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天空使者

慢慢撸

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- 天空使者天空使者
  ·01-26
  Replying to @Heinz:这个 cfo 确实有点问题//@Heinz:好像是CFO一直被质疑不会讲话[笑哭]
  688 评论
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- 天空使者天空使者
  ·2025-12-24
  洗洗更健康把不坚定的洗出去
  非常抱歉，此主贴已删除
  855 评论
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- 天空使者天空使者
  ·2025-12-24
  洗洗更健康
  604 评论
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- 天空使者天空使者
  ·2025-12-17
  抄完底马上变，果然是高盛
  高盛：AI融资担忧是“虚惊一场”，资本支出有科技巨头现金流“撑腰”
  实际上只有10%是由债务资助的。
  高盛：AI融资担忧是“虚惊一场”，资本支出有科技巨头现金流“撑腰”
  1,062 评论
  3
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- 天空使者天空使者
  ·2025-12-05
  $英特尔(INTC)$ 拿好筹码今天空军是真猛越跌越买14a已经在路上
  1,171 评论
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- 天空使者天空使者
  ·2025-11-21
  为什么要跟他过意不去
  @阿杜1595：
  $霸王茶姬(CHA)$ 没有比我惨的吧
  $霸王茶姬(CHA)$ 没有比我惨的吧
  987 评论
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- 天空使者天空使者
  ·2025-11-07
  oracle就值120
  1,535 评论
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- 天空使者天空使者
  ·2025-10-21
  $甲骨文(ORCL)$ 今晚至少跌十个点
  2,764 2
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- 天空使者天空使者
  ·2025-10-07
  $英特尔(INTC)$ 接下来宣布博通和intel合作 [开心]
  1,849 评论
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- 天空使者天空使者
  ·2025-10-02
  轮着合作一家涨5个点怎么也有十几家涨到50简简单单靠舆论就行[开心]
  1,789 评论
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确实有点问题//@Heinz:好像是CFO一直被质疑不会讲话[笑哭]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/525700721201632","isVote":1,"tweetType":1,"viewCount":688,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":514282953912456,"gmtCreate":1766587723578,"gmtModify":1766587725783,"author":{"id":"11107014341500","authorId":"11107014341500","name":"天空使者","avatar":"https://static.tigerbbs.com/c86841c011641e27a5e95607f7abd2c9","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"11107014341500","idStr":"11107014341500"},"themes":[],"title":"","htmlText":"洗洗更健康 把不坚定的洗出去","listText":"洗洗更健康 把不坚定的洗出去","text":"洗洗更健康 把不坚定的洗出去","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/514282953912456","repostId":"2593666477","repostType":2,"isVote":1,"tweetType":1,"viewCount":855,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":514250630751032,"gmtCreate":1766579836292,"gmtModify":1766579838620,"author":{"id":"11107014341500","authorId":"11107014341500","name":"天空使者","avatar":"https://static.tigerbbs.com/c86841c011641e27a5e95607f7abd2c9","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"11107014341500","idStr":"11107014341500"},"themes":[],"htmlText":"洗洗更健康","listText":"洗洗更健康","text":"洗洗更健康","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/514250630751032","isVote":1,"tweetType":1,"viewCount":604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":511760365310176,"gmtCreate":1765968540362,"gmtModify":1765968542926,"author":{"id":"11107014341500","authorId":"11107014341500","name":"天空使者","avatar":"https://static.tigerbbs.com/c86841c011641e27a5e95607f7abd2c9","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"11107014341500","idStr":"11107014341500"},"themes":[],"title":"","htmlText":"抄完底马上变，果然是高盛","listText":"抄完底马上变，果然是高盛","text":"抄完底马上变，果然是高盛","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/511760365310176","repostId":"1100285950","repostType":2,"repost":{"id":"1100285950","kind":"news","pubTimestamp":1765967624,"share":"https://www.laohu8.com/m/news/1100285950?lang=zh_CN&edition=full","pubTime":"2025-12-17 18:33","market":"us","language":"zh","title":"高盛：AI融资担忧是“虚惊一场”，资本支出有科技巨头现金流“撑腰”","url":"https://stock-news.laohu8.com/highlight/detail?id=1100285950","media":"智通财经","summary":"实际上只有10%是由债务资助的。","content":"<html><head></head><body><p>高盛资管公开科技投资与美国基础股权联席主管Sung Cho最近与Scott Wapner讨论时传递了一个核心且令人安心的信息：当前市场上普遍存在的、通常由企业估值剧烈波动和感知到的脆弱性所引发的人工智能融资焦虑，在很大程度上被夸大了。</p><p style=\"text-align: justify;\">此次对话深入探讨了AI投资交易的轨迹、更广泛的市场前景以及该行业资本结构的基础稳定性，为在这个变革时代中探索的创始人、风险投资家和科技业内人士提供了一个细致入微的视角。</p><p style=\"text-align: justify;\">Cho的核心见解通过剖析推动当前繁荣的资本来源，挑战了关于AI泡沫即将来临的叙事。他认为，绝大多数的AI投资并非依赖于投机性债务，而是依赖于成熟科技巨头强劲的内部产生的现金流。这一区别对于理解AI市场的长期韧性至关重要。</p><p style=\"text-align: justify;\">在量化流入AI的巨大资本时，Cho表示：“考虑到未来几年我们所需的总支出水平，我们认为大约在7000亿到1万亿美元之间。而应该平息恐惧的是，其中90%是由运营现金流资助的。”</p><p style=\"text-align: justify;\">这种对高盈利企业内部资本(而非外部债务)的重大依赖，凸显了AI投资格局的根本优势，使其有别于以往的科技投机周期。其影响是深远的：公司正从财务健康的角度资助其AI雄心，而不是将自己杠杆化到岌岌可危的境地。</p><p style=\"text-align: justify;\">此外，即使是AI投资中通过债务融资的较小部分，也主要是稳定的。Cho强调，这部分债务中有相当大比例是由高评级实体发行的。他详细阐述道：“实际上只有10%是由债务资助的。而你知道，这其中大部分的债务实际上将由Meta发行，其信用评级实际上优于美国政府，其债券交易利差甚至小于美国国债。”这说明AI领域的债务融资并非集中在资产负债表不稳定的投机企业，而是集中在信用度极高的成熟公司，从而进一步降低了系统性风险。</p><p style=\"text-align: justify;\">关于针对像Coreweave(CRWV.US)和甲骨文(ORCL.US)这样经历近期市场波动的特定公司的担忧，也得到了客观看待。Cho澄清，这些情况并不表示整体AI需求正在减弱。相反，它们通常反映了运营挑战或供应链瓶颈。</p><p style=\"text-align: justify;\">他解释道：“我认为到2026年，资金不会成为问题。如果你想想Coreweave和甲骨文，我认为你也必须意识到，他们面临的不是需求问题。他们正在处理一些供应链积压问题。”这一区别对投资者至关重要，表明特定公司的挫折并不预示着更广泛的行业衰退，而是暂时的、可解决的运营障碍。</p><p style=\"text-align: justify;\">Cho提出的第二个关键见解涉及基础AI模型领域领导地位的动态性和固有的波动性。AI模型领域感知领先者的快速更替是这个新生市场的决定性特征。今天看似主导的，明天就可能被超越。</p><p style=\"text-align: justify;\">Cho指出了领先AI参与者之间投资者情绪和市值估值的快速转变。他观察到：“想想在2025年期间，围绕不同前沿模型参与者的情绪发生了多大的变化。如果你看看2025年初，Meta被认为是主导模型……六个月后，OpenAI被视为主导的前沿模型……而最近，在投资者眼中，谷歌正在取得领先地位。”这种竞争的流动性，虽然在单只股票上产生了引人注目的波动性，但也标志着激烈的创新和技术霸权的竞争，而非市场整体的崩溃。</p><p style=\"text-align: justify;\">这种“模型波动性”带来的财务影响是巨大的。例如，谷歌近期市值的飙升就是这种观念转变的直接结果。Cho表示：“正是因为人们认为Gemini现在正在取得领先，他们在过去三个月里市值增加了一万亿美元。”这种短期内巨大的市值增长突显了投资者的信心和资本如何能基于感知到的技术优势而迅速转向。</p><p style=\"text-align: justify;\">这种动态环境将持续下去，新的进步将不断重塑竞争格局。下一代AI模型的即将到来，例如那些将在2026年初基于英伟达Blackwell架构训练的模型，有望带来进一步的波动性和领导地位的潜在转变。因此，由于创新周期加速，新能力不断涌现，市场参与者预计将感知到主导地位正持续转变。市场并非停滞不前，而是以前所未有的速度演变。</p><p style=\"text-align: justify;\">最终，Cho的分析描绘了一幅AI市场的图景：该市场基础资本充足，主要通过可持续的运营现金流，而非岌岌可危的杠杆化来支撑。虽然领先AI模型开发者之间的竞争动态仍将保持激烈的波动性，但这些转变是激烈创新的自然结果，而非系统性财务薄弱的指标。虽然这些焦虑是明显存在的，但从基础财务健康和需求的角度来看，似乎在很大程度上被夸大了。</p></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>高盛：AI融资担忧是“虚惊一场”，资本支出有科技巨头现金流“撑腰”</title>\n<style 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href=\"https://www.zhitongcaijing.com/content/detail/1382662.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cd8f150365a3adde740f5c95e8a4a32c","relate_stocks":{"NVDA":"英伟达","AVGO":"博通","ORCL":"甲骨文"},"source_url":"https://www.zhitongcaijing.com/content/detail/1382662.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1100285950","content_text":"高盛资管公开科技投资与美国基础股权联席主管Sung Cho最近与Scott Wapner讨论时传递了一个核心且令人安心的信息：当前市场上普遍存在的、通常由企业估值剧烈波动和感知到的脆弱性所引发的人工智能融资焦虑，在很大程度上被夸大了。此次对话深入探讨了AI投资交易的轨迹、更广泛的市场前景以及该行业资本结构的基础稳定性，为在这个变革时代中探索的创始人、风险投资家和科技业内人士提供了一个细致入微的视角。Cho的核心见解通过剖析推动当前繁荣的资本来源，挑战了关于AI泡沫即将来临的叙事。他认为，绝大多数的AI投资并非依赖于投机性债务，而是依赖于成熟科技巨头强劲的内部产生的现金流。这一区别对于理解AI市场的长期韧性至关重要。在量化流入AI的巨大资本时，Cho表示：“考虑到未来几年我们所需的总支出水平，我们认为大约在7000亿到1万亿美元之间。而应该平息恐惧的是，其中90%是由运营现金流资助的。”这种对高盈利企业内部资本(而非外部债务)的重大依赖，凸显了AI投资格局的根本优势，使其有别于以往的科技投机周期。其影响是深远的：公司正从财务健康的角度资助其AI雄心，而不是将自己杠杆化到岌岌可危的境地。此外，即使是AI投资中通过债务融资的较小部分，也主要是稳定的。Cho强调，这部分债务中有相当大比例是由高评级实体发行的。他详细阐述道：“实际上只有10%是由债务资助的。而你知道，这其中大部分的债务实际上将由Meta发行，其信用评级实际上优于美国政府，其债券交易利差甚至小于美国国债。”这说明AI领域的债务融资并非集中在资产负债表不稳定的投机企业，而是集中在信用度极高的成熟公司，从而进一步降低了系统性风险。关于针对像Coreweave(CRWV.US)和甲骨文(ORCL.US)这样经历近期市场波动的特定公司的担忧，也得到了客观看待。Cho澄清，这些情况并不表示整体AI需求正在减弱。相反，它们通常反映了运营挑战或供应链瓶颈。他解释道：“我认为到2026年，资金不会成为问题。如果你想想Coreweave和甲骨文，我认为你也必须意识到，他们面临的不是需求问题。他们正在处理一些供应链积压问题。”这一区别对投资者至关重要，表明特定公司的挫折并不预示着更广泛的行业衰退，而是暂时的、可解决的运营障碍。Cho提出的第二个关键见解涉及基础AI模型领域领导地位的动态性和固有的波动性。AI模型领域感知领先者的快速更替是这个新生市场的决定性特征。今天看似主导的，明天就可能被超越。Cho指出了领先AI参与者之间投资者情绪和市值估值的快速转变。他观察到：“想想在2025年期间，围绕不同前沿模型参与者的情绪发生了多大的变化。如果你看看2025年初，Meta被认为是主导模型……六个月后，OpenAI被视为主导的前沿模型……而最近，在投资者眼中，谷歌正在取得领先地位。”这种竞争的流动性，虽然在单只股票上产生了引人注目的波动性，但也标志着激烈的创新和技术霸权的竞争，而非市场整体的崩溃。这种“模型波动性”带来的财务影响是巨大的。例如，谷歌近期市值的飙升就是这种观念转变的直接结果。Cho表示：“正是因为人们认为Gemini现在正在取得领先，他们在过去三个月里市值增加了一万亿美元。”这种短期内巨大的市值增长突显了投资者的信心和资本如何能基于感知到的技术优势而迅速转向。这种动态环境将持续下去，新的进步将不断重塑竞争格局。下一代AI模型的即将到来，例如那些将在2026年初基于英伟达Blackwell架构训练的模型，有望带来进一步的波动性和领导地位的潜在转变。因此，由于创新周期加速，新能力不断涌现，市场参与者预计将感知到主导地位正持续转变。市场并非停滞不前，而是以前所未有的速度演变。最终，Cho的分析描绘了一幅AI市场的图景：该市场基础资本充足，主要通过可持续的运营现金流，而非岌岌可危的杠杆化来支撑。虽然领先AI模型开发者之间的竞争动态仍将保持激烈的波动性，但这些转变是激烈创新的自然结果，而非系统性财务薄弱的指标。虽然这些焦虑是明显存在的，但从基础财务健康和需求的角度来看，似乎在很大程度上被夸大了。","news_type":1,"symbols_score_info":{"NVDA":2,"ORCL":2,"AVGO":2}},"isVote":1,"tweetType":1,"viewCount":1062,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":507297879835328,"gmtCreate":1764882628821,"gmtModify":1764882630655,"author":{"id":"11107014341500","authorId":"11107014341500","name":"天空使者","avatar":"https://static.tigerbbs.com/c86841c011641e27a5e95607f7abd2c9","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"11107014341500","idStr":"11107014341500"},"themes":[],"title":"","htmlText":"<a 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