10 Stocks Kick Off Trading Week With Losses

6. Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) fell by 8.84 percent on Tuesday to end at $18.97 apiece as investors turned into sellers to book profits following a surge in its prices on Friday.

Last week’s investor optimism was fueled by news highlighting a breakthrough from China’s AI platform, DeepSeek, and that its continued advancements were expected to accelerate the creation of AI applications in China and benefit Chinese firms, including KC.

Lyon also significantly raised its price target for KC by 272 percent to $20.5 from $5.5 previously.

KC has been earning a boost from DeepSeek over the past few weeks, particularly after Xiaomi, led by its chairman Lei Jun, poached one of DeepSeek’s top developers, Luo Fuli, to join Xiaomi’s AI development team.

The news boosted investor sentiment on hopes that any AI development in Xiaomi will create a domino effect on Kingsoft’s business in cloud computing.