New York, Jan 8, 2026, 12:56 ET — Regular session
- VNET shares are sharply higher in midday trade, tracking a rally in U.S.-listed China data-center names.
- Traders have latched onto technical momentum after the stock pushed above a long-term trend line this week.
- Next up: Friday’s U.S. payrolls report and any fresh signals on China’s AI chip policy.
VNET Group Inc shares jumped nearly 10% on Thursday, rising 9.8% to $10.22 by midday trading and touching a session high of $10.22. About 3.6 million shares had changed hands by 12:48 p.m. ET, after the stock opened at $9.50.
The gains put the spotlight back on China-focused data-center stocks, a corner of the market investors use to price demand for computing power tied to artificial intelligence. It’s a small group, prone to big swings, and it tends to move on sentiment as much as on statements.
In Hong Kong, three newly listed Chinese technology firms ended their debut session higher on Thursday after raising about $1.19 billion, offering a fresh read on investor appetite for AI and chip plays. “China’s AI story is only beginning to unfold,” Marco Sun, chief financial market analyst at MUFG (China), said. Reuters
VNET moved with peer GDS Holdings, up about 8% in New York, even as U.S. markets were mixed around midday with heavyweight tech shares slipping.
Chart watchers have also pointed to VNET’s push above its 200-day moving average this week, a long-term trend line often used to gauge momentum. VNET cleared that level near $8.72 on Tuesday, MarketBeat data showed.
But the trade is headline-driven, and China tech names can turn fast on policy. Reuters reported on Wednesday that Beijing had asked some Chinese tech companies to halt orders for Nvidia’s H200 chips and was expected to mandate domestic AI chip purchases, a reminder that the supply chain for AI hardware remains a moving target.
