AI产业前瞻报告(四):从美股科技公司资本开支看国内互联网行业:AIDC行情将如何演绎?

光大证券股份有...
08 Mar

23 年以来美股科技巨头的投资逻辑和AI 叙事出现多次变化。23 年涨幅较好的Meta、亚马逊股价并非单纯由AI 叙事驱动,投资主线在于顺周期业务复苏;微软和谷歌在于AI 乐观预期能否在云业务上兑现,亚马逊在戴维斯双击行情下能够容忍AWS 营收增速放缓。24 年高额资本开支逐渐成为大型云厂商业绩的拖累,云业务营收能否加速增长成为科技巨头最重要的投资主线。复盘2023 年至今美股云厂商股价,AIDC...

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