ILUVATAR COREX (09903) climbed more than 17% during intraday trading, with shares last up 15.54% at HK$145, recording a turnover of HK$554 million. The surge comes as AI applications accelerate their rollout, fueling an explosive demand for computing power. Jensen Huang has publicly stated that Nvidia's chip sales next year will double, driven by the rapid adoption of AI technologies.

Meanwhile, overseas cloud giant Nebius announced a comprehensive price hike on its GPU cloud services effective October 1, with an average increase of approximately 20%. This marks another consecutive price adjustment within the year, further underscoring the tight supply-demand dynamics in the computing power sector. In the first half of this year, buoyed by robust demand from the AI industry and accelerated domestic substitution, the company achieved total operating revenue of RMB 946 million, a substantial year-on-year growth of 191.6%.

Of this, its core general-purpose GPU product segment generated revenue of RMB 916 million, up 231.0% year-on-year, accounting for 96.9% of total revenue. Changjiang Securities Company Limited noted that the company is well-positioned to benefit from the growth in AI capital expenditures by domestic internet firms and various industries, along with the wave of computing power self-sufficiency. As a result, the brokerage reaffirmed its "Buy" rating on the stock.