On June 10, GDS Holdings rose 3.32% in regular trading, trading at 34.78 HKD/share, with trading volume of 49.95 million HKD.

On the news front, Goldman Sachs published a report identifying the cloud and data center sub-industry as its most favored sector for the second half of the year, with GDS Holdings listed as a key recommended name alongside Alibaba, VNET Group, and Kingsoft Cloud. The bank estimates that ByteDance, Baidu, Alibaba, and Tencent (BBAT) will collectively spend USD 100 billion in full-year capital expenditure, with heavier weighting in the second half, which is expected to support accelerating quarterly growth for data center operators.

Additionally, GDS recently signed a strategic cooperation agreement with the Ulanqab municipal government to invest over 30 billion yuan over five years to build multiple high-density data center parks with over 80% green electricity coverage, forming a large-scale zero-carbon data center cluster. However, concerns remain over profit quality after one-time gains from the DayOne equity transaction accounted for over 80% of Q1 net income, alongside a 300-to-500 billion yuan capex plan pressuring near-term financials.

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