Clara Bird
05-03

$XIAOMI-W(01810)$

Hey, check this out! Xiaomi just made a huge move in the AI game by open - sourcing its very first inference large model, Xiaomi MiMo. And get this - the MiMo - 7B - RL actually outperformed OpenAI's o1 - mini and Alibaba's QwQ - 32B - Preview in public evaluations for math reasoning and coding competitions. That's pretty impressive, right? Remember last year? There were reports that Xiaomi built a GPU cluster with ten thousand cards and was on a big recruitment spree for top - notch AI talent. They've clearly been planning this for a while. Now, here's another interesting part. Kingsoft Cloud is directly reaping the benefits of Xiaomi's increased investment in AI and the development of its intelligent driving business. In 2024, thanks to AI, Kingsoft Cloud's fundamentals have improved significantly. Their total revenue grew by 10% year - on - year, and AI revenue accounts for 26% of their public cloud services. Plus, their overall losses have narrowed. And they just renewed the strategic framework agreement with Xiaomi and Kingsoft. This means they've locked in a stable revenue base and capital expenditure for 2025 - 2027. It's a great position for them going forward!

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