{"id":761522,"date":"2026-04-14T20:03:49","date_gmt":"2026-04-14T12:03:49","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=761522"},"modified":"2026-04-14T20:03:49","modified_gmt":"2026-04-14T12:03:49","slug":"%e9%a9%ac%e6%96%af%e5%85%8b%e7%9a%84spacex%e6%96%b0%e6%95%b0%e6%8d%ae%ef%bc%9a%e6%98%9f%e9%93%be%e6%88%90%e7%bb%9d%e5%af%b9%e6%a0%b8%e5%bf%83","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=761522","title":{"rendered":"\u9a6c\u65af\u514b\u7684SpaceX\u65b0\u6570\u636e\uff1a\u661f\u94fe\u6210\u7edd\u5bf9\u6838\u5fc3"},"content":{"rendered":"<div><img src=\"https:\/\/finance.sina.com.cn\/\/n.sinaimg.cn\/finance\/transform\/59\/w550h309\/20260414\/6231-6ef868bfc301e917000e371556881291.png\" alt=\"\u9a6c\u65af\u514b\u7684SpaceX\u65b0\u6570\u636e\uff1a\u661f\u94fe\u6210\u7edd\u5bf9\u6838\u5fc3\" style=\" display:block; margin-left:auto; margin-right:auto; \"><span><\/span><\/div>\n<p>\u4e00\u7ec4\u5168\u65b0\u7684\u8d22\u52a1\u6570\u636e\u6e05\u6670\u5730\u63ed\u793a\uff0c\u57c3\u9686\u30fb<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%a9%ac%e6%96%af%e5%85%8b\" title=\"View all posts in \u9a6c\u65af\u514b\" target=\"_blank\" class=\"tag_link\">\u9a6c\u65af\u514b<\/a>\uff08Elon Musk\uff09\u65d7\u4e0b\u7684 SpaceX \u82e5\u60f3\u6210\u529f\u542f\u52a8\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08<a href=\"https:\/\/www.alphaseek.cn\/?tag=ipo\" title=\"View all posts in IPO\" target=\"_blank\" class=\"tag_link\">IPO<\/a>\uff09\uff0c\u5176\u6210\u8d25\u5c06\u5b8c\u5168\u53d6\u51b3\u4e8e<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6295\u8d44<\/a>\u8005\u662f\u5426\u8ba4\u53ef\u5176\u661f\u94fe\uff08Starlink\uff09\u536b\u661f\u4e92\u8054\u7f51\u4e1a\u52a1\u7684\u589e\u957f\u6f5c\u529b\u3002<\/p>\n<p>\u636e\u300aThe Information\u300b\u83b7\u53d6\u7684\u6b64\u524d\u672a\u516c\u5f00\u7684\u8d22\u52a1\u6570\u636e\u663e\u793a\uff0cSpaceX \u5185\u90e8\u53e6\u5916\u4e24\u5927\u4e1a\u52a1 \u2014\u2014 \u706b\u7bad\u53d1\u5c04\u4e0e<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%ba%ba%e5%b7%a5%e6%99%ba%e8%83%bd\" title=\"View all posts in \u4eba\u5de5\u667a\u80fd\" target=\"_blank\" class=\"tag_link\">\u4eba\u5de5\u667a\u80fd<\/a>\uff08AI\uff09\u2014\u2014 \u76ee\u524d\u5747\u5904\u4e8e \u201c\u70e7\u94b1\u201d \u72b6\u6001\uff0c\u5176\u589e\u957f\u89c4\u6a21\u5c1a\u4e0d\u8db3\u4ee5\u652f\u6491\u6295\u8d44\u8005\u4e3a\u9a6c\u65af\u514b\u6240\u671f\u671b\u7684\u60ca\u4eba\u4f30\u503c\u4e70\u5355\u3002<\/p>\n<p>\u6570\u636e\u663e\u793a\uff0cSpaceX \u7684\u661f\u94fe\u4e92\u8054\u7f51\u8fde\u63a5\u4e1a\u52a1\u53bb\u5e74\u8425\u6536\u8fbe 114 \u4ebf\u7f8e\u5143\uff0c\u540c\u6bd4\u589e\u957f 50%\uff0c\u5360\u516c\u53f8\u603b\u9500\u552e\u989d\u7684 61%\u3002\u8be5\u4e1a\u52a1\u7ebf\u4e5f\u662f\u516c\u53f8\u552f\u4e00\u5b9e\u73b0\u73b0\u91d1\u76c8\u5229\u7684\u677f\u5757\u3002<\/p>\n<p>\u661f\u94fe\u53bb\u5e74\u7684\u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\uff08\u542b\u80a1\u6743\u6fc0\u52b1\u8c03\u6574\uff09\u4e3a 72 \u4ebf\u7f8e\u5143\uff0c\u610f\u5473\u7740\u5176\u8425\u6536\u8c03\u6574\u540e EBITDA \u5229\u6da6\u7387\u9ad8\u8fbe 63%\uff0c\u8fd9\u4e00\u6570\u5b57\u8f83 2023 \u5e74\u7684 41% \u548c 2024 \u5e74\u7684 50% \u5b9e\u73b0\u4e86\u6301\u7eed\u6500\u5347\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0cSpaceX \u5728\u65b0\u4e00\u4ee3\u706b\u7bad\u7814\u53d1\u53ca\u6570\u636e\u4e2d\u5fc3\u5efa\u8bbe\u4e0a\u7684\u5de8\u989d\u6295\u5165\uff0c\u5bfc\u81f4\u5176\u822a\u5929\u4e0e AI \u4e1a\u52a1\u677f\u5757\u5229\u6da6\u7387\u6301\u7eed\u4e0b\u6ed1\uff0c\u4e14\u5904\u4e8e \u201c\u70e7\u94b1\u201d \u72b6\u6001\u3002<\/p>\n<p>\u6b64\u524d\u4f30\u503c\u8fbe<strong>1.25 \u4e07\u4ebf\u7f8e\u5143<\/strong>\u7684 SpaceX \u8ba1\u5212\u4e8e\u4eca\u5e74 6 \u6708<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%8a%e5%b8%82\" title=\"View all posts in \u4e0a\u5e02\" target=\"_blank\" class=\"tag_link\">\u4e0a\u5e02<\/a>\uff0c\u8fd9\u6709\u671b\u6210\u4e3a\u53f2\u4e0a\u89c4\u6a21\u6700\u5927\u7684 IPO\u3002\u4eca\u5e74 2 \u6708\uff0cSpaceX \u4ee5 2500 \u4ebf\u7f8e\u5143\u7684\u4f30\u503c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%94%b6%e8%b4%ad\" title=\"View all posts in \u6536\u8d2d\" target=\"_blank\" class=\"tag_link\">\u6536\u8d2d<\/a>\u4e86\u9a6c\u65af\u514b\u62e5\u6709\u7684 AI \u516c\u53f8 xAI\u3002\u300aThe Information\u300b\u4e0a\u5468\u62a5\u9053\u79f0\uff0cSpaceX \u6574\u4f53\u51c0\u4e8f\u635f\u8fd1 50 \u4ebf\u7f8e\u5143\u3002<\/p>\n<div><img src=\"https:\/\/finance.sina.com.cn\/\/n.sinaimg.cn\/finance\/transform\/737\/w546h191\/20260414\/57a9-a75db545ad60379738cad399aeea2c95.png\" alt=\"\u9a6c\u65af\u514b\u7684SpaceX\u65b0\u6570\u636e\uff1a\u661f\u94fe\u6210\u7edd\u5bf9\u6838\u5fc3\" style=\" display:block; margin-left:auto; margin-right:auto; \"><span><\/span><\/div>\n<p>\u76ee\u524d\uff0cSpaceX \u6b63\u901a\u8fc7\u5411\u592a\u7a7a\u53d1\u5c04\u66f4\u5927\u89c4\u6a21\u7684\u536b\u661f\u661f\u5ea7\u6765\u6269\u5f20\u661f\u94fe\u4e1a\u52a1\uff0c\u4ee5\u671f\u8986\u76d6\u66f4\u591a\u7c7b\u578b\u7684\u5ba2\u6237\uff0c\u5305\u62ec\u90a3\u4e9b\u5728\u57ce\u5e02\u4e2d\u653e\u5f03\u4f20\u7edf\u5bbd\u5e26\u8fd0\u8425\u5546\u800c\u9009\u62e9\u661f\u94fe\u7684\u7528\u6237\u3002\u201c\u661f\u94fe\u7684\u7f51\u7edc\u5bb9\u91cf\u5f7b\u5e95\u98a0\u8986\u4e86\u4eba\u4eec\u4ee5\u5f80\u7684\u8ba4\u77e5\u3002\u201d \u594e\u5c14\u8482\u822a\u5929\u54a8\u8be2\u516c\u53f8\u7684\u536b\u661f\u4e0e\u822a\u5929\u5206\u6790\u5e08\u514b\u91cc\u65af\u30fb\u594e\u5c14\u8482\uff08Chris Quilty\uff09\u5728\u8c08\u53ca\u8be5\u536b\u661f\u7f51\u7edc\u7684\u6570\u636e\u4f20\u8f93\u80fd\u529b\u65f6\u5982\u6b64\u8bc4\u4ef7\u3002<\/p>\n<p>\u6295\u8d44\u8005\u5fc5\u987b\u6743\u8861\uff0c\u661f\u94fe\u7684\u53d1\u5c55\u524d\u666f\u662f\u5426\u8db3\u4ee5\u62b5\u6d88\u516c\u53f8\u5176\u4ed6\u4e1a\u52a1\u7684\u4e0d\u786e\u5b9a\u6027\u3002SpaceX \u671f\u671b\u5c06\u4e09\u5927\u4e1a\u52a1\u677f\u5757\u8054\u52a8\u8d77\u6765\uff0c\u5176\u903b\u8f91\u662f\uff1a\u501f\u52a9\u5728\u706b\u7bad\u53d1\u5c04\u9886\u57df\u7684\u4e3b\u5bfc\u5730\u4f4d\uff0c\u901a\u8fc7\u5411\u592a\u7a7a\u90e8\u7f72\u6570\u636e\u4e2d\u5fc3\uff0c\u6765\u9a71\u52a8 AI \u4e1a\u52a1\u7684\u53d1\u5c55\u3002<\/p>\n<p>\u6570\u636e\u663e\u793a\uff0c\u706b\u7bad\u53d1\u5c04\u4e1a\u52a1\u53bb\u5e74\u8425\u6536\u4ec5\u589e\u957f 8%\uff0c\u81f3 41 \u4ebf\u7f8e\u5143\u3002SpaceX \u65d7\u4e0b 160 \u4f59\u6b21\u53d1\u5c04\u4efb\u52a1\u4e2d\uff0c\u5927\u90e8\u5206\u90fd\u662f\u4e3a\u4e86\u90e8\u7f72\u81ea\u5bb6\u7684\u661f\u94fe\u536b\u661f\u3002\u594e\u5c14\u8482\u8868\u793a\uff0c\u5176\u4ed6\u5ba2\u6237\u867d\u5305\u62ec\u653f\u5e9c\u673a\u6784\u53ca\u4e3a\u56fd\u5bb6\u5b89\u5168\u6216\u56fe\u50cf\u4e1a\u52a1\u53d1\u5c04\u536b\u661f\u7684\u4f01\u4e1a\uff0c\u4f46\u8fd9\u4e00\u5e02\u573a\u89c4\u6a21\u6709\u9650\u3002<\/p>\n<p>\u5305\u542b X \u793e\u4ea4<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%aa%92%e4%bd%93\" title=\"View all posts in \u5a92\u4f53\" target=\"_blank\" class=\"tag_link\">\u5a92\u4f53<\/a>\u5e73\u53f0\u53ca\u6a21\u578b\u5f00\u53d1\u516c\u53f8 xAI \u5728\u5185\u7684 SpaceX AI \u4e1a\u52a1\uff0c\u53bb\u5e74\u8425\u6536\u4ec5\u589e\u957f 23%\uff0c\u81f3 32 \u4ebf\u7f8e\u5143\uff0c\u65e0\u8bba\u5728\u589e\u957f\u901f\u5ea6\u8fd8\u662f\u89c4\u6a21\u4e0a\uff0c\u5747\u8fdc\u843d\u540e\u4e8e Anthropic \u548c <a href=\"https:\/\/www.alphaseek.cn\/?tag=openai\" title=\"View all posts in OpenAI\" target=\"_blank\" class=\"tag_link\">OpenAI<\/a>\u3002<\/p>\n<p>\u661f\u94fe\u4e1a\u52a1\u4ea7\u751f\u7684\u73b0\u91d1\uff0c\u5b9e\u9645\u4e0a\u8fdc\u4e0d\u8db3\u4ee5\u8986\u76d6\u5176\u4ed6\u4e1a\u52a1\u7684\u6d88\u8017\u3002\u6570\u636e\u663e\u793a\uff0c\u661f\u94fe\u7684\u81ea\u7531\u73b0\u91d1\u6d41\uff08\u8c03\u6574\u540e EBITDA \u51cf\u53bb\u8d44\u672c\u652f\u51fa\uff09\u7ea6\u4e3a 30 \u4ebf\u7f8e\u5143\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u706b\u7bad\u53d1\u5c04\u4e1a\u52a1\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u4e3a\u8d1f\u7ea6 30 \u4ebf\u7f8e\u5143\uff0c\u800c AI \u4e1a\u52a1\u7684\u73b0\u91d1\u6d88\u8017\u9ad8\u8fbe\u8fd1 140 \u4ebf\u7f8e\u5143\u3002<\/p>\n<p>\u6309\u6b64\u53e3\u5f84\u8ba1\u7b97\uff0cSpaceX \u6574\u4f53\u73b0\u91d1\u6d88\u8017\u7ea6\u4e3a 140 \u4ebf\u7f8e\u5143\u3002\u53bb\u5e74\uff0cSpaceX \u7684\u8d44\u672c\u652f\u51fa\u8fbe 207 \u4ebf\u7f8e\u5143\uff0c\u8d85\u8fc7\u4e86\u5176\u5168\u5e74\u8425\u6536\u603b\u989d\u3002<\/p>\n<p>\u300aThe Information\u300b\u6b64\u524d\u62a5\u9053\u79f0\uff0c\u53bb\u5e74 OpenAI \u548c Anthropic \u7684\u73b0\u91d1\u6d88\u8017\u8fdc\u4f4e\u4e8e SpaceX\uff0c\u5206\u522b\u4e3a 90 \u4ebf\u7f8e\u5143\u548c 40 \u4ebf\u7f8e\u5143\uff0c\u4e0d\u8fc7\u4e24\u5bb6\u516c\u53f8\u7684\u73b0\u91d1\u6d88\u8017\u6838\u7b97\u65b9\u5f0f\u53ef\u80fd\u5b58\u5728\u5dee\u5f02\u3002<\/p>\n<p>\u76ee\u524d\uff0c\u5e02\u573a\u5c1a\u4e0d\u6e05\u695a SpaceX \u5bf9\u4eca\u5e74\u8425\u6536\u7684\u9884\u6d4b\u3002<\/p>\n<p>\u5176\u9ad8\u8fbe<strong>1.25 \u4e07\u4ebf\u7f8e\u5143<\/strong>\u7684\u6700\u65b0\u4f30\u503c\uff08\u76f8\u5f53\u4e8e\u53bb\u5e74 EBITDA \u7684 266 \u500d\uff09\uff0c\u5bf9\u6295\u8d44\u8005\u800c\u8a00\u65e0\u7591\u662f\u4e00\u573a\u5de8\u5927\u7684\u4fe1\u5fc3\u8003\u9a8c\u3002\u8fd9\u4e00\u4f30\u503c\u500d\u6570\u663e\u8457\u9ad8\u4e8e\u540c\u884c\uff1aMeta \u5e73\u53f0\u3001\u5b57\u6bcd\u8868\uff08Alphabet\uff09\u548c\u82f1\u4f1f\u8fbe\uff08<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/NVDA.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">Nvidia<\/a><\/span><span><\/span>\uff09\u7684\u5e02\u76c8\u7387\u5206\u522b\u4e3a\u53bb\u5e74 EBITDA \u7684 16 \u500d\u300125 \u81f3 36 \u500d\u3002\u4e0e\u4e4b\u6700\u63a5\u8fd1\u7684\u5bf9\u6bd4\u6216\u8bb8\u662f\u9a6c\u65af\u514b\u7684\u53e6\u4e00\u5bb6\u5de8\u5934\u516c\u53f8<span><a href=\"https:\/\/stock.finance.sina.com.cn\/usstock\/quotes\/TSLA.html\" target=\"_blank\" data-sudaclick=\"content_marketkeywords_p\" rel=\"noopener\">\u7279\u65af\u62c9<\/a><\/span><span><\/span>\uff0c\u5176\u5e02\u76c8\u7387\u4e3a\u53bb\u5e74 EBITDA \u7684 119 \u500d\u3002<\/p>\n<p>\u8d23\u4efb\u7f16\u8f91\uff1a\u90ed\u660e\u715c <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e00\u7ec4\u5168\u65b0\u7684\u8d22\u52a1\u6570\u636e\u6e05\u6670\u5730\u63ed\u793a\uff0c\u57c3\u9686\u30fb\u9a6c\u65af\u514b\uff08Elon Musk\uff09\u65d7\u4e0b\u7684 SpaceX \u82e5\u60f3\u6210\u529f\u542f\u52a8\u9996\u6b21\u516c\u5f00\u52df\u80a1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[57,378,195,148,280,241,103,376],"views":5,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/761522"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=761522"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/761522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=761522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=761522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=761522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}