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UBS

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Headlines · 7

  1. Power equipment firms queue for Hong Kong IPOs as AI power demand meets tariffs

    Chinese power-equipment shares have fallen sharply since May 2026, with many halving from their highs, after a US executive order on 27 August 2026 barred federal procurement or installation of some foreign-made large power system equipment and software, and UBS cut its rating on the sector in September. Yet leaders such as Sieyuan Electric and Eaglerise are still filing Hong Kong prospectuses for A+H listings, mainly to fund overseas capacity and localisation. The article lists the AI power-supply chain as one of three drivers of the boom, citing IEA figures that data centres, AI and crypto together used more than 850 TWh in 2025 and may top 1,050 TWh by the end of 2026.

    钛媒体 · 🔥 5
  2. Stocks Slide on Hot Inflation and AI Credit Fears

    Bloomberg's "The Close" reported that stocks slid into the Oct. 14 close as hot inflation data and worries about AI-related credit weighed on markets. Guests included Vanguard President & CIO Greg Davis, UBS analyst Erika Najarian, Janus Henderson CEO Ali Dibadj, Cisco Chair & CEO Chuck Robbins and Blackstone global head of digital infrastructure Mike Forman, with discussion spanning markets and infrastructure financing. The source provides no index levels, percentage moves, inflation figures or specifics on the AI credit concerns.

    Bloomberg Technology · 🔥 0
  3. Delta Q3 revenue hits record on AI server power demand

    Delta Electronics reported third-quarter consolidated revenue of NT$197.059 billion, up 7.5% quarter on quarter and about 31.1% year on year, a record for a single quarter; September revenue was NT$65.4 billion, up 1.3% sequentially and 14.6% year on year, while the first nine months totaled NT$539.668 billion, up 37.2%. The company said strong AI server and data-center power demand drove the mix, with power and components at 51% of September revenue and infrastructure at 35%; chairman Cheng Ping said it has not yet seen signs of AI buildout demand slowing and expects AI-related revenue to exceed 25% of the total this year, up from 18% last year, with liquid-cooling products above 12%. Analysts expect double-digit sequential growth in the fourth quarter on higher AI server power shipments, volume production of a new-generation power rack and high-voltage DC products, while UBS estimates the global AI server power market will grow from US$17.7 billion in 2026 to US$38.2 billion in 2027.

    科技新报 · 🔥 0
  4. Kling AI plans Hong Kong IPO as early as 2027, raising at least $1B

    Bloomberg reports that Kling AI, Kuaishou's video-generation business, plans a Hong Kong IPO as early as 2027, raising at least $1 billion, with CICC, Goldman Sachs and UBS underwriting. The report says Kling began independent fundraising in July with backing from Tencent, Alibaba Cloud, Baidu and others, and that based on late-August capital-increase data it is valued at about 122.8 billion yuan — above Kuaishou's market value at the time; the same account cites cumulative losses of more than 2 billion yuan from full-year 2025 through this year's first quarter. The article also says AI micro-dramas accounted for roughly 122,000 of about 128,000 short dramas released in Q1, or 95.3%, while hit and break-even rates remain very low as the sector consolidates.

    36氪 人工智能 · 🔥 0
  5. Zhipu's GLM release cycle is turning Chinese LLM makers into 'product-cycle stocks'

    An analysis republished by 36Kr (originally from Silicon-Based Observation Pro) argues Chinese large-model companies are increasingly priced like carmakers — 'product-cycle stocks' whose valuations reset with every model release. It cites Zhipu: shares listed at HK$116.2 (about HK$51.8bn market value), peaked at HK$1.07tn on June 22, and fell to HK$696 and roughly HK$324.1bn by October 7, down 76.6% from the high, even as API calls and ARR kept growing. Three of four major model launches this year lifted the stock on the day (average +12.3%), including GLM-5 on February 12 (+28.68%, then +56.22% over five sessions) and open-sourced GLM-5.2 on June 17 (+12.62%); GLM-5.3 on August 14 fell 3.57% after a 40% pre-release run-up.

    36氪 人工智能 · 🔥 0
  6. Kling AI Reportedly Prepares Hong Kong IPO, Testing Kuaishou’s Valuation

    Kling AI has reportedly selected CICC, Goldman Sachs and UBS to prepare a Hong Kong IPO that could raise at least $1 billion, with a target as early as 2027; the timing and size may change. The analysis argues that a separate listing could give AI-video investors a direct investment option while forcing Kuaishou Technology to justify the value of its advertising, e-commerce and livestreaming businesses, as well as its capital allocation.

    36氪 人工智能 · 🔥 0
  7. Kling AI picks CICC, Goldman Sachs, UBS for $1B-plus Hong Kong IPO

    Kling AI, the AI video generation unit spun out of Kuaishou Technology, has selected China International Capital Corp., Goldman Sachs and UBS to work on a Hong Kong initial public offering that could raise at least $1 billion, Bloomberg reported via The Information, with a listing targeted as soon as next year. TMTPost said the target is as early as 2027, while AIbase said 2026; Kling has not publicly commented and timing and size remain subject to change. TMTPost reported Kling revenue of more than 850 million yuan in the second quarter of 2026, up over 200% year on year, while Kuaishou group revenue rose 1.4% to 35.535 billion yuan; after a July 2026 capital increase, Kuaishou entities retained roughly 68% of the restructured Kling entity and a majority of voting power.

    The Information · 🔥 0

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