VNET Group, Inc (NASDAQ:VNET) is one of the best rising AI stocks to buy now. On March 5, 2026, The Star, citing Bloomberg, reported that VNET had secured a record order from ByteDance to provide about 500 megawatts of data center capacity in China. According to the report, ByteDance is seeking more computing and storage capacity to support the growth of its flagship chatbot Doubao and other artificial intelligence technologies. No financial terms or other deal details were disclosed.
The reported order is large relative to VNET’s existing wholesale footprint. As of the end of September 2025, the company had 783 megawatts of wholesale capacity in service, with 582 megawatts already utilized by customers. The report also noted that VNET and ByteDance did not respond to requests for comment. VNET’s customers include Tencent, JD.com, and Alibaba, while its net revenue in the July-September quarter rose about 22% year over year to 2.58 billion yuan, including 1.95 billion yuan from internet data center services.
VNET Group, Inc is a China-based carrier- and cloud-neutral internet data center services provider. The company provides hosting and related services, including IDC services, cloud services, and business VPN services, to support customers’ internet infrastructure.
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