个人中心 - 老虎社区

T20260224001

IP属地：广东

帖子 · 46帖子 · 46
关注 · 0关注 · 0
粉丝 · 0粉丝 · 0

- T20260224001T20260224001
  ·06-11
  $谷歌(GOOG)$ PUT 300！！
  211 评论
  1
  分享
  举报
- T20260224001T20260224001
  ·06-11
  $特斯拉(TSLA)$ PUT 360！！
  139 评论
  1
  分享
  举报
- T20260224001T20260224001
  ·06-11
  $康宁(GLW)$ PUT 160！！
  347 评论
  1
  分享
  举报
- T20260224001T20260224001
  ·06-11
  $苹果(AAPL)$ PUT280！！
  266 评论
  2
  分享
  举报
- T20260224001T20260224001
  ·06-11
  说说你对这篇新闻的看法...
  爆棚订单难抵70亿融资恐慌，超微电脑股价重挫，AI基建竟成烧钱无底洞？
  巨额融资触发盘后大跌周二，$超微电脑$ 宣布了一项总规模高达70亿美元的股权及股权挂钩融资计划。AI狂热导致巨额现金流缺口这笔融资彻底暴露了AI硬件业务极其“烧钱”的本质。公司此举正效仿谷歌、Meta等科技巨头的步伐，试图通过出售股票，来为预计规模高达8200亿美元的全球AI基础设施建设狂潮提供资金血液。此外，公司联合创始人及另外两人在今年3月因涉嫌密谋等遭到指控，这一悬而未决的法律余波至今仍是对股价的重大隐患。
  爆棚订单难抵70亿融资恐慌，超微电脑股价重挫，AI基建竟成烧钱无底洞？
  11 评论
  点赞
  分享
  举报
- T20260224001T20260224001
  ·06-10
  $蔚来-SW(09866)$ 市值不足一千亿[弱] [弱]
  460 评论
  2
  分享
  举报
- T20260224001T20260224001
  ·06-08
  $胜宏科技(02476)$ 利好有色
  240 评论
  1
  分享
  举报
- T20260224001T20260224001
  ·06-04
  $微软(MSFT)$ 空！！
  162 评论
  3
  分享
  举报
- T20260224001T20260224001
  ·06-03
  $英特尔(INTC)$ 赶紧卖！要回调100以下的
  1,234 1
  3
  分享
  举报
- T20260224001T20260224001
  ·05-22
  $蔚来-SW(09866)$ 跌倒$30港币才到底！
  1,297 1
  2
  分享
  举报
暂无粉丝

热议股票

{"i18n":{"language":"zh_CN"},"isCurrentUser":false,"userPageInfo":{"id":"3525099269122154","uuid":"3525099269122154","gmtCreate":1562005247081,"gmtModify":1776995585990,"name":"T20260224001","pinyin":"t20260224001","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":11,"headSize":20,"tweetSize":46,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.12.23","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"228c86a078844d74991fff2b7ab2428d-3","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资合伙人虎","description":"证券账户累计交易金额达到100万美元","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.06.28","exceedPercentage":"93.21%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.81%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":8,"crmLevelSwitch":0,"location":"广东","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":5,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":574166948341760,"gmtCreate":1781191382151,"gmtModify":1781191615390,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/GOOG\">$谷歌(GOOG)$&nbsp;</a> PUT 300！！","listText":"<a href=\"https://laohu8.com/S/GOOG\">$谷歌(GOOG)$&nbsp;</a> PUT 300！！","text":"$谷歌(GOOG)$ PUT 300！！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/574166948341760","isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":574160794084208,"gmtCreate":1781189853891,"gmtModify":1781190224362,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a> PUT 360！！","listText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a> PUT 360！！","text":"$特斯拉(TSLA)$ PUT 360！！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/574160794084208","isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":574160606778976,"gmtCreate":1781189812925,"gmtModify":1781190224287,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/GLW\">$康宁(GLW)$</a> PUT 160！！","listText":"<a href=\"https://laohu8.com/S/GLW\">$康宁(GLW)$</a> PUT 160！！","text":"$康宁(GLW)$ PUT 160！！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/574160606778976","isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":574156221751936,"gmtCreate":1781188717147,"gmtModify":1781188883443,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$苹果(AAPL)$&nbsp;</a> PUT280！！","listText":"<a href=\"https://laohu8.com/S/AAPL\">$苹果(AAPL)$&nbsp;</a> PUT280！！","text":"$苹果(AAPL)$ PUT280！！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/574156221751936","isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":574146264152104,"gmtCreate":1781186358040,"gmtModify":1781186368976,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"说说你对这篇新闻的看法...","listText":"说说你对这篇新闻的看法...","text":"说说你对这篇新闻的看法...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/574146264152104","repostId":"1153489432","repostType":2,"repost":{"id":"1153489432","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1781059226,"share":"https://www.laohu8.com/m/news/1153489432?lang=zh_CN&edition=full","pubTime":"2026-06-10 10:40","market":"us","language":"zh","title":"爆棚订单难抵70亿融资恐慌，超微电脑股价重挫，AI基建竟成烧钱无底洞？","url":"https://stock-news.laohu8.com/highlight/detail?id=1153489432","media":"老虎资讯综合","summary":"巨额融资触发盘后大跌周二，$超微电脑$ 宣布了一项总规模高达70亿美元的股权及股权挂钩融资计划。AI狂热导致巨额现金流缺口这笔融资彻底暴露了AI硬件业务极其“烧钱”的本质。公司此举正效仿谷歌、Meta等科技巨头的步伐，试图通过出售股票，来为预计规模高达8200亿美元的全球AI基础设施建设狂潮提供资金血液。此外，公司联合创始人及另外两人在今年3月因涉嫌密谋等遭到指控，这一悬而未决的法律余波至今仍是对股价的重大隐患。","content":"<html><head></head><body><h3 id=\"id_541986810\">巨额融资触发盘后大跌</h3><p>周二，<a href=\"https://laohu8.com/S/SMCI\">超微电脑</a> 宣布了一项总规模高达<strong>70亿美元</strong>的股权及股权挂钩融资计划。由于投资者对人工智能热潮带来的资金成本急剧上升感到愈发担忧，该消息直接导致其股价在盘后交易中重挫7%。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/19a2bf810c3f6d343dc7c491c4876483\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><h3 id=\"id_1947160623\">390亿订单难掩“抽水”恐慌</h3><p>尽管公司目前手握高达<strong>390亿美元</strong>的庞大积压订单，释放了强烈的积极信号，但华尔街依然被这份融资计划引发的稀释效应“吓坏了”。根据披露细节，这70亿美元包含了<strong>12.5亿美元</strong>的新股、<strong>37.5亿美元</strong>的存托凭证（代表可转换优先股权益），以及计划从2026年第三季度起通过市价发行机制向市场出售的最高达<strong>20亿美元</strong>的普通股。</p><h3 id=\"id_1690287405\">AI狂热导致巨额现金流缺口</h3><p>这笔融资彻底暴露了AI硬件业务极其“烧钱”的本质。受资本密集型属性拖累，截至2026年3月的前12个月内，超微电脑已累计录得高达<strong>68亿美元的负自由现金流</strong>，急需寻找新的资金来源。公司此举正效仿谷歌、Meta等科技巨头的步伐，试图通过出售股票，来为预计规模高达8200亿美元的全球AI基础设施建设狂潮提供资金血液。</p><h3 id=\"id_3017106565\">利润率波动叠加法律隐患</h3><p>投资者更深层的质疑在于，庞大的订单最终能否转化为实际利润。今年2月，公司毛利率曾大幅压缩至<strong>6.3%</strong>，引发市场高度关注；虽然5月财报显示毛利率已回升至<strong>9.9%</strong>，但管理层对当前季度的指引回落至<strong>8.2%至8.4%</strong>，盈利复苏的可持续性依然存疑。此外，公司联合创始人及另外两人在今年3月因涉嫌密谋等遭到指控，这一悬而未决的法律余波至今仍是对股价的重大隐患。</p></body></html>","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>爆棚订单难抵70亿融资恐慌，超微电脑股价重挫，AI基建竟成烧钱无底洞？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n爆棚订单难抵70亿融资恐慌，超微电脑股价重挫，AI基建竟成烧钱无底洞？\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-10 10:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><h3 id=\"id_541986810\">巨额融资触发盘后大跌</h3><p>周二，<a href=\"https://laohu8.com/S/SMCI\">超微电脑</a> 宣布了一项总规模高达<strong>70亿美元</strong>的股权及股权挂钩融资计划。由于投资者对人工智能热潮带来的资金成本急剧上升感到愈发担忧，该消息直接导致其股价在盘后交易中重挫7%。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/19a2bf810c3f6d343dc7c491c4876483\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><h3 id=\"id_1947160623\">390亿订单难掩“抽水”恐慌</h3><p>尽管公司目前手握高达<strong>390亿美元</strong>的庞大积压订单，释放了强烈的积极信号，但华尔街依然被这份融资计划引发的稀释效应“吓坏了”。根据披露细节，这70亿美元包含了<strong>12.5亿美元</strong>的新股、<strong>37.5亿美元</strong>的存托凭证（代表可转换优先股权益），以及计划从2026年第三季度起通过市价发行机制向市场出售的最高达<strong>20亿美元</strong>的普通股。</p><h3 id=\"id_1690287405\">AI狂热导致巨额现金流缺口</h3><p>这笔融资彻底暴露了AI硬件业务极其“烧钱”的本质。受资本密集型属性拖累，截至2026年3月的前12个月内，超微电脑已累计录得高达<strong>68亿美元的负自由现金流</strong>，急需寻找新的资金来源。公司此举正效仿谷歌、Meta等科技巨头的步伐，试图通过出售股票，来为预计规模高达8200亿美元的全球AI基础设施建设狂潮提供资金血液。</p><h3 id=\"id_3017106565\">利润率波动叠加法律隐患</h3><p>投资者更深层的质疑在于，庞大的订单最终能否转化为实际利润。今年2月，公司毛利率曾大幅压缩至<strong>6.3%</strong>，引发市场高度关注；虽然5月财报显示毛利率已回升至<strong>9.9%</strong>，但管理层对当前季度的指引回落至<strong>8.2%至8.4%</strong>，盈利复苏的可持续性依然存疑。此外，公司联合创始人及另外两人在今年3月因涉嫌密谋等遭到指控，这一悬而未决的法律余波至今仍是对股价的重大隐患。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/2d29b42ad1fd77a8e56cc60174ce783b","relate_stocks":{"SMCY":"SMCI期权收益策略ETF-YieldMax","SMCI":"超微电脑","SMCL":"2倍做多SMCI ETF-Graniteshares","SMCC":"Defiance Leveraged Long + Income SMCI ETF","SMCZ":"2倍做空SMCI ETF-Defiance","SMCX":"2倍做多SMCI ETF-Defiance","SMYY":"GraniteShares YieldBOOST SMCI ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153489432","content_text":"巨额融资触发盘后大跌周二，超微电脑 宣布了一项总规模高达70亿美元的股权及股权挂钩融资计划。由于投资者对人工智能热潮带来的资金成本急剧上升感到愈发担忧，该消息直接导致其股价在盘后交易中重挫7%。390亿订单难掩“抽水”恐慌尽管公司目前手握高达390亿美元的庞大积压订单，释放了强烈的积极信号，但华尔街依然被这份融资计划引发的稀释效应“吓坏了”。根据披露细节，这70亿美元包含了12.5亿美元的新股、37.5亿美元的存托凭证（代表可转换优先股权益），以及计划从2026年第三季度起通过市价发行机制向市场出售的最高达20亿美元的普通股。AI狂热导致巨额现金流缺口这笔融资彻底暴露了AI硬件业务极其“烧钱”的本质。受资本密集型属性拖累，截至2026年3月的前12个月内，超微电脑已累计录得高达68亿美元的负自由现金流，急需寻找新的资金来源。公司此举正效仿谷歌、Meta等科技巨头的步伐，试图通过出售股票，来为预计规模高达8200亿美元的全球AI基础设施建设狂潮提供资金血液。利润率波动叠加法律隐患投资者更深层的质疑在于，庞大的订单最终能否转化为实际利润。今年2月，公司毛利率曾大幅压缩至6.3%，引发市场高度关注；虽然5月财报显示毛利率已回升至9.9%，但管理层对当前季度的指引回落至8.2%至8.4%，盈利复苏的可持续性依然存疑。此外，公司联合创始人及另外两人在今年3月因涉嫌密谋等遭到指控，这一悬而未决的法律余波至今仍是对股价的重大隐患。","news_type":1,"symbols_score_info":{"SMCI":2,"SMCL":0.6,"SMCZ":0.6,"SMCY":0.6,"SMCC":0.6,"SMYY":0.6,"SMCX":0.6}},"isVote":1,"tweetType":1,"viewCount":11,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":573590318379048,"gmtCreate":1781066336144,"gmtModify":1781067989016,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/09866\">$蔚来-SW(09866)$&nbsp;</a> 市值不足一千亿[弱]&nbsp; [弱]&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/09866\">$蔚来-SW(09866)$&nbsp;</a> 市值不足一千亿[弱]&nbsp; [弱]&nbsp;&nbsp;","text":"$蔚来-SW(09866)$ 市值不足一千亿[弱] [弱]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/573590318379048","isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":573003050539528,"gmtCreate":1780915724462,"gmtModify":1780916657122,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/02476\">$胜宏科技(02476)$</a> 利好有色","listText":"<a href=\"https://laohu8.com/S/02476\">$胜宏科技(02476)$</a> 利好有色","text":"$胜宏科技(02476)$ 利好有色","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/573003050539528","isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":571640110449248,"gmtCreate":1780584861852,"gmtModify":1780585459210,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/MSFT\">$微软(MSFT)$&nbsp;</a> 空！！","listText":"<a href=\"https://laohu8.com/S/MSFT\">$微软(MSFT)$&nbsp;</a> 空！！","text":"$微软(MSFT)$ 空！！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/571640110449248","isVote":1,"tweetType":1,"viewCount":162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":571231734477136,"gmtCreate":1780485054229,"gmtModify":1780491252233,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$&nbsp;</a> 赶紧卖！要回调100以下的","listText":"<a href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$&nbsp;</a> 赶紧卖！要回调100以下的","text":"$英特尔(INTC)$ 赶紧卖！要回调100以下的","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/571231734477136","isVote":1,"tweetType":1,"viewCount":1234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":566947291705944,"gmtCreate":1779436070078,"gmtModify":1779436072359,"author":{"id":"3525099269122154","authorId":"3525099269122154","name":"T20260224001","avatar":"https://static.tigerbbs.com/53ea93bd5e201fbd6d9bc878e74d9113","crmLevel":8,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3525099269122154","idStr":"3525099269122154"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/09866\">$蔚来-SW(09866)$&nbsp;</a> 跌倒$30港币才到底！","listText":"<a href=\"https://laohu8.com/S/09866\">$蔚来-SW(09866)$&nbsp;</a> 跌倒$30港币才到底！","text":"$蔚来-SW(09866)$ 跌倒$30港币才到底！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/566947291705944","isVote":1,"tweetType":1,"viewCount":1297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"followers","isTTM":false}