微软押注 AI 遇挫：Copilot 失势，股价暴跌

IT之家02-08

IT之家 2 月 8 日消息，据《华尔街日报》报道，微软正越来越多地将重心投向人工智能，这几乎必然是以牺牲其核心产品（如 Windows 操作系统）为代价的。而对这家总部位于雷德蒙德的科技巨头而言，这一豪赌似乎并未取得预期回报。据报道，微软现任及前员工透露，公司混乱的品牌命名、产品之间严重缺乏协同性，让用户感到不满并选择放弃使用。该报查阅的数据显示，微软企业客户中，更愿意使用其 AI 聊天机器人...

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操作系统）为代价的。而对这家总部位于雷德蒙德的科技巨头而言，这一豪赌似乎并未取得预期回报。据报道，微软现任及前员工透露，公司混乱的品牌命名、产品之间严重缺乏协同性，让用户感到不满并选择放弃使用。该报查阅的数据显示，微软企业客户中，更愿意使用其 AI 聊天机器人与助手 Copilot 的比例微乎其微，Copilot 正逐渐落后于谷歌、OpenAI 与 Anthropic 等竞争对手。这份报道发布前，微软上周遭遇了史上罕见的股价重挫，股价暴跌近 12%，这一信号表明投资者对 CEO 萨提亚 · 纳德拉提出的“AI 优先”战略愿景，以及公司为此投入的巨额成本产生了质疑。在品牌命名混乱这一点上，微软的表现几乎与 OpenAI 不相上下。其各类服务与软件中嵌入了多个版本的 Copilot，甚至可以说版本泛滥。你需要的是 Microsoft 365 Copilot，还是 Microsoft 365 Copilot Chat？普通版 Microsoft Copilot，或是 Microsoft Copilot Studio 又该如何选择？偏技术向的用户或许更熟悉 GitHub Copilot 或 Microsoft Security Copilot。当然，这些还不能与更早推出的 Microsoft Copilot Pro、面向 PC 的 Copilot+ 等产品混淆。如此看来，员工们的抱怨并非没有道理。核心问题在于：微软针对不同用户群体拆分了多类 Copilot—— 面向普通消费者、面向程序员与开发者，以及面向企业与专业人士的企业版 Copilot。凭借微软的体量，即便在“自乱阵脚”的情况下，仍能吸引庞大用户基数。上周微软公布，其 4.5 亿 Microsoft 365 商业订阅用户中，已售出 1500 万份 Microsoft 365 Copilot“席位”（年度用户）。但市场研究机构 Recon Analytics 此前未公开的数据显示，这一用户基础正开始流失。《华尔街日报》援引该机构对超 15 万美国用户的调查结果：2025 年 7 月至今年 1 月，将 Copilot 作为首选主力聊天机器人的付费订阅用户占比，从 18.8% 暴跌至 11.5%；与此同时，使用谷歌 Gemini 的用户占比从 12.8% 小幅升至 15.7%。IT之家注意到，花旗研究分析师的一份报告给出了另一组残酷数据：部分企业仅使用了其所购买 Copilot 订阅“席位”的约 10%。客户抱怨称，Copilot 版本混乱、产品被强制推送，且不同 AI 模型之间整合效果极差。若想将办公场景下的 AI 工作内容迁移到消费级 AI 模型中继续处理，体验会极其糟糕、操作繁琐。微软发言人未提供具体数据，对《华尔街日报》的报道予以反驳，称“我们目前的增长速度是前所未有的”。不过，Copilot 确实有一个领域表现亮眼：微软内部。微软首席 AI 转型官（确为正式职位）帕姆 · 梅纳德向《华尔街日报》表示，过去一年，微软销售部门的 Copilot 使用率从 20% 飙升至 70% 以上。梅纳德将此归因于员工对 AI 接受度提升，但知情人士透露，公司管理层也在强力推动技术应用，要求员工量化工作中 Copilot 等工具的使用情况。（CEO 萨提亚 · 纳德拉此前曾宣称，公司超过四分之一的代码由 AI 辅助编写。）这些调查结果只会进一步加剧投资者对微软不断膨胀的 AI 投入的担忧。上周四，微软发布最新季度财报后股价大幅跳水：财报显示，尽管净利润增至 310 亿美元，但支出同比大增 66%，达到 375 亿美元。更令人担忧的是，作为微软 AI 业务核心支柱的 Azure 云计算业务，营收增速仅为 38%，较上年略有下滑，远低于市场预期。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"productRelease","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":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 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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