarter 2026 revenue of RMB3,072.0 million ($452.8 million), up 30.8% year over year and 13.6% from the first quarter, exceeding the analyst consensus estimate of $447.80 million. Public cloud revenue rose 45.1% to RMB2,357.6 million, driven by AI-related demand, while AI cloud gross billings increased 82% to RMB1,327 million and represented 56% of public cloud revenue. Enterprise cloud revenue fell 1.3% year over year to RMB714.3 million but rose 1.0% sequentially. Adjusted gross profit increased to RMB471.7 million, with adjusted gross margin improving to 15.4%. The company reported RMB23.0 million in GAAP operating profit and RMB124.0 million in adjusted operating profit, producing a 4.0% adjusted margin. Adjusted loss was 3 cents per American depositary share, better than the 10-cent analyst consensus. Cash and cash equivalents totaled RMB4,674.3 million as of June 30, while second-quarter capital expenditures, including assets financed through leasing arrangements, reached RMB3.3 billion. Existing market data showed shares closing at HK$5.62, down 4.75%, while a separate Benzinga Pro snapshot later showed the Nasdaq-listed shares up 8.12% at $11.72 during Wednesday trading.