VNET Group, Inc. (NASDAQ:VNET) saw a 12.94% surge in stock price on Friday, closing at $8.29 per share due to strong revenue performance surpassing analyst expectations in Q2.

Despite the revenue growth of 20% to 4.68 billion yuan in the first half, VNET Group swung to a net loss of $11.98 million from a previous net profit of $63.67 million.

Founder and Executive Chairman Josh Sheng Chen of VNET Group, Inc. (NASDAQ:VNET) expressed plans to enhance competitive advantages with faster deliveries and reliable IDC services under the Hyperscale 2.0 framework for building greener, more intelligent data centers.

VNET Group maintains a revenue target of 9.15 billion yuan to 9.35 billion yuan for 2025, anticipating a year-on-year growth of 11 to 13 percent. Investors are advised to consider other AI stocks with potentially higher returns and limited downside risk.

Read more at Yahoo Finance: VNET Group (VNET) Soars on Strong Revenues