{"id":46825,"date":"2026-05-14T04:04:52","date_gmt":"2026-05-14T04:04:52","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e7%94%b2%e9%aa%a8%e6%96%87%e5%87%ad%e5%80%9f-ai-%e8%ae%a2%e5%8d%95%e7%a7%af%e5%8e%8b%e6%94%af%e6%92%91%e8%b5%84%e6%9c%ac%e5%bc%80%e6%94%af\/"},"modified":"2026-05-14T04:04:52","modified_gmt":"2026-05-14T04:04:52","slug":"%e7%94%b2%e9%aa%a8%e6%96%87%e5%87%ad%e5%80%9f-ai-%e8%ae%a2%e5%8d%95%e7%a7%af%e5%8e%8b%e6%94%af%e6%92%91%e8%b5%84%e6%9c%ac%e5%bc%80%e6%94%af","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/analysis\/%e7%94%b2%e9%aa%a8%e6%96%87%e5%87%ad%e5%80%9f-ai-%e8%ae%a2%e5%8d%95%e7%a7%af%e5%8e%8b%e6%94%af%e6%92%91%e8%b5%84%e6%9c%ac%e5%bc%80%e6%94%af\/","title":{"rendered":"\u7532\u9aa8\u6587\u51ed\u501f AI \u8ba2\u5355\u79ef\u538b\u652f\u6491\u8d44\u672c\u5f00\u652f"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarketsmy.com\/cn\/wp-content\/uploads\/sites\/4\/2026\/05\/1_ORCL1-1024x573.webp\" alt=\"\" class=\"wp-image-50115\"\/><\/figure>\n\n\n\n<p><strong>\u91cd\u70b9<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u7532\u9aa8\u6587\uff08Oracle\uff09\u80a1\u4ef7\u62a5<strong>189.98<\/strong>\uff0c\u4e0a\u6da8<strong>4.13<\/strong>\u6216<strong>2.2%<\/strong>\uff0c\u76d8\u4e2d\u4e00\u5ea6\u89e6\u53ca<strong>191.43<\/strong>\u9ad8\u4f4d\u3002<\/li>\n\n\n\n<li>Wedbush\u8868\u793a\uff0c\u7532\u9aa8\u6587\u7684AI\uff08\u4eba\u5de5\u667a\u80fd\uff09\u6295\u5165\u6709\u660e\u786e\u5ba2\u6237\u9700\u6c42\u4e0e\u957f\u671f\u5408\u7ea6\u652f\u6301\uff0c\u4e0d\u662f\u201c\u8d4c\u672a\u6765\u201d\u7684\u76f2\u76ee\u6269\u5f20\u3002<\/li>\n\n\n\n<li>\u7532\u9aa8\u6587\u201c\u8d44\u672c\u5f00\u652f\/\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff08RPO\uff09\u201d\u6bd4\u7387\u7ea6<strong>9%<\/strong>\uff0c\u663e\u8457\u4f4e\u4e8e\u540c\u4e1a\u5e73\u5747<strong>33.6%<\/strong>\u3002<\/li>\n\n\n\n<li>\u5168\u7403\u5e02\u573a\u5bf9AI\u7684\u70ed\u60c5\u4ecd\u5f3a\uff0c\u4f46\u901a\u80c0\u504f\u9ad8\u4e0e\u5229\u7387\u53ef\u80fd\u7ef4\u6301\u9ad8\u4f4d\uff0c\u6216\u9650\u5236\u4f30\u503c\u4e0a\u884c\u7a7a\u95f4\u3002<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p>Wedbush\u8ba4\u4e3a\uff0c\u5e02\u573a\u53ef\u80fd\u8bef\u8bfb\u7532\u9aa8\u6587\u8fd9\u4e00\u8f6eAI\u6295\u5165\u5468\u671f\uff0c\u5e26\u52a8\u80a1\u4ef7\u8d70\u9ad8\u3002\u8be5\u80a1\u5728<strong>05\/13 22:59:58 GMT+3<\/strong>\u62a5<strong>189.98<\/strong>\uff0c\u4e0a\u6da8<strong>4.13<\/strong>\u6216<strong>2.2%<\/strong>\u3002\u76d8\u4e2d\u9ad8\u70b9<strong>191.43<\/strong>\uff0c\u4f4e\u70b9<strong>185.04<\/strong>\uff0c\u5f00\u76d8<strong>188.14<\/strong>\uff0c\u524d\u6536<strong>185.85<\/strong>\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">To Wall Street, Oracle is a screaming buy. To many investors, however, the company\u2019s relationship with OpenAI, its sizable debt load and the durability of its software business have made owning the stock a risk. <a href=\"https:\/\/t.co\/KgcOAs4eZT\">https:\/\/t.co\/KgcOAs4eZT<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/2050163328446537923?ref_src=twsrc%5Etfw\">May 1, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Wedbush\u5c06\u7532\u9aa8\u6587\u504f\u9ad8\u7684\u8d44\u672c\u5f00\u652f\uff08capex\uff1a\u4f01\u4e1a\u7528\u4e8e\u5efa\u8bbe\u6570\u636e\u4e2d\u5fc3\u3001\u670d\u52a1\u5668\u3001\u7f51\u7edc\u7b49\u201c\u786c\u8d44\u4ea7\u201d\u7684\u6295\u5165\uff09\u5b9a\u4e49\u4e3a\u7b56\u7565\u6027\u6295\u8d44\uff0c\u800c\u975e\u8d44\u4ea7\u8d1f\u503a\u8868\u538b\u529b\u4fe1\u53f7\u3002\u8be5\u673a\u6784\u8868\u793a\uff0c\u7532\u9aa8\u6587\u6b63\u5728\u4e3aAI\u5468\u671f\u7684\u4e0b\u4e00\u9636\u6bb5\u505a\u51c6\u5907\uff0c\u5728\u8fd9\u4e00\u9636\u6bb5\uff0c\u57fa\u7840\u8bbe\u65bd\u3001\u8fd0\u7b97\u6548\u7387\u4e0e\u6570\u636e\u83b7\u53d6\u80fd\u529b\u4f1a\u66f4\u5173\u952e\u3002<\/p>\n\n\n\n<p>\u7532\u9aa8\u6587\u201c\u8d44\u672c\u5f00\u652f\/\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff08RPO\uff09\u201d\u6bd4\u7387\u7ea6<strong>9%<\/strong>\uff0c\u540c\u4e1a\u5e73\u5747\u7ea6<strong>33.6%<\/strong>\u3002\u8fd9\u610f\u5473\u7740\u516c\u53f8\u652f\u51fa\u66f4\u50cf\u662f\u5728\u6ee1\u8db3\u5df2\u7b7e\u7ea6\u8ba2\u5355\u7684\u9700\u6c42\uff0c\u800c\u4e0d\u662f\u8ffd\u9010\u4e0d\u786e\u5b9a\u589e\u957f\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u591a\u5934\u903b\u8f91\u66f4\u6e05\u6670\uff1a\u7532\u9aa8\u6587\u4e0d\u53ea\u662f\u8bb2\u201c\u4e91\u8ba1\u7b97\u6545\u4e8b\u201d\u3002\u516c\u53f8\u8981\u8bc1\u660e\u5176AI\u57fa\u7840\u8bbe\u65bd\u6269\u5f20\uff0c\u80fd\u628a\u201c\u8ba2\u5355\u50a8\u5907\u201d\u8f6c\u5316\u4e3a\u6536\u5165\u3001\u5ba2\u6237\u7559\u5b58\uff08\u5ba2\u6237\u7eed\u7ea6\u4e0e\u6301\u7eed\u4f7f\u7528\uff09\u4ee5\u53ca\u5229\u6da6\u7387\u63d0\u5347\uff08\u6bcf\u5355\u4f4d\u6536\u5165\u5e26\u6765\u66f4\u591a\u5229\u6da6\uff09\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u8ba2\u5355\u50a8\u5907\u8ba9\u7532\u9aa8\u6587\u7684AI\u903b\u8f91\u66f4\u6709\u8bf4\u670d\u529b<\/h2>\n\n\n\n<p>\u7532\u9aa8\u6587\u7684\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff08RPO\uff1a\u5df2\u7b7e\u5408\u7ea6\u4f46\u5c1a\u672a\u786e\u8ba4\u5165\u8d26\u7684\u672a\u6765\u6536\u5165\u603b\u989d\uff0c\u53ef\u7406\u89e3\u4e3a\u201c\u5df2\u9501\u5b9a\u7684\u5f85\u4ea4\u4ed8\u6536\u5165\u201d\uff09\u5df2\u6210\u4e3a\u6295\u8d44\u8bba\u70b9\u6838\u5fc3\u3002\u591a\u4efd\u5206\u6790\u5e08\u62a5\u544a\u63d0\u5230\uff0c\u7532\u9aa8\u6587RPO\u7ea6<strong>5530\u4ebf\u7f8e\u5143<\/strong>\uff0c\u4e3a\u4ea4\u6613\u5458\u63d0\u4f9b\u53ef\u8ffd\u8e2a\u7684\u201c\u5df2\u7b7e\u7ea6\u6536\u5165\u6c60\u201d\uff0c\u7528\u6765\u89c2\u5bdf\u4e91\u57fa\u7840\u8bbe\u65bd\u9700\u6c42\u6269\u5f20\u7684\u5151\u73b0\u901f\u5ea6\u3002<\/p>\n\n\n\n<p>\u4e89\u8bae\u7126\u70b9\u8f6c\u5411\u6267\u884c\u529b\uff1a\u77ed\u671f\u5185\u9ad8\u8d44\u672c\u5f00\u652f\u4f1a\u538b\u4f4e\u81ea\u7531\u73b0\u91d1\u6d41\uff08Free Cash Flow\uff1a\u4f01\u4e1a\u7ecf\u8425\u4ea7\u751f\u3001\u6263\u9664\u5fc5\u8981\u8d44\u672c\u5f00\u652f\u540e\uff0c\u53ef\u81ea\u7531\u652f\u914d\u7684\u73b0\u91d1\uff09\uff0c\u4f46\u82e5AI\u5de5\u4f5c\u8d1f\u8f7d\uff08AI workloads\uff1a\u8fd0\u884c\u4e0e\u8bad\u7ec3AI\u6a21\u578b\u6240\u9700\u7684\u8ba1\u7b97\u4efb\u52a1\uff09\u6301\u7eed\u8f6c\u5411\u5927\u578b\u4e91\u5408\u7ea6\uff0c\u4e5f\u53ef\u80fd\u5de9\u56fa\u7532\u9aa8\u6587\u7684\u7ade\u4e89\u4f4d\u7f6e\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Michael Burry saying Anthropic was &quot;eating&quot; <a href=\"https:\/\/twitter.com\/search?q=%24PLTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PLTR<\/a> was &quot;like fire in a crowded theater,&quot; Wedbush Securities managing director <a href=\"https:\/\/twitter.com\/DivesTech?ref_src=twsrc%5Etfw\">@DivesTech<\/a> says. <br><br>&quot;That is just stroking fear,&quot; but it creates a &quot;massive opportunity&quot; to own one of the key leaders in the AI revolution, he added. <a href=\"https:\/\/t.co\/438GPx9OPM\">pic.twitter.com\/438GPx9OPM<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/2042606823073538104?ref_src=twsrc%5Etfw\">April 10, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Wedbush\u7684\u89c2\u70b9\u5f3a\u5316\u4e86\u5e02\u573a\u770b\u6cd5\uff1a\u7532\u9aa8\u6587\u662f\u5728\u4e3a\u660e\u786e\u7684\u5ba2\u6237\u9700\u6c42\u52a0\u7801\uff0c\u800c\u4e0d\u662f\u5efa\u8bbe\u95f2\u7f6e\u4ea7\u80fd\u3002<\/p>\n\n\n\n<p>\u63a5\u4e0b\u6765\u5e02\u573a\u5c06\u89c2\u5bdf\u8ba2\u5355\u50a8\u5907\u80fd\u5426\u8f6c\u5316\u4e3a\u66f4\u5f3a\u7684\u4e91\u6536\u5165\u3002\u82e5\u7532\u9aa8\u6587\u80fd\u5728\u63a8\u52a8\u57fa\u7840\u8bbe\u65bd\u4e1a\u52a1\u589e\u957f\u7684\u540c\u65f6\u63a7\u5236\u5229\u6da6\u7387\uff08margin\uff1a\u5229\u6da6\u5360\u6536\u5165\u7684\u6bd4\u4f8b\uff09\uff0c\u5e02\u573a\u53ef\u80fd\u7ed9\u4e88\u66f4\u9ad8\u7684AI\u4f30\u503c\u500d\u6570\uff08AI multiple\uff1a\u6295\u8d44\u8005\u613f\u610f\u4e3a\u76c8\u5229\u6216\u6536\u5165\u652f\u4ed8\u7684\u66f4\u9ad8\u500d\u6570\uff09\u3002\u53cd\u4e4b\uff0c\u82e5\u8d44\u672c\u5f00\u652f\u589e\u957f\u5feb\u4e8e\u6536\u5165\u5151\u73b0\uff0c\u8fd9\u4e9b\u652f\u51fa\u53ef\u80fd\u4ece\u5229\u591a\uff0c\u8f6c\u4e3a\u4f30\u503c\u98ce\u9669\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">AI\u52a8\u80fd\u5e26\u52a8\u66f4\u5e7f\u6cdb\u7684\u79d1\u6280\u80a1\u4ea4\u6613<\/h2>\n\n\n\n<p>\u7532\u9aa8\u6587\u7684\u4e0a\u6da8\u7b26\u5408\u5168\u7403\u80a1\u5e02\u7684AI\u4e3b\u5bfc\u53cd\u5f39\u3002\u5468\u56db\u4e9a\u592a\u80a1\u5e02\u8d70\u9ad8\uff0cAI\u70ed\u6f6e\u5e26\u52a8\u82af\u7247\u76f8\u5173\u80a1\uff0cMSCI\u4e9a\u592a\u6307\u6570\u4e0a\u6da8<strong>1.2%<\/strong>\uff0c\u97e9\u56fdKOSPI\u4e0a\u6da8<strong>1.7%<\/strong>\u3002SK\u6d77\u529b\u58eb\u4e5f\u66f4\u63a5\u8fd1<strong>1\u4e07\u4ebf\u7f8e\u5143<\/strong>\u5e02\u503c\uff0c\u53cd\u6620\u5e02\u573a\u4ecd\u5728\u5927\u5e45\u8ba1\u5165AI\u57fa\u7840\u8bbe\u65bd\u9700\u6c42\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Asia-Pacific stocks eye higher open as Trump lands in Beijing for high-stakes Xi meeting <a href=\"https:\/\/t.co\/Zqvs6eevSm\">https:\/\/t.co\/Zqvs6eevSm<\/a><\/p>&mdash; CNBC (@CNBC) <a href=\"https:\/\/twitter.com\/CNBC\/status\/2054711569594888617?ref_src=twsrc%5Etfw\">May 13, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u7f8e\u56fd\u5e02\u573a\u540c\u6837\u62bc\u6ce8\u8fd9\u4e00\u4e3b\u9898\u3002\u6807\u666e500\u4e0e\u7eb3\u65af\u8fbe\u514b\u5468\u4e09\u6536\u5728\u5386\u53f2\u65b0\u9ad8\uff0cAI\u76f8\u5173\u79d1\u6280\u80a1\u4e0e\u82af\u7247\u80a1\u8d21\u732e\u660e\u663e\u3002\u5373\u4f7f\u901a\u80c0\u6570\u636e\u504f\u70ed\uff0c\u5e02\u573a\u76ee\u524d\u4ecd\u66f4\u770b\u91cdAI\u5e26\u6765\u7684\u76c8\u5229\u6f5c\u529b\uff0c\u800c\u975e\u5229\u7387\u4e0a\u884c\u98ce\u9669\u3002<\/p>\n\n\n\n<p>\u5728\u8fd9\u4e00\u80cc\u666f\u4e0b\uff0c\u9760\u8fd1AI\u57fa\u7840\u8bbe\u65bd\u652f\u51fa\u7684\u516c\u53f8\u66f4\u5bb9\u6613\u83b7\u5f97\u5e02\u573a\u9752\u7750\u3002\u82f1\u4f1f\u8fbe\uff08NVIDIA\uff09\u3001<a href=\"https:\/\/www.vtmarkets.com\/opinion\/amd-stock-ai-growth-valuation-test\/\" target=\"_blank\" rel=\"noreferrer noopener\">AMD<\/a>\u3001\u7532\u9aa8\u6587\u3001\u4e91\u670d\u52a1\u5546\u4e0e\u6570\u636e\u4e2d\u5fc3\u6982\u5ff5\u80a1\u90fd\u5904\u5728\u540c\u4e00\u6761\u4e3b\u7ebf\u4e2d\u3002\u6700\u7ec8\u80dc\u51fa\u8005\u5fc5\u987b\u8bc1\u660e\uff1aAI\u9700\u6c42\u4e0d\u53ea\u5f3a\u52b2\uff0c\u800c\u4e14\u80fd\u5e26\u6765\u53ef\u89c2\u5229\u6da6\u3002<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p><strong><em>\u7406\u89e3\u5e02\u573a\uff0c\u662f\u63d0\u5347\u4ea4\u6613\u4fe1\u5fc3\u7684\u7b2c\u4e00\u6b65\u3002\u5728\u6211\u4eec\u5373\u5c06\u4e3e\u529e\u7684<a href=\"https:\/\/zoom.us\/webinar\/register\/6417787258141\/WN_EMGhsN4tRVWD7fx18c1B6w\">\u7ebf\u4e0a\u8bb2\u5ea7<\/a>\u4e2d\uff0c\u6211\u4eec\u5c06\u4ecb\u7ecd\u7f8e\u80a1\u6307\u6570\u5982\u4f55\u8fd0\u4f5c\u3001\u54ea\u4e9b\u56e0\u7d20\u63a8\u52a8\u5e02\u573a\uff0c\u4ee5\u53ca\u65b0\u624b\u5982\u4f55\u7528\u66f4\u6709\u6761\u7406\u7684\u65b9\u6cd5\u8fdb\u884c\u4ea4\u6613\u3002<\/em><\/strong><\/p><\/blockquote><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">\u901a\u80c0\u4e0e\u7f8e\u8054\u50a8\u4ecd\u53ef\u80fd\u9650\u5236\u4e0a\u884c\u7a7a\u95f4<\/h2>\n\n\n\n<p>\u5b8f\u89c2\u73af\u5883\u5e76\u4e0d\u8f7b\u677e\u3002\u7f8e\u56fd\u4e0a\u6708\u751f\u4ea7\u8005\u4ef7\u683c\uff08PPI\uff1a\u4f01\u4e1a\u51fa\u5382\u4ef7\u683c\u53d8\u5316\uff0c\u7528\u6765\u89c2\u5bdf\u901a\u80c0\u538b\u529b\uff09\u4e0a\u6da8<strong>1.4%<\/strong>\uff0c\u4e3a\u56db\u5e74\u6765\u6700\u5927\u6da8\u5e45\uff0c\u4e3b\u8981\u53d7\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u76f8\u5173\u7684\u539f\u6cb9\u4f9b\u5e94\u6270\u52a8\u5f71\u54cd\u3002\u8be5\u6570\u636e\u964d\u4f4e\u5e02\u573a\u5bf9\u7f8e\u8054\u50a8\u77ed\u671f\u964d\u606f\u7684\u671f\u5f85\uff0c\u5e76\u63d0\u9ad8\u201c\u5229\u7387\u66f4\u9ad8\u3001\u7ef4\u6301\u66f4\u4e45\u201d\u7684\u53ef\u80fd\u6027\u3002<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">US producer prices surprise with largest increase in four years <a href=\"https:\/\/t.co\/unTPGuZW5T\">https:\/\/t.co\/unTPGuZW5T<\/a> <a href=\"https:\/\/t.co\/unTPGuZW5T\">https:\/\/t.co\/unTPGuZW5T<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/2054625257672065200?ref_src=twsrc%5Etfw\">May 13, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u5229\u7387\u8d70\u9ad8\u901a\u5e38\u4f1a\u538b\u5236\u201c\u957f\u4e45\u671f\u6210\u957f\u80a1\u201d\uff08long-duration growth stocks\uff1a\u76c8\u5229\u66f4\u591a\u5728\u672a\u6765\u3001\u5bf9\u5229\u7387\u53d8\u5316\u66f4\u654f\u611f\u7684\u6210\u957f\u578b\u80a1\u7968\uff09\u7684\u4f30\u503c\uff0c\u5373\u4f7f\u76c8\u5229\u52a8\u80fd\u4ecd\u5f3a\u3002\u7532\u9aa8\u6587\u7684AI\u9898\u6750\u63d0\u4f9b\u652f\u6491\uff0c\u4f46\u5176\u80a1\u4ef7\u4ecd\u4f1a\u53d7\u503a\u5238\u6536\u76ca\u7387\u3001\u901a\u80c0\u4e0e\u7f8e\u5143\u8d70\u5f3a\u5f71\u54cd\u3002<\/p>\n\n\n\n<p>\u7279\u6717\u666e\u2014\u4e60\u8fd1\u5e73\u5cf0\u4f1a\u4e5f\u662f\u80cc\u666f\u53d8\u91cf\u3002\u5e02\u573a\u5173\u6ce8\u5317\u4eac\u4f1a\u8c08\u5bf9\u8d38\u6613\u3001\u79d1\u6280\u4e0e\u4e2d\u7f8e\u8106\u5f31\u7f13\u548c\u7684\u4fe1\u53f7\u3002\u82e5\u63aa\u8f9e\u504f\u6e29\u548c\uff0c\u79d1\u6280\u80a1\u53ef\u80fd\u53d7\u76ca\uff1b\u82e5\u5bf9\u8d38\u6613\u6216\u51fa\u53e3\u7ba1\u5236\u66f4\u5f3a\u786c\uff0c\u53ef\u80fd\u62d6\u7d2fAI\u57fa\u7840\u8bbe\u65bd\u76f8\u5173\u516c\u53f8\uff0c\u5c24\u5176\u6d89\u53ca\u82af\u7247\u3001\u4e91\u7aef\u4ea7\u80fd\u4e0e\u8de8\u5883\u9700\u6c42\u8005\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u6280\u672f\u5206\u6790<\/h2>\n\n\n\n<p>\u7532\u9aa8\u6587\u81ea4\u6708\u4f4e\u70b9\u7ea6<strong>134.55<\/strong>\u6301\u7eed\u5f3a\u52b2\u53cd\u5f39\uff0c\u76ee\u524d\u5728<strong>189.98<\/strong>\u9644\u8fd1\u4ea4\u6613\uff0cAI\u57fa\u7840\u8bbe\u65bd\u4e0e\u4f01\u4e1a\u4e91\uff08enterprise cloud\uff1a\u9762\u5411\u4f01\u4e1a\u5ba2\u6237\u7684\u4e91\u670d\u52a1\uff09\u677f\u5757\u7684\u591a\u5934\u52a8\u80fd\u56de\u5347\u3002\u8fc7\u53bb\u4e00\u4e2a\u6708\u6574\u4f53\u56fe\u8868\u7ed3\u6784\u660e\u663e\u6539\u5584\uff0c\u4f46\u80a1\u4ef7\u6b63\u903c\u8fd1\u5fc3\u7406\u5173\u53e3<strong>200<\/strong>\u4e0b\u65b9\u7684\u91cd\u8981\u963b\u529b\u533a\u3002<\/p>\n\n\n\n<p>\u4ece\u6280\u672f\u9762\u770b\uff0c\u7532\u9aa8\u6587\u4ecd\u5904\u4e8e\u504f\u79ef\u6781\u7684\u4e0a\u5347\u8d8b\u52bf\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>MA5\uff1a<\/strong>191.84\uff085\u65e5\u79fb\u52a8\u5e73\u5747\u7ebf\uff1a\u8fd15\u4e2a\u4ea4\u6613\u65e5\u7684\u5e73\u5747\u4ef7\uff0c\u7528\u4e8e\u89c2\u5bdf\u77ed\u7ebf\u8d8b\u52bf\uff09<\/li>\n\n\n\n<li><strong>MA10\uff1a<\/strong>185.28\uff0810\u65e5\u79fb\u52a8\u5e73\u5747\u7ebf\uff09<\/li>\n\n\n\n<li><strong>MA20\uff1a<\/strong>180.12\uff0820\u65e5\u79fb\u52a8\u5e73\u5747\u7ebf\uff09<\/li>\n<\/ul>\n\n\n\n<p>\u77ed\u671f\u5747\u7ebf\u4f4d\u4e8e20\u65e5\u5747\u7ebf\u4e4b\u4e0a\uff0c\u4e14\u4ef7\u683c\u4ecd\u5728\u4e3b\u8981\u8d8b\u52bf\u7ebf\u4e0a\u65b9\uff0c\u5e38\u89c1\u4e8e\u4e70\u76d8\u4e3b\u5bfc\u3001\u4e0a\u884c\u52a8\u80fd\u5065\u5eb7\u7684\u683c\u5c40\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarketsmy.com\/cn\/wp-content\/uploads\/sites\/4\/2026\/05\/image-17-1024x474.jpg\" alt=\"\" class=\"wp-image-50114\"\/><\/figure>\n\n\n\n<p>\u5173\u952e\u4ef7\u4f4d\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u77ed\u671f\u652f\u6491\uff1a<\/strong>185 \u2192 180\uff08\u652f\u6491\uff1a\u4ef7\u683c\u4e0b\u8dcc\u65f6\u8f83\u53ef\u80fd\u51fa\u73b0\u4e70\u76d8\u627f\u63a5\u7684\u533a\u57df\uff09<\/li>\n\n\n\n<li><strong>\u4e3b\u8981\u652f\u6491\uff1a<\/strong>175 \u2192 151<\/li>\n\n\n\n<li><strong>\u963b\u529b\uff1a<\/strong>190\u2013199 \u2192 207.54\uff08\u963b\u529b\uff1a\u4ef7\u683c\u4e0a\u5347\u65f6\u8f83\u53ef\u80fd\u9047\u5230\u5356\u538b\u7684\u533a\u57df\uff09<\/li>\n<\/ul>\n\n\n\n<p><strong>190\u2013199<\/strong>\u533a\u95f4\u5173\u952e\uff0c\u56e0\u4e3a\u8fd9\u662f\u672c\u8f6e\u53cd\u5f39\u7684\u4e0a\u6cbf\u30025\u6708\u521d\u80a1\u4ef7\u66fe\u89e6\u53ca\u9644\u8fd1\u540e\u56de\u843d\uff0c\u76ee\u524d\u5e02\u573a\u6b63\u5c1d\u8bd5\u518d\u6b21\u7a81\u7834\u3002<\/p>\n\n\n\n<p>\u82e5\u4e70\u76d8\u80fd\u7a81\u7834<strong>199\u2013200<\/strong>\u963b\u529b\uff0c\u80a1\u4ef7\u53ef\u80fd\u56de\u6d4b1\u6708\u9ad8\u70b9\u7ea6<strong>207.54<\/strong>\u3002\u82e5\u6709\u6548\u7ad9\u4e0a\u8be5\u6c34\u5e73\uff0c\u957f\u671f\u591a\u5934\u7ed3\u6784\u901a\u5e38\u4f1a\u66f4\u7a33\u56fa\u3002<\/p>\n\n\n\n<p>\u4e0b\u884c\u65b9\u9762\uff0c\u7b2c\u4e00\u9053\u8f83\u660e\u663e\u7684\u652f\u6491\u96c6\u4e2d\u5728<strong>180\u81f3185<\/strong>\u4e4b\u95f4\uff0c\u63a5\u8fd1\u4e0a\u5347\u4e2d\u7684<strong>10\u65e5\u4e0e20\u65e5\u5747\u7ebf<\/strong>\u3002\u53ea\u8981\u80a1\u4ef7\u5b88\u4f4f\u8fd9\u4e9b\u8d8b\u52bf\u7ebf\uff0c\u53cd\u5f39\u8d70\u52bf\u5927\u6982\u7387\u4ecd\u672a\u88ab\u7834\u574f\u3002<\/p>\n\n\n\n<p>\u672c\u8f6e\u4e0a\u6da8\u4e5f\u53cd\u6620\u6295\u8d44\u8005\u5bf9\u7532\u9aa8\u6587\u5728AI\u751f\u6001\uff08ecosystem\uff1a\u56f4\u7ed5AI\u7684\u4ea7\u4e1a\u94fe\u4e0e\u5408\u4f5c\u7f51\u7edc\uff09\u4e2d\u7684\u5b9a\u4f4d\u66f4\u4e50\u89c2\u3002\u5e02\u573a\u66f4\u503e\u5411\u628a\u7532\u9aa8\u6587\u89c6\u4e3a\u53d7\u76ca\u4f01\u4e1aAI\u9700\u6c42\u7684\u57fa\u7840\u8bbe\u65bd\u53c2\u4e0e\u8005\uff0c\u5c24\u5176\u6765\u81ea\u5176\u4e91\u7aef\u5408\u4f5c\u3001\u6570\u636e\u4e2d\u5fc3\u6269\u5efa\uff0c\u4ee5\u53ca\u627f\u8f7dAI\u5de5\u4f5c\u8d1f\u8f7d\u7684\u80fd\u529b\u3002<\/p>\n\n\n\n<p>\u8fd1\u671f\u5173\u4e8e\u201c\u8d85\u5927\u89c4\u6a21\u4e91\u5382\u5546\u201d\uff08hyperscaler\uff1a\u5982AWS\u3001\u5fae\u8f6f\u3001\u8c37\u6b4c\u7b49\u8d85\u5927\u578b\u4e91\u670d\u52a1\u5546\uff09\u652f\u51fa\u4e0eAI\u57fa\u7840\u8bbe\u65bd\u6295\u8d44\u7684\u53d9\u4e8b\uff0c\u4e5f\u5728\u534a\u5bfc\u4f53\u4e0e\u4f01\u4e1a\u8f6f\u4ef6\u677f\u5757\u5171\u540c\u652f\u6491\u80a1\u4ef7\u3002\u5e02\u573a\u540c\u6837\u5173\u6ce8\u672a\u6765\u51e0\u4e2a\u5b63\u5ea6\uff0c\u7532\u9aa8\u6587\u80fd\u5426\u6301\u7eed\u628aAI\u76f8\u5173\u9700\u6c42\u8f6c\u5316\u4e3a\u66f4\u5feb\u7684\u4e91\u6536\u5165\u589e\u957f\u3002<\/p>\n\n\n\n<p>\u53cd\u5f39\u671f\u95f4\u6210\u4ea4\u91cf\uff08volume\uff1a\u4ea4\u6613\u91cf\uff09\u76f8\u5bf9\u5e73\u7a33\uff0c\u5e76\u672a\u51fa\u73b0\u8fc7\u70ed\u8ff9\u8c61\uff0c\u8f83\u50cf\u673a\u6784\u578b\u8d44\u91d1\u9010\u6b65\u5e03\u5c40\uff08institutional accumulation\uff1a\u5927\u578b\u673a\u6784\u5206\u6279\u4e70\u5165\uff09\u800c\u975e\u77ed\u7ebf\u6295\u673a\u89c1\u9876\u3002<\/p>\n\n\n\n<p>\u76ee\u524d\uff0c\u53ea\u8981\u80a1\u4ef7\u5b88\u5728<strong>180<\/strong>\u4e0a\u65b9\uff0c\u7532\u9aa8\u6587\u77ed\u671f\u504f\u591a\u683c\u5c40\u4ecd\u5728\uff0c\u4f46<strong>199\u2013200<\/strong>\u963b\u529b\u533a\u5c06\u662f\u91cd\u8981\u6280\u672f\u8003\u9a8c\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u8c28\u614e\u5c55\u671b<\/h2>\n\n\n\n<p>\u53ea\u8981\u7532\u9aa8\u6587\u5b88\u4f4f<strong>185.28<\/strong>\u4e0e<strong>180.12<\/strong>\uff08\u5bf9\u5e9410\u65e5\u4e0e20\u65e5\u5747\u7ebf\uff09\uff0c\u8d70\u52bf\u4ecd\u504f\u6b63\u9762\u3002\u82e5\u6536\u76d8\u7ad9\u4e0a<strong>191.84<\/strong>\uff085\u65e5\u5747\u7ebf\uff09\uff0c\u77ed\u7ebf\u7ed3\u6784\u5c06\u6539\u5584\uff0c\u5e76\u6709\u671b\u4e0a\u770b<strong>199.13<\/strong>\u3002<\/p>\n\n\n\n<p>\u82e5\u7a81\u7834<strong>199.13<\/strong>\uff0c\u4e14AI\u57fa\u7840\u8bbe\u65bd\u60c5\u7eea\u7ef4\u6301\u7a33\u5065\u3001\u5e02\u573a\u7ee7\u7eed\u8ba4\u53ef\u201c\u8ba2\u5355\u652f\u6491\u7684\u8d44\u672c\u5f00\u652f\u201d\uff0c\u56de\u6d4b<strong>207.54<\/strong>\u7684\u673a\u4f1a\u5c06\u4e0a\u5347\u3002\u82e5\u8dcc\u7834<strong>180.12<\/strong>\uff0c\u6280\u672f\u9762\u5c06\u8f6c\u5f31\uff0c\u610f\u5473\u7740\u5b8f\u89c2\u538b\u529b\u3001\u5229\u7387\u98ce\u9669\u6216\u8d44\u672c\u5f00\u652f\u7591\u8651\uff0c\u5f00\u59cb\u538b\u8fc7Wedbush\u652f\u6301\u7684AI\u53d9\u4e8b\u3002<\/p>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>\u4ea4\u6613\u5458\u5e38\u89c1\u95ee\u9898<\/strong><\/summary>\n<p><strong>\u4e3a\u4ec0\u4e48\u7532\u9aa8\u6587\u80a1\u4ef7\u4e0a\u6da8\uff1f<\/strong><\/p>\n\n\n\n<p>\u7532\u9aa8\u6587\u80a1\u4ef7\u8d70\u9ad8\uff0c\u4e3b\u8981\u56e0\u4e3aWedbush\u652f\u6301\u5176AI\u6295\u5165\u7b56\u7565\u3002Wedbush\u8ba4\u4e3a\uff0c\u7532\u9aa8\u6587\u8f83\u9ad8\u7684\u8d44\u672c\u5f00\u652f\u6709\u660e\u786e\u9700\u6c42\u4e0e\u957f\u671f\u5ba2\u6237\u627f\u8bfa\u652f\u6491\uff0c\u800c\u4e0d\u662f\u7f3a\u4e4f\u4f9d\u636e\u7684\u6269\u5f20\u3002<\/p>\n\n\n\n<p>ORCL\u62a5<strong>189.98<\/strong>\uff0c\u4e0a\u6da8<strong>4.13<\/strong>\u6216<strong>2.2%<\/strong>\uff0c\u76d8\u4e2d\u4e00\u5ea6\u89e6\u53ca<strong>191.43<\/strong>\u3002<\/p>\n\n\n\n<p><strong>\u7532\u9aa8\u6587\u76ee\u524d\u80a1\u4ef7\u662f\u591a\u5c11\uff1f<\/strong><\/p>\n\n\n\n<p>\u7532\u9aa8\u6587\u62a5<strong>189.98<\/strong>\u3002\u76d8\u4e2d\u9ad8\u70b9<strong>191.43<\/strong>\uff0c\u4f4e\u70b9<strong>185.04<\/strong>\uff0c\u5f00\u76d8<strong>188.14<\/strong>\uff0c\u524d\u6536<strong>185.85<\/strong>\u3002<\/p>\n\n\n\n<p><strong>\u4e3a\u4ec0\u4e48\u5e02\u573a\u5173\u6ce8\u7532\u9aa8\u6587\u7684AI\u652f\u51fa\uff1f<\/strong><\/p>\n\n\n\n<p>\u5e02\u573a\u5173\u6ce8\u70b9\u5728\u4e8e\uff1a\u9ad8\u8d44\u672c\u5f00\u652f\u7a76\u7adf\u662f\u98ce\u9669\u8fd8\u662f\u957f\u671f\u4f18\u52bf\u3002Wedbush\u8ba4\u4e3a\uff0c\u7532\u9aa8\u6587\u5728\u4e3aAI\u5468\u671f\u4e0b\u4e00\u9636\u6bb5\u5e03\u5c40\uff0c\u5728\u8be5\u9636\u6bb5\u57fa\u7840\u8bbe\u65bd\u3001\u6027\u80fd\u4e0e\u6570\u636e\u83b7\u53d6\u66f4\u91cd\u8981\u3002<\/p>\n\n\n\n<p><strong>\u7532\u9aa8\u6587\u7684AI\u8d44\u672c\u5f00\u652f\u662f\u98ce\u9669\u5417\uff1f<\/strong><\/p>\n\n\n\n<p>\u77ed\u671f\u770b\uff0cAI\u76f8\u5173\u8d44\u672c\u5f00\u652f\u53ef\u80fd\u538b\u5236\u81ea\u7531\u73b0\u91d1\u6d41\uff1b\u4f46Wedbush\u8ba4\u4e3a\u652f\u51fa\u6709\u9700\u6c42\u652f\u6491\u3002\u7532\u9aa8\u6587\u201c\u8d44\u672c\u5f00\u652f\/\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff08RPO\uff09\u201d\u7ea6<strong>9%<\/strong>\uff0c\u4f4e\u4e8e\u540c\u4e1a\u5e73\u5747<strong>33.6%<\/strong>\u3002<\/p>\n\n\n\n<p>\u8f83\u4f4e\u6bd4\u7387\u610f\u5473\u7740\u516c\u53f8\u66f4\u591a\u662f\u5728\u4e3a\u5df2\u7b7e\u7ea6\u8ba2\u5355\u6295\u5165\uff0c\u800c\u4e0d\u662f\u8ffd\u9010\u4e0d\u786e\u5b9a\u9700\u6c42\u3002<\/p>\n\n\n\n<p><strong>\u201c\u8d44\u672c\u5f00\u652f\/ RPO\u201d\u6bd4\u7387\u4ee3\u8868\u4ec0\u4e48\uff1f<\/strong><\/p>\n\n\n\n<p>\u8be5\u6bd4\u7387\u628a\u8d44\u672c\u5f00\u652f\uff08capex\uff09\u4e0e\u5269\u4f59\u5c65\u7ea6\u4e49\u52a1\uff08RPO\uff1a\u5df2\u7b7e\u7ea6\u3001\u672a\u6765\u53ef\u786e\u8ba4\u7684\u6536\u5165\uff09\u505a\u5bf9\u6bd4\u3002\u6bd4\u7387\u8f83\u4f4e\u901a\u5e38\u4ee3\u8868\uff1a\u516c\u53f8\u76f8\u5bf9\u652f\u51fa\u62e5\u6709\u66f4\u5927\u7684\u201c\u5df2\u9501\u5b9a\u6536\u5165\u201d\u57fa\u7840\uff0c\u6295\u5165\u66f4\u6709\u4f9d\u636e\u3002<\/p>\n<\/details>\n\n<p>\r\n\r\n<p><strong>\u7acb\u5373\u5f00\u59cb\u4ea4\u6613 &#8211; \u70b9\u51fb<a href=\"https:\/\/www.vtmarketsmy.com\/cn\/trade-now\/\">\u8fd9\u91cc<\/a>\u521b\u5efa\u60a8\u7684 VT Markets \u771f\u5b9e\u8d26\u6237 <\/strong> <\/p>\r\n<!-- \/wp:post-content 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