港股概念追踪 | 国外巨头持续加码AI和云计算基础设施投入算力产业链有望保持高景气度(附概念股)

智通财经2025-05-07

智通财经APP获悉，国外巨头持续加码AI和云计算基础设施投入。微软、亚马逊、谷歌、Meta等四大北美云厂商发布的一季度数据显示，其资本开支显著增加，主要用于AI和云服务的基础设施建设。具体来看：微软一季度资本支出达167.5亿美元，同比增长53%，主要用于扩建数据中心和采购AI芯片。2025年全年，微软计划资本开支高达800亿美元，并致力于在2026年前将AI训练算力提升5倍。微软首席财务官艾米 ...

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Jassy在其2024年度股东信中强调了公司对人工智能(AI)的巨额投资，预计今年资本支出将达1000亿美元，其中大部分将用于AI相关项目，涵盖数据中心、网络设备、AI硬件以及生成式AI服务能力建设。谷歌一季度的资本开支高达172亿美元，同比增长43%，主要用于投入服务器、数据中心等基础设施建设。谷歌母公司Alphabet也在上周重申了雄心勃勃的AI建设计划，并计划今年投资750亿美元。Meta一季度资本支出136.9亿美元，同比增长103.7%。Meta日前将全年资本支出预期从600-650亿美元提升至640-720亿美元，主要投向AI发展。其表示，开支上调反映出“为支持AI工作增加数据中心投资、增加基础设施硬件预期成本”。西部证券预计，根据公司指引(假设微软后续三个季度的资本开支均不低于FY25Q3的资本开支、Meta取FY25 Capex指引的中值)，2025年这四家的资本开支合计有望超过3286亿美元，同比增速超过35%。国内方面，腾讯正在重塑AI战略。公司管理层表示，2025年计划进一步增加资本支出，预期资本支出占收入的比例为低两位数百分比。若按照2024年腾讯营收及低两位数百分比(10%至20%)中值15%计算，2025年腾讯资本支出或达千亿元级别。中信建投研报称，微软/亚马逊/谷歌/Meta 四大北美云厂商财报多超市场预期，资本开支维持高位，持续加大服务器、数据中心和网络基础设施等AI基建支持，有望促进AI基础设施产业链景气度持续向上：1)利好有数据、有客户、有场景的软件企业，AI产品有望带动公司ARPU提升和项目单价上升；2)模型私有化需求增加，利好一体机、超融合和B端服务外包企业。国盛证券认为，尽管受关税扰动市场仍存担忧，但AI本身需求并未变化。目前正通过“资本开支扩张-商业化落地-业绩兑现”的正向循环持续发展，未来伴随大模型技术突破、行业应用场景的持续拓展与业绩的逐步兑现，算力产业链仍将保持高景气度，建议关注算力基建、垂类应用以及生态协同等相关领域。相关概念股：腾讯(00700)：腾讯管理层表示，2025年计划进一步增加资本支出，预期资本支出占收入的比例为低两位数百分比。若按照2024年腾讯营收及低两位数百分比(10%至20%)中值15%计算，2025年腾讯资本支出或达千亿元级别。阿里巴巴(09988)：云计算方面，阿里云宣布未来三年投入70亿元建设国际本地化生态，并在波尔图、墨西哥城、吉隆坡、迪拜等地增设6个海外服务中心，将技术能力向全球释放。伟仕佳杰(00856)：伟仕佳杰发布2024年度业绩，报告期内，人工智能业务收入约37.8亿港元，同比增长42%；云计算业务收入约39亿港元，同比增长28%。华西证券认为，在全球数字化与AI驱动以及国家大力推进新基建的背景下，公司2024年业绩超该行预期增长，公司作为科技服务、云服务产业中的龙头企业，业绩持续稳定增长。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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港股概念追踪 | 国外巨头持续加码AI和云计算基础设施投入 算力产业链有望保持高景气度(附概念股)

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港股概念追踪 | 国外巨头持续加码AI和云计算基础设施投入算力产业链有望保持高景气度(附概念股)