Pre-market trend | GDS-SW (9698.HK) 5/8 Data center concept active, are the main players positioning?

As of the close on May 8, GDS-SW's MACD daily line formed a bullish signal above the zero axis, indicating a medium-term trend direction leaning towards bullish, with buying power gradually accumulating. The trading volume that day was approximately HKD 219 million, with increased volume indicating a resurgence of market interest in the data center sector. As a leading third-party data center operator in China, GDS's recent performance is closely tied to the investment boom in AI computing infrastructure. On the news front, NVIDIA announced a $2.1 billion investment to expand its data centers and signed a $3.4 billion AI cloud contract, reigniting market enthusiasm for the global demand for data center expansion. CoreWeave's financial report shows that the proportion of inference computing consumption has exceeded half, suggesting that the demand for data centers from the AI inference side may exceed previous expectations. GDS has a strong layout of quality data center resources in China, and against the backdrop of an explosive demand for AI large model training and inference computing, its capacity utilization and new signed orders are expected to continue improving. The overall capital inflow into the Hong Kong stock cloud and data center sector is significant. From a technical perspective, after experiencing prior adjustments, the stock price has stabilized and rebounded, with short-term moving averages beginning to turn upward. If it can break through the upper edge of the recent fluctuation range with increased volume, it is expected to confirm the start of a new upward phase. Attention should be paid to the performance of similar U.S. stocks IREN and CoreWeave as they may influence the sentiment in the Hong Kong stock data center sector. The short-term trend is leaning towards bullish, with the AI industry catalyzing a clear growth narrative for data center stocks