VNET Group (VNET) Gets 14.88% Boost From 40MW Capacity Order

We recently published 10 Stocks Investors Are Gobbling Up. VNET Group, Inc. (NASDAQ:VNET) is one of the best performers on Thursday.

VNET Group soared by 14.88 percent on Thursday to close at $9.11 apiece following news that it secured a 40-megawatt order from an internet giant to support operations of its new Gu’an IDC campus in Beijing.

In a statement, VNET Group, Inc. (NASDAQ:VNET) said it would deliver the order capacity in phases.

The Gu’an IDC Campus—a large-scale wholesale campus in Hubei province—is equipped to meet surging AI-driven demand from high-tech sectors, including AI tech, high-performance computing, and advanced manufacturing.

“This order underscores our strong execution and ability to attract leading customers in a competitive market,” said VNET Group, Inc. (NASDAQ:VNET) Executive Chairperson and interim CEO Josh Sheng Chen.

“To fulfill this customer’s specific needs, we will provide reliable, customized services that enable the customer to deploy domestic chips for its core business. As demand for enhanced computing capabilities increases, the domestic chip sector serves as a crucial future growth engine for our IDC business,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.