China's AI group Phancy rises on plan to buy GPU servers for API business

Phancy

30/04/2026 05:08

** Phancy Group 6682.HK rises 4% to HK$36.62; set for biggest one-day pct gain since April 20

** Stock hits highest since April 27; set to snap seven-session losing run

** Chinese AI platform and applications co proposes to buy GPU servers used for model inference, training, and related accessories for 400 mln yuan ($58.5 mln)

** Says will use servers for its Application Programming Interface business to meet growing market demand for API calls

** YTD, stock down 17.3%, Hang Seng Tech Index .HSTECH down 11.9%

($1 = 6.8377 Chinese yuan renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))