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06-17

这屁真恶心

成本高企倒逼转向，微软考虑以DeepSeek替换昂贵的美国AI模型

微软正考虑将DeepSeek V4引入其企业AI工具Copilot Cowork，以替代更昂贵的OpenAI和Anthropic模型，预计数周内公布决定。高盛近期提出问题——更低的智能成本，究竟是在创造需求，还是在摧毁定价权？微软似乎已经“用脚投了票”。

成本高企倒逼转向，微软考虑以DeepSeek替换昂贵的美国AI模型

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

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Cowork此前向企业用户提供无限制使用，但这条路已经走不通了。</p><p style=\"text-align: left;\">微软负责Copilot业务的执行副总裁Charles Lamanna直言：&#34;有些用户每周完成数百项任务，效率很高——但代价是成本可以飙得非常高。&#34;</p><p style=\"text-align: left;\">为此，微软宣布将Copilot Cowork切换为按计算量计费的使用模式。与此同时，微软正在探索引入DeepSeek V4微调版本或其他开源模型，以大幅压低模型调用成本。</p><p style=\"text-align: left;\">这背后的逻辑很简单：中国模型便宜，美国模型贵。Token定价数据，中美模型在输入/输出定价上存在显著差距。</p><h2 style=\"text-align: left;\">“半价追平顶尖模型”——高盛提出“价值万亿的问题”</h2><p style=\"text-align: left;\">高盛援引OpenRouter的最新实验结果显示：由Gemini 3 Flash、Kimi K2.6和DeepSeek V4 Pro组成的多模型组合，在基准测试中全面超越单独运行的GPT-5.5和Opus 4.8，并以约一半的成本，将性能差距缩小至距Fable 5不足1%以内。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bf49459e7ed48bd5fb0eefd5cc56edbb\" data-align=\"center\" tg-width=\"900\" tg-height=\"428\"/><span></span></p><p style=\"text-align: left;\">高盛Privorotsky将这一结果定性为&#34;市场一直低估的方向&#34;。</p><p style=\"text-align: left;\">这一趋势的市场含义是双向的。</p><p style=\"text-align: left;\">看多逻辑：成本下降、门槛降低，最终应推动AI的使用量和算力需求同步扩张。</p><p style=\"text-align: left;\">看空逻辑：这直接加速Token通缩，动摇现有模型经济学的可持续性。</p><p style=\"text-align: left;\">Privorotsky将核心矛盾提炼为一个问题：<strong>&#34;更低的智能成本，究竟创造的需求多，还是摧毁的定价权多？&#34;这个问题，他称之为&#34;价值万亿的问题&#34;。</strong></p><h2 style=\"text-align: left;\">便宜的AI，到底是好事还是坏事？</h2><p style=\"text-align: left;\">真正的冲击：万亿资本支出的逻辑还成立吗？</p><p style=\"text-align: left;\">微软的这个选择，对市场的冲击远不止于一家公司的供应商切换。</p><p style=\"text-align: left;\">过去两年，科技巨头们砸下或承诺砸下天量资本支出，背后的核心假设之一是：企业客户会持续采购高价的美国顶尖AI模型，收入端能够撑起这些投入。</p><p style=\"text-align: left;\">但如果连微软自己——<strong>OpenAI最大的投资方和合作伙伴——都开始嫌OpenAI太贵、转而考虑中国开源模型，这个假设的基础就开始松动。</strong></p><p style=\"text-align: left;\">Axios报道同时指出，<strong>自&#34;Token价格创历史新高&#34;的争议发酵以来，硅谷数据Token指数已连续13个交易日中有12个交易日下跌，市场用脚投票的信号相当明显。</strong></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe429bd3f1e48e39cc20d8062e548589\" data-align=\"center\" tg-width=\"1024\" tg-height=\"563\"/><span></span></p><p style=\"text-align: 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}\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成本高企倒逼转向，微软考虑以DeepSeek替换昂贵的美国AI模型\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-06-17 12:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><a href=\"https://laohu8.com/S/MSFT\">微软</a>正在考虑将中国开源模型DeepSeek V4的微调版本，引入其企业AI工具Copilot Cowork，作为OpenAI和Anthropic模型的低成本替代选项。据Axios报道，微软预计将在未来数周内确定并公布最终选择。</p><p style=\"text-align: left;\">这一消息与<a href=\"https://laohu8.com/S/GS\">高盛</a>Delta-One交易台负责人Rich Privorotsky近日提出的核心命题高度呼应——他将当前AI行业的定价困局称为<strong>“价值万亿的问题”：更低的智能成本，究竟是在创造需求，还是在摧毁定价权？</strong></p><p style=\"text-align: left;\"><strong>对于这一问题，微软似乎已经“用脚投了票”。</strong>数据同样互相印证，追踪AI Token价格的Silicon Data Token指数已连续13个交易日中有12个交易日下跌，直奔近期低点。</p><h2 style=\"text-align: left;\">微软为什么要换模型？成本压力已经压不住了</h2><p style=\"text-align: left;\">微软的Copilot Cowork此前向企业用户提供无限制使用，但这条路已经走不通了。</p><p style=\"text-align: left;\">微软负责Copilot业务的执行副总裁Charles Lamanna直言：&#34;有些用户每周完成数百项任务，效率很高——但代价是成本可以飙得非常高。&#34;</p><p style=\"text-align: left;\">为此，微软宣布将Copilot Cowork切换为按计算量计费的使用模式。与此同时，微软正在探索引入DeepSeek V4微调版本或其他开源模型，以大幅压低模型调用成本。</p><p style=\"text-align: left;\">这背后的逻辑很简单：中国模型便宜，美国模型贵。Token定价数据，中美模型在输入/输出定价上存在显著差距。</p><h2 style=\"text-align: left;\">“半价追平顶尖模型”——高盛提出“价值万亿的问题”</h2><p style=\"text-align: left;\">高盛援引OpenRouter的最新实验结果显示：由Gemini 3 Flash、Kimi K2.6和DeepSeek V4 Pro组成的多模型组合，在基准测试中全面超越单独运行的GPT-5.5和Opus 4.8，并以约一半的成本，将性能差距缩小至距Fable 5不足1%以内。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bf49459e7ed48bd5fb0eefd5cc56edbb\" data-align=\"center\" tg-width=\"900\" tg-height=\"428\"/><span></span></p><p style=\"text-align: left;\">高盛Privorotsky将这一结果定性为&#34;市场一直低估的方向&#34;。</p><p style=\"text-align: left;\">这一趋势的市场含义是双向的。</p><p style=\"text-align: left;\">看多逻辑：成本下降、门槛降低，最终应推动AI的使用量和算力需求同步扩张。</p><p style=\"text-align: left;\">看空逻辑：这直接加速Token通缩，动摇现有模型经济学的可持续性。</p><p style=\"text-align: left;\">Privorotsky将核心矛盾提炼为一个问题：<strong>&#34;更低的智能成本，究竟创造的需求多，还是摧毁的定价权多？&#34;这个问题，他称之为&#34;价值万亿的问题&#34;。</strong></p><h2 style=\"text-align: left;\">便宜的AI，到底是好事还是坏事？</h2><p style=\"text-align: left;\">真正的冲击：万亿资本支出的逻辑还成立吗？</p><p style=\"text-align: left;\">微软的这个选择，对市场的冲击远不止于一家公司的供应商切换。</p><p style=\"text-align: left;\">过去两年，科技巨头们砸下或承诺砸下天量资本支出，背后的核心假设之一是：企业客户会持续采购高价的美国顶尖AI模型，收入端能够撑起这些投入。</p><p style=\"text-align: left;\">但如果连微软自己——<strong>OpenAI最大的投资方和合作伙伴——都开始嫌OpenAI太贵、转而考虑中国开源模型，这个假设的基础就开始松动。</strong></p><p style=\"text-align: left;\">Axios报道同时指出，<strong>自&#34;Token价格创历史新高&#34;的争议发酵以来，硅谷数据Token指数已连续13个交易日中有12个交易日下跌，市场用脚投票的信号相当明显。</strong></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe429bd3f1e48e39cc20d8062e548589\" data-align=\"center\" tg-width=\"1024\" tg-height=\"563\"/><span></span></p><p style=\"text-align: left;\">微软的多模型策略，也反映出一个更大的行业转向——不再押注单一供应商，而是根据任务复杂度和成本灵活调配模型。这对OpenAI和Anthropic而言，意味着议价能力正在被稀释。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ad8581d7328eb59be34271837a9018bb","relate_stocks":{"LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU0138981039.USD":"FIDELITY FUNDS SUSTAINABLE MULTI ASSET INCOME \"A\" INC","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU1202635105.USD":"ALLIANZ EUROPE INCOME AND GROWTH \"AM\" (USDHDG) INC","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU1032955483.USD":"NORDEA 1 STABLE RETURN 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ACC"},"source_url":"https://wallstreetcn.com/articles/3774869","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2644679033","content_text":"微软正在考虑将中国开源模型DeepSeek V4的微调版本，引入其企业AI工具Copilot Cowork，作为OpenAI和Anthropic模型的低成本替代选项。据Axios报道，微软预计将在未来数周内确定并公布最终选择。这一消息与高盛Delta-One交易台负责人Rich Privorotsky近日提出的核心命题高度呼应——他将当前AI行业的定价困局称为“价值万亿的问题”：更低的智能成本，究竟是在创造需求，还是在摧毁定价权？对于这一问题，微软似乎已经“用脚投了票”。数据同样互相印证，追踪AI Token价格的Silicon Data Token指数已连续13个交易日中有12个交易日下跌，直奔近期低点。微软为什么要换模型？成本压力已经压不住了微软的Copilot Cowork此前向企业用户提供无限制使用，但这条路已经走不通了。微软负责Copilot业务的执行副总裁Charles Lamanna直言：\"有些用户每周完成数百项任务，效率很高——但代价是成本可以飙得非常高。\"为此，微软宣布将Copilot Cowork切换为按计算量计费的使用模式。与此同时，微软正在探索引入DeepSeek V4微调版本或其他开源模型，以大幅压低模型调用成本。这背后的逻辑很简单：中国模型便宜，美国模型贵。Token定价数据，中美模型在输入/输出定价上存在显著差距。“半价追平顶尖模型”——高盛提出“价值万亿的问题”高盛援引OpenRouter的最新实验结果显示：由Gemini 3 Flash、Kimi K2.6和DeepSeek V4 Pro组成的多模型组合，在基准测试中全面超越单独运行的GPT-5.5和Opus 4.8，并以约一半的成本，将性能差距缩小至距Fable 5不足1%以内。高盛Privorotsky将这一结果定性为\"市场一直低估的方向\"。这一趋势的市场含义是双向的。看多逻辑：成本下降、门槛降低，最终应推动AI的使用量和算力需求同步扩张。看空逻辑：这直接加速Token通缩，动摇现有模型经济学的可持续性。Privorotsky将核心矛盾提炼为一个问题：\"更低的智能成本，究竟创造的需求多，还是摧毁的定价权多？\"这个问题，他称之为\"价值万亿的问题\"。便宜的AI，到底是好事还是坏事？真正的冲击：万亿资本支出的逻辑还成立吗？微软的这个选择，对市场的冲击远不止于一家公司的供应商切换。过去两年，科技巨头们砸下或承诺砸下天量资本支出，背后的核心假设之一是：企业客户会持续采购高价的美国顶尖AI模型，收入端能够撑起这些投入。但如果连微软自己——OpenAI最大的投资方和合作伙伴——都开始嫌OpenAI太贵、转而考虑中国开源模型，这个假设的基础就开始松动。Axios报道同时指出，自\"Token价格创历史新高\"的争议发酵以来，硅谷数据Token指数已连续13个交易日中有12个交易日下跌，市场用脚投票的信号相当明显。微软的多模型策略，也反映出一个更大的行业转向——不再押注单一供应商，而是根据任务复杂度和成本灵活调配模型。这对OpenAI和Anthropic而言，意味着议价能力正在被稀释。","news_type":1,"symbols_score_info":{"MSFO":0.6,"MSFT":1.96,"MSFY":0.6,"MSFD":0.6,"MSFU":0.6,"MSFX":0.6,"MSFW":0.6,"GSX":0.6,"MSFL":0.6}},"isVote":1,"tweetType":1,"viewCount":126,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"optionInvolvedFlag":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}