10 Firms That Soared Last Week

6. VNET Group Inc. (NASDAQ:VNET)

VNET Group saw its share prices surge by 29 percent in the first trading week of the month, to end Friday at $9 apiece as investors snapped up shares in the company over continued optimism about its business, as it seeks to ride the booming AI industry by heavily expanding in AI.

In its last earnings call, VNET announced higher capital spending this year on the back of robust demand for its wholesale services. It underscored that it would work closely with its strategic suppliers and maximize the synergies in order to ensure that its capital spending would grow at a steady pace.

At the same call, the company expects to deliver approximately 191 megawatts (MW) of IT capacity until the first quarter of 2025, as well as some 105 MW in the second and third quarters of 2025.