“AI拉动云”的飞轮效应：算力焦虑可转出真金白银_老虎社区_美港股上老虎

“AI拉动云”的飞轮效应：算力焦虑可转出真金白银

澎湃新闻02-12

要知道，在云市场这种大家普遍认为“卷不动”的存量环境里，连续三个季度上涨，这就是个很明显的信号。翻开阿里财报可以发现，阿里云AI相关产品收入也水涨船高，已连续九个季度实现三位数同比增长。两组数据摆在一起，趋势浮现：所谓的“AI拉动云”，已不是商业设想，而是实实在在转起来的商业飞轮。回溯来看，以前大家聊云增长，总觉得遇到了瓶颈。市场对于云计算的增长预期一度陷入“饱和论”的迷雾中。传统的互联网红利见顶...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260212094715a49a2872&s=b><strong>澎湃新闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>要知道，在云市场这种大家普遍认为“卷不动”的存量环境里，连续三个季度上涨，这就是个很明显的信号。翻开阿里财报可以发现，阿里云AI相关产品收入也水涨船高，已连续九个季度实现三位数同比增长。两组数据摆在一起，趋势浮现：所谓的“AI拉动云”，已不是商业设想，而是实实在在转起来的商业飞轮。回溯来看，以前大家聊云增长，总觉得遇到了瓶颈。市场对于云计算的增长预期一度陷入“饱和论”的迷雾中。传统的互联网红利见顶...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260212094715a49a2872&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOOGL","symbol_name":"谷歌A","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260212094715a49a2872&s=b","article_id":"2610383996","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260212094715a49a2872&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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money","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BABA":1.95,"GOOGL":0.9,"09988":1.95,"USJW.SI":0.6,"GOOG":0.9},"content_text":"要知道，在云市场这种大家普遍认为“卷不动”的存量环境里，连续三个季度上涨，这就是个很明显的信号。翻开阿里财报可以发现，阿里云AI相关产品收入也水涨船高，已连续九个季度实现三位数同比增长。两组数据摆在一起，趋势浮现：所谓的“AI拉动云”，已不是商业设想，而是实实在在转起来的商业飞轮。回溯来看，以前大家聊云增长，总觉得遇到了瓶颈。市场对于云计算的增长预期一度陷入“饱和论”的迷雾中。传统的互联网红利见顶，企业上云进入深水区，单纯的资源置换难以带来爆发式增长。然而，阿里云“连续九个季度AI收入三位数增长”与“市场份额扩大”之间的强相关性，有力地证伪了行业的停滞论调。背后的逻辑并不复杂，以前企业上云，很多时候只是换个地方存数据、跑跑简单的Web服务，这种资源消耗是线性的，一眼能望到头，但现在的生成式AI就是个“算力吞噬兽”。每一次模型的训练、每一次用户的推理请求，都在实质性地“吞噬”着巨大的算力资源。AI产品卖得越好，背后的计算集群、低延迟网络和高吞吐存储就得跟上。这就形成了一种很直接的物理传动——AI业务在前面跑，底层的云基础设施就得在后面玩命填。Omdia就指出，“随着企业逐步从早期AI试验阶段迈向规模化应用，AI日益成为核心云基础设施服务新增需求的主要驱动力，带动计算、存储及数据库等资源消耗增长”。阿里云这九个季度的AI收入暴增，本质上就是把这种算力焦虑转化成了真金白银。更重要的是，这波增长的质量变了，顶穿天花板之后，阿里云也驶入了新拐点。在传统的云计算时代，企业选择云厂商往往基于成本考量，业务迁移相对容易，客户黏性有限。但AI在走向规模化生产，企业在选择AI服务商时，面对的是一个极其复杂的系统工程。他们不仅关注模型本身的智能程度，更关注算力的稳定性、推理的成本效益以及数据的安全性。这种需求使得企业与云厂商的关系，从简单的“租赁”变成了深度的“绑定”。一家致力于开发垂直领域大模型的企业，一旦选择了阿里云的千问大模型或其AI基础设施，通过阿里云的PAI平台进行训练和部署，其后续的数据流转、模型迭代、算力调度都将深度依赖这一生态。这种技术栈的耦合度极高，迁移成本巨大。因此，AI客户往往是高净值、高黏性的优质客户。阿里云AI收入连续九个季度的三位数增长，意味着其已经沉淀了一大批将核心业务逻辑建立在阿里云之上的深度用户。这些用户不仅贡献了当下的营收，更锁定了未来的增量。所以，这36%的份额里，沉淀下来的都是那种离不开，也不想走的高净值客户。这才是高质量的增长，不是靠价格战换来的虚胖。并且，通常我们说33%就是“三分天下”的安全线，但在已经这么大的体量下还能往上冲，说明马太效应正在加剧。三个月前，阿里云不仅碾压式拿下浙江政务云5983万大单，更已启动大规模算力扩容招标，2026年全年规划招标1.8-2GW，3-4月将迎来集中落地高峰。而这还只是个开始，“阿里云的目标是拿下2026年中国AI云市场增量的80%”。近期，阿里云智能集团资深副总裁刘伟光就公开放话。但如此“狂飙”叙事，其实让市场更进一步看清了阿里云的庞大护城河。在业内人士看来，AI时代，云市场的竞争壁垒被大幅拔高。AI大模型的研发与部署是一场极其昂贵的竞赛，需要千亿级别的资金投入、顶级的技术人才以及庞大的算力储备。这导致市场资源不可避免地向头部厂商集中。这是一种“虹吸效应”。阿里云现在就是利用这种技术壁垒，把市场上的AI增量需求，生生转化成了自己的存量份额。80%的目标不小，背后的底气源于阿里云构建的完整技术体系。整个云计算体系架构都需要为AI重构，而阿里云已经建立了从底层芯片到顶层模型的全栈AI能力。基础设施方面，阿里云是中国乃至亚太地区最大的云基础设施企业；自研芯片也迎来突破。平头哥AI芯片已开始对外销售，性能已对标国际主流水平，并成功中标大型智算中心项目；在AI云市场竞争的核心模型与服务上，阿里云已形成全尺寸、全模态和多场景的模型开源体系。至此可以说，AI作为新的生产力工具，正在重构千行百业的数字化进程，而云计算作为支撑这一变革的水利工程，其价值被无限放大。阿里云通过前瞻性的布局，成功捕捉了这波技术浪潮，将AI转化为实实在在的算力消费和市场份额。事实上，在大洋彼岸，谷歌云也呈现出惊人相似的增长轨迹。根据Alphabet发布的最新财报，谷歌云业务成为其四季度业绩的最大亮点，当季业务收入同比暴增48%至177亿美元。这一令华尔街侧目的增长速度，同样主要由企业AI基础设施、企业AI解决方案以及核心云平台产品的需求激增所驱动。谷歌云的逆袭与阿里云的稳进，共同揭示了一个真理：在云计算的下半场，AI可能是唯一的破局点。无论是谷歌的TPU集群还是阿里云的飞天智算平台，云巨头们都在通过“AI+Cloud”的深度融合，重塑商业模式。全球云市场正在经历一场由AI主导的价值重估，谁能最好地服务AI，谁就能主宰云的未来。","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":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}