{"id":802597,"date":"2026-06-22T09:22:47","date_gmt":"2026-06-22T01:22:47","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=802597"},"modified":"2026-06-22T09:22:47","modified_gmt":"2026-06-22T01:22:47","slug":"%e5%a4%a7%e7%a9%ba%e5%a4%b4%e6%9f%a5%e8%af%ba%e6%96%af%ef%bc%9a%e5%bd%93%e5%89%8dai%e4%ba%a7%e4%b8%9a%e9%93%be%e5%ad%98%e5%9c%a8%e5%b7%a8%e5%a4%a7%e8%b4%a2%e5%8a%a1%e4%b8%8d","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=802597","title":{"rendered":"\u201c\u5927\u7a7a\u5934\u201d\u67e5\u8bfa\u65af\uff1a\u5f53\u524dAI\u4ea7\u4e1a\u94fe\u5b58\u5728\u5de8\u5927\u201c\u8d22\u52a1\u4e0d\u5339\u914d\u201d\uff0c\u201cAI\u4e91\u201d\u5b9e\u9645\u662f\u79df\u8d41\u4e2d\u4ecb\uff0c\u770b\u7a7aSpaceX"},"content":{"rendered":"<p>\u5f53AI\u6d6a\u6f6e\u4e0b\u7684\u201c\u5356\u6c34\u4eba\u201d\u8d5a\u5f97\u76c6\u6ee1\u94b5\u6ee1\u65f6\uff0c\u7b97\u529b\u57fa\u7840\u8bbe\u65bd\u7684\u771f\u5b9e<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>\u56de\u62a5\u7387\u7a76\u7adf\u662f\u4e00\u5730\u9e21\u6bdb\uff0c\u8fd8\u662f\u53d7\u5236\u4e8e\u7269\u7406\u6781\u9650\u7684\u957f\u671f\u5370\u949e\u673a\uff1f<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%8d%8e%e5%b0%94%e8%a1%97\" title=\"View all posts in \u534e\u5c14\u8857\" target=\"_blank\" class=\"tag_link\">\u534e\u5c14\u8857<\/a>\u9876\u7ea7\u7a7a\u5934\u4e0e\u79d1\u6280\u591a\u5934\u7ed9\u51fa\u4e86\u622a\u7136\u4e0d\u540c\u7684\u7b54\u6848\u3002<\/p>\n<p>6\u670821\u65e5\uff0c\u7531Jack Farley\u4e3b\u6301\u7684Macro Minds\u7814\u8ba8\u4f1a\u4e0a\uff0c\u534e\u5c14\u8857\u4f20\u5947\u7a7a\u5934\u3001\u201c\u5b89\u7136\u7ec8\u7ed3\u8005\u201d\u5409\u59c6&middot;\u67e5\u8bfa\u65af\uff08Jim Chanos\uff09\uff0c\u4e0e\u79d1\u6280<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%af%b9%e5%86%b2%e5%9f%ba%e9%87%91\" title=\"View all posts in \u5bf9\u51b2\u57fa\u91d1\" target=\"_blank\" class=\"tag_link\">\u5bf9\u51b2\u57fa\u91d1<\/a>\u7684Analog Century Capital\u7684\u5408\u4f19\u4eba\u74e6\u5c14&middot;\u5179\u62c9\u7279\u592b\uff08Val Zlatev\uff09\u540c\u53f0\uff0c\u5c31AI\u8d44\u672c\u652f\u51fa\u7e41\u8363\u3001\u534a\u5bfc\u4f53\u5468\u671f\u53ca\u7b97\u529b<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9f%ba%e5%bb%ba\" title=\"View all posts in \u57fa\u5efa\" target=\"_blank\" class=\"tag_link\">\u57fa\u5efa<\/a>\u7684\u5546\u4e1a\u6a21\u5f0f\u5c55\u5f00\u4e86\u6df1\u5ea6\u6fc0\u8fa9\u3002<\/p>\n<\/p>\n<p>\uff08\u5de6\uff1aJim Chanos\uff1b\u4e2d\uff1aVal Zlatev\uff1b\u53f3\uff1aJack Farley\uff09<\/p>\n<p>\u4f20\u5947\u7a7a\u5934\u67e5\u8bfa\u65af\u8b66\u544a\uff0c<strong>\u5f53\u524d<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%a7%91%e6%8a%80%e8%a1%8c%e4%b8%9a\" title=\"View all posts in \u79d1\u6280\u884c\u4e1a\" target=\"_blank\" class=\"tag_link\">\u79d1\u6280\u884c\u4e1a<\/a>\u6b63\u7ecf\u5386\u7c7b\u4f3c90\u5e74\u4ee3\u672b\u7684\u8d44\u672c\u652f\u51fa\u70ed\u6f6e\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%8a%af%e7%89%87\" title=\"View all posts in \u82af\u7247\" target=\"_blank\" class=\"tag_link\">\u82af\u7247<\/a>\u4f9b\u5e94\u5546\u53ef\u4ee5\u7acb\u5373\u786e\u8ba4\u6536\u5165\uff0c\u800c\u8d85\u5927\u89c4\u6a21<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%ba%91%e6%9c%8d%e5%8a%a1\" title=\"View all posts in \u4e91\u670d\u52a1\" target=\"_blank\" class=\"tag_link\">\u4e91\u670d\u52a1<\/a>\u5546\u5c06AI\u8d44\u672c\u652f\u51fa\u8d44\u672c\u5316\u3002<\/strong><\/p>\n<p>\u4e91\u670d\u52a1\u5546\u901a\u8fc7\u56db\u81f3\u4e03\u5e74\u6298\u65e7\u644a\u9500\uff0c\u800c\u975e\u76f4\u63a5\u8ba1\u5165\u8fd0\u8425\u5f00\u652f\u3002<strong>\u8fd9\u79cd\u201c\u65f6\u95f4\u9519\u914d\u201d\u66fe\u5bfc\u81f4\u5f53\u5e74\u79d1\u6280\u80a1\u5229\u6da6\u66b4\u8dcc40%\u3002<\/strong><\/p>\n<p>\u6b64\u5916\uff0c\u67e5\u8bfa\u65af\u8ba4\u4e3a<strong>\u7b97\u529b\u79df\u8d41\uff08\u5982CoreWeave\uff09\u672c\u8d28\u4e0a\u662f\u56de\u62a5\u7387\u4ec5\u4e3a\u4e2a\u4f4d\u6570\u7684\u91d1\u878d\u79df\u8d41\u4e1a\u52a1\u3002<\/strong><\/p>\n<p>\u7269\u7406\u5b66\u5bb6\u51fa\u8eab\u7684\u534e\u5c14\u8857\u6295\u8d44\u4eba\u5179\u62c9\u7279\u592b\u5219\u53cd\u9a73\u79f0\uff0c<strong>\u771f\u5b9e\u8bcd\u5143\u9700\u6c42\u7206\u53d1\u5bfc\u81f4\u8001\u65e7GPU\u79df\u91d1\u5747\u5728\u98d9\u5347\uff0c\u4e14\u82f1\u4f1f\u8fbe\uff0815\u500d2027\u5e74EPS\uff09\u4f30\u503c\u8fdc\u672a\u8fbe1999\u5e74\u6ce1\u6cab\u6c34\u5e73<\/strong>\u3002<\/p>\n<p>\u4ed6\u8fdb\u4e00\u6b65\u6307\u51fa<strong>\u7531\u4e8e\u534a\u5bfc\u4f53\u8bbe\u5907\u4ea7\u80fd\u5e74\u5747\u589e\u957f\u4e0a\u9650\u4ec5\u4e3a30%\uff0c\u5b58\u50a8\u82af\u7247\u7684\u7d27\u7f3a\u4e0e\u9ad8\u4ef7\u5468\u671f\u5c06\u6bd4\u5e02\u573a\u9884\u671f\u7684\u66f4\u52a0\u6301\u4e45\u3002<\/strong><\/p>\n<p>\u5229\u6da6\u60ac\u6b8a\u4e0e\u201c\u6298\u65e7\u5b9a\u65f6\u70b8\u5f39\u201d<\/p>\n<p>\u5728\u5f53\u524d\u7684AI\u8d44\u672c\u652f\u51fa\u70ed\u6f6e\u4e2d\uff0c\u5e02\u573a\u6700\u5173\u6ce8\u7684\u662f\u5229\u6da6\u7684\u6d41\u5411\u3002\u67e5\u8bfa\u65af\u654f\u9510\u5730\u6307\u51fa\u4e86\u4ea7\u4e1a\u94fe\u4e0a\u4e0b\u6e38\u5728\u8d22\u52a1\u62a5\u8868\u4e0a\u7684\u5de8\u5927\u9519\u4f4d\u3002<\/p>\n<p><strong>\u67e5\u8bfa\u65af\u8b66\u544a\u79f0\uff1a<\/strong><\/p>\n<p>\u73b0\u5728\u7684\u5229\u6da6\u4f1a\u8ba1\u6838\u7b97\u5b58\u5728\u8131\u8282\uff1a\u90a3\u4e9b\u5356\u2018\u9550\u548c\u94c1\u9539\u2019\u7684\u516c\u53f8\uff08\u82af\u7247\u3001\u6570\u636e\u4e2d\u5fc3\u8bbe\u5907\u5546\uff09\u6b63\u5728\u7acb\u5373\u786e\u8ba4\u6536\u5165\u548c\u5229\u6da6\uff1b\u800c\u90a3\u4e9b\u82b1\u6389\u8fd9\u4e9b\u5de8\u8d44\u7684\u8d85\u7ea7\u4e91\u5382\u5546\u5374\u5728\u5c06\u8fd9\u4e9b\u6210\u672c\u8d44\u672c\u5316\u3002<\/p>\n<p>\u4ed6\u56de\u987e\u4e861998\u5e74\u81f32000\u5e74\u7684\u4e92\u8054\u7f51\u6ce1\u6cab\u65f6\u671f\uff0c\u5f53\u65f6\u6807\u666e500\u7684\u8425\u4e1a\u5229\u6da6\u5728\u4e24\u5e74\u5185\u589e\u957f\u4e8630%\uff0c\u4f46\u5f53\u8ba2\u5355\u7c3f\u57282001\u5e74\u5d29\u6e83\u800c\u6298\u65e7\u6210\u672c\u7ee7\u7eed\u663e\u73b0\u65f6\uff0c\u6807\u666e500\u7684\u5229\u6da6\u66b4\u8dcc\u4e8640%\u3002<\/p>\n<p>\u4e3a\u4e86\u4fdd\u5b88\u8d77\u89c1\uff0c\u67e5\u8bfa\u65af\u5728\u5efa\u7acb\u6a21\u578b\u65f6\u5047\u8bbeGPU\u7684\u7269\u7406\u5bff\u547d\u4e3a10\u5e74\uff0c\u4f46\u4ed6\u4f9d\u7136\u5bf9\u4e0b\u6e38\u7684\u76c8\u5229\u80fd\u529b\u8868\u793a\u6000\u7591\u3002\u67e5\u8bfa\u65af\u8bf4\uff1a<\/p>\n<p>\u4f60\u8981\u5c0f\u5fc3\uff0c\u4e70\u82af\u7247\u3001\u5efa\u6570\u636e\u4e2d\u5fc3\u7684\u6210\u672c\u76ee\u524d\u90fd\u8bb0\u5728\u2018\u5728\u5efa\u5de5\u7a0b\u2019\u91cc\uff0c\u4e00\u65e6\u5b83\u4eec\u4e0a\u7ebf\u5e76\u5f00\u59cb\u6298\u65e7\uff0c\u5bf9\u5229\u6da6\u7684\u51b2\u51fb\u662f\u5de8\u5927\u7684\u3002<\/p>\n<p>\u5bf9\u6b64\uff0c\u5179\u62c9\u7279\u592b\u8868\u793a\u5927\u4f53\u8ba4\u540c\uff0c\u4f46\u8865\u5145\u79f0GPU\u7684\u5b9e\u9645\u7ecf\u6d4e\u5bff\u547d\u96be\u4ee5\u7cbe\u786e\u754c\u5b9a\uff0c&quot;\u53ef\u80fd\u4e0d\u662f10\u5e74\uff0c\u53ef\u80fd\u662f6\u5e74\uff0c\u4f46\u7edd\u5bf9\u4e0d\u662f2\u5e74&quot;\u3002<\/p>\n<p><strong>\u7b97\u529b\u79df\u8d41\u5c5e\u4e8e\u79d1\u6280\u516c\u53f8\u8fd8\u662f\u91d1\u878d\u4e2d\u4ecb\uff1f<\/strong><\/p>\n<p>\u5bf9\u4e8e\u76ee\u524d\u706b\u70ed\u7684\u65b0\u5174\u4e91\u670d\u52a1\u5546\uff08\u5982CoreWeave\u7b49\u7b97\u529b\u79df\u8d41\u5e73\u53f0\uff09\uff0c\u67e5\u8bfa\u65af\u7ed9\u51fa\u4e86\u6781\u5ea6\u60b2\u89c2\u7684\u8bc4\u4ef7\uff0c\u8ba4\u4e3a\u8fd9\u5728\u672c\u8d28\u4e0a\u662f\u65e0\u5229\u53ef\u56fe\u7684\u5546\u4e1a\u6a21\u5f0f\u3002<\/p>\n<p>\u67e5\u8bfa\u65af\u76f4\u8a00\uff1a<\/p>\n<p>\u5982\u679c\u4f60\u4ece\u82f1\u4f1f\u8fbe\u4e70\u82af\u7247\uff0c\u79df\u522b\u4eba\u7684\u6570\u636e\u4e2d\u5fc3\uff0c\u518d\u628a\u7b97\u529b\u8f6c\u79df\u7ed9<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%be%ae%e8%bd%af\" title=\"View all posts in \u5fae\u8f6f\" target=\"_blank\" class=\"tag_link\">\u5fae\u8f6f<\/a>\u6216\u8c37\u6b4c\uff0c\u4f60\u5c31\u662f\u4e00\u4e2a\u8bbe\u5907\u79df\u8d41\u516c\u53f8\uff0c\u4f60\u4e0d\u662f\u79d1\u6280\u516c\u53f8\uff0c\u800c\u662f\u4e00\u5bb6\u91d1\u878d\u516c\u53f8\u3002<\/p>\n<p>\u67e5\u8bfa\u65af\u8fdb\u4e00\u6b65\u8868\u793a\uff1a<\/p>\n<p><strong>\u4f60\u5e94\u8be5\u505a\u591a\u82af\u7247\u6240\u751f\u4ea7\u7684\u4e1c\u897f\uff0c\u800c\u4e0d\u662f\u82af\u7247\u6240\u5728\u7684\u5730\u65b9\u3002<\/strong><\/p>\n<p>\u4ed6\u900f\u9732\u4e86\u76ee\u524d\u7b97\u529b\u57fa\u5efa\u7684\u771f\u5b9e\u6295\u8d44\u56de\u62a5\u7387\uff08ROIC\uff09\uff1a<\/p>\n<p>\u76ee\u524d\u7684\u4ea4\u6613\u7ec6\u8282\u663e\u793a\uff0c\u5982\u679c\u4f60\u73b0\u5728\u6709\u4f9b\u7535\u7684\u6570\u636e\u4e2d\u5fc3\u548c\u82af\u7247\uff0c<strong>\u9884\u671f\u7684\u7a0e\u524dROIC\u53ea\u67095%\u30016%\u30017%\u30018%\uff0c\u5168\u662f\u4e2a\u4f4d\u6570\u3002\u5982\u679c\u73b0\u5728\uff08\u7f3a\u8d27\u65f6\uff09\u90fd\u53ea\u80fd\u505a\u5230\u8fd9\u6837\uff0c\u6211\u5b81\u613f\u6301\u6709\u4ea7\u4e1a\u94fe\u7684\u5176\u4ed6\u73af\u8282\u3002<\/strong><\/p>\n<p>Zlatev\u5bf9\u6b64\u90e8\u5206\u8ba4\u540c\uff0c\u4f46<strong>\u63d0\u793a\u5404\u5bb6\u65b0\u5174\u4e91\u670d\u52a1\u5546\u5e76\u4e0d\u5b8c\u5168\u76f8\u540c\u3002<\/strong><\/p>\n<p>\u4ed6\u4e3e\u4f8b\u6307\u51fa\uff0c\u90e8\u5206\u516c\u53f8\u5982Lambda Labs\u7ea6\u670940%\u81f350%\u7684\u6536\u5165\u6765\u81ea\u5373\u65f6\u63a8\u7406\u573a\u666f\u7684\u73b0\u8d27\u5b9a\u4ef7\uff0c\u8fd9\u4f7f\u5176\u5728\u5f53\u524dGPU\u73b0\u8d27\u4ef7\u683c\u98d9\u5347\u7684\u73af\u5883\u4e0b\uff0c\u5177\u5907\u4e00\u5b9a\u7684\u7075\u6d3b\u83b7\u5229\u7a7a\u95f4\u3002<\/p>\n<p>\u4e24\u4eba\u5747\u540c\u610f\uff0c\u771f\u6b63\u7684\u4ef7\u503c\u4e0d\u5728\u4e8e\u63d0\u4f9b\u673a\u67b6\u4e0e\u7535\u529b\u7684\u7269\u7406\u8f7d\u4f53\uff0c\u800c\u662f\u5728\u82af\u7247\u53ca\u5176&quot;\u5305\u88f9\u5c42&quot;\uff08\u8f6f\u4ef6\u4e0e\u4f18\u5316\u5c42\uff09\u3002<\/p>\n<p>\u591a\u5934\u53cd\u9a73\uff1a\u771f\u5b9e\u7684\u9700\u6c42\u4e0e\u8fdc\u672a\u6ce1\u6cab\u7684\u4f30\u503c<\/p>\n<p>\u9488\u5bf9\u4e92\u8054\u7f51\u6ce1\u6cab\u7684\u6559\u8bad\u4e0e\u5f53\u4e0b\u7684\u5dee\u5f02\uff0c\u4e13\u6ce8\u786c\u79d1\u6280\u6295\u8d44\u7684\u5179\u62c9\u7279\u592b\u63d0\u51fa\u4e24\u70b9\u53cd\u9a73\u3002<\/p>\n<p><strong>\u9996\u5148\uff0c\u4ed6\u8ba4\u4e3a\u5f53\u524d\u7684AI\u9700\u6c42\u53ef\u4ee5\u901a\u8fc7\u5e95\u5c42\u7684\u8bcd\u5143\u4f7f\u7528\u91cf\u6765\u5b9e\u65f6\u8ffd\u8e2a\uff0c\u8fd9\u4e0e1999\u5e74\u4ec5\u9760CFO\u4eec\u5728\u8d22\u62a5\u4f1a\u4e0a\u201c\u753b\u5927\u997c\u201d\u5b8c\u5168\u4e0d\u540c\u3002<\/strong><\/p>\n<p>\u5179\u62c9\u7279\u592b\u6307\u51fa\uff0cAI\u57fa\u7840\u8bbe\u65bd\u7684\u7d27\u7f3a\u662f\u6781\u5176\u771f\u5b9e\u7684\uff1a<\/p>\n<p>\u5c31\u5728\u6211\u4eec\u8bf4\u8bdd\u7684\u65f6\u5019\uff0c\u8fd9\u4e9b\u82af\u7247\u4f9d\u7136\u975e\u5e38\u7d27\u7f3a\uff0c\u751a\u81f3\u90a3\u4e9b6\u30017\u30018\u5e74\u8001\u65e7GPU\u7684\u79df\u91d1\u90fd\u5728\u4e0a\u6da8\u3002\u7531\u4e8eToken\u4f7f\u7528\u91cf\u7684\u7206\u53d1\uff0c\u81ea\u4eca\u5e741\u6708\u4ee5\u6765\uff0c\u7b97\u529b\u73b0\u8d27\u4ef7\u683c\u4e0a\u6da8\u4e8640%\u523050%\u3002<\/p>\n<p><strong>\u5176\u4e8c\uff0cAI\u5bf9\u6a21\u578b\u80fd\u529b\u7684\u6539\u8fdb\u786e\u5b9e\u5e26\u6765\u4e86\u771f\u5b9e\u7684\u751f\u4ea7\u7387\u6548\u76ca<\/strong>\uff0c\u4f01\u4e1a\u7528\u5de5\u4eba\u6570\u505c\u6ede\u751a\u81f3\u4e0b\u964d\uff0c\u800c\u8425\u4e1a\u5229\u6da6\u7387\u5374\u663e\u8457\u63d0\u5347\uff0c\u8fd9\u662f\u5728\u8d85\u8fc7500\u5bb6\u786c\u79d1\u6280\u516c\u53f8\u6837\u672c\u4e2d\u5df2\u7ecf\u53ef\u4ee5\u89c2\u5bdf\u5230\u7684\u5b9e\u9645\u60c5\u51b5\u3002<\/p>\n<p>\u5173\u4e8e\u5e02\u573a\u6700\u62c5\u5fe7\u7684\u4f30\u503c\u6ce1\u6cab\uff0c\u5179\u62c9\u7279\u592b\u629b\u51fa\u4e86\u6838\u5fc3\u6570\u636e\uff1a<\/p>\n<p>\u8fd9\u4e0d\u662f1999\u5e74\u601d\u79d1\u4ee5160\u500d\u5e02\u76c8\u7387\u4ea4\u6613\u7684\u65f6\u4ee3\u3002\u76ee\u524d\u82f1\u4f1f\u8fbe\u7684\u4ea4\u6613\u4ef7\u683c\u5927\u7ea6\u662f\u51762027\u5e74\u9884\u671f\u6bcf\u80a1\u6536\u76ca\u768415\u500d\uff0c\u535a\u901a\u5728\u8fd1\u671f\u56de\u8c03\u540e\u662f2028\u5e74\u9884\u671f\u6536\u76ca\u768412\u500d\u3002\u6574\u4e2a\u677f\u5757\u5e76\u6ca1\u6709\u8d70\u5411\u6781\u7aef\u7684\u6ce1\u6cab\u3002<\/p>\n<p>\u4ed6\u540c\u65f6\u627f\u8ba4\uff0cAI\u7684&quot;\u7f29\u653e\u5b9a\u5f8b&quot;\uff08Scaling 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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>\u76841\u592a\u74e6\uff08Terawatt\uff09\u661f\u8fb0\u5927\u6d77<\/p>\n<p>\u5bf9\u8bdd\u7684\u6700\u9ad8\u6f6e\u56f4\u7ed5\u9a6c\u65af\u514b\u53caSpaceX\u5c06\u6570\u636e\u4e2d\u5fc3\u642c\u4e0a\u592a\u7a7a\u7684\u8bbe\u60f3\u5c55\u5f00\u3002<\/p>\n<p>\u67e5\u8bfa\u65af\u4ece\u5546\u4e1a\u903b\u8f91\u4e0a\u5c06\u5176\u62c6\u89e3\uff1a<\/p>\n<p>\u592a\u7a7a\u4e2d\u6700\u5927\u7684\u6210\u672c\u662f\u6297\u8f90\u5c04\u548c\u6563\u70ed\u3002\u800c\u4e14\u6570\u636e\u4e2d\u5fc3\u8bbe\u5907\u7ecf\u5e38\u574f\uff0c\u5728\u5730\u7403\u4e0a\u4f60\u6d3e\u4e2a\u6280\u672f\u5458\u53bb\u6362\u96f6\u4ef6\u5c31\u884c\uff0c\u5728\u592a\u7a7a\u4f60\u5f97\u53d1\u4e00\u679a\u706b\u7bad\u3002<strong>\u592a\u7a7a\u7684\u603b\u4f53\u6f5c\u5728\u5e02\u573a\uff08TAM\uff09\u662f\u65e0\u9650\u7684\uff0c\u4f46\u592a\u7a7a\u7684\u65e0\u9650\u71b5\uff08\u968f\u673a\u6027<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%a3%8e%e9%99%a9\" title=\"View all posts in \u98ce\u9669\" target=\"_blank\" class=\"tag_link\">\u98ce\u9669<\/a>\uff09\u4e5f\u662f\u65e0\u9650\u7684\u3002<\/strong><\/p>\n<p>\u4ed6\u5f3a\u8c03\uff0c\u76ee\u524dSpaceX\u7684\u53d1\u5c04\u4e1a\u52a1\u4ecd\u5904\u4e8e\u4e8f\u635f\u72b6\u6001\u3002<\/p>\n<p>\u7136\u800c\uff0c\u5179\u62c9\u7279\u592b\u4ece\u6280\u672f\u53d1\u5c55\u7684\u5e95\u5c42\u903b\u8f91\u539f\u7406\u89e3\u91ca\u4e86\u9a6c\u65af\u514b\u770b\u4f3c\u75af\u72c2\u7684\u4e3e\u52a8\uff1a<\/p>\n<p>\u9a6c\u65af\u514b\u8ba4\u4e3a\u672a\u6765\u51e0\u5e74\u4e16\u754c\u9700\u89811\u592a\u74e6\uff081,000\u5343\u5146\u74e6\uff09\u7684\u7b97\u529b\uff0c\u800c\u76ee\u524d\u79d1\u6280\u5de8\u5934\u9ad8\u8fbe7500\u4ebf\u7f8e\u5143\u7684\u8d44\u672c\u652f\u51fa\uff0c\u4ec5\u4ec5\u8f6c\u5316\u4e3a\u4e86\u5927\u7ea615\u5343\u5146\u74e6\u7684\u7b97\u529b\u3002\u4ed6\u4e4b\u6240\u4ee5\u8fd9\u4e48\u8bf4\uff0c\u662f\u56e0\u4e3a\u4ed6\u6ca1\u6709\u770b\u5230AI\u5e95\u5c42\u2018\u7f29\u653e\u5b9a\u5f8b\uff08Scaling Laws\uff09\u2019\u7684\u6253\u7834\u3002\u53ea\u8981\u96c6\u7fa4\u8d8a\u5927\u3001\u6a21\u578b\u8d8a\u806a\u660e\uff0c\u5bf9\u7b97\u529b\u7684\u9700\u6c42\u5c31\u662f\u6307\u6570\u7ea7\u7684\u3002<\/p>\n<p><strong>\u8bbf\u8c08\u5bf9\u8bdd\u5168\u6587\uff08AI\u8f85\u52a9\u7ffb\u8bd1\uff09\uff1a<\/strong><\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u5982\u4f55\u5728AI\u7e41\u8363\u4e2d\u5bfb\u627e\u6295\u8d44\u4ef7\u503c\u2014\u2014\u65e0\u8bba\u662f\u505a\u591a\u8fd8\u662f<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%81%9a%e7%a9%ba\" title=\"View all posts in \u505a\u7a7a\" target=\"_blank\" class=\"tag_link\">\u505a\u7a7a<\/a>\uff1f\u8fd9\u6b63\u662f\u672c\u6708\u521d\u6211\u6709\u5e78\u4e3b\u6301\u8282\u76ee\u65f6\uff0c\u5411\u4e24\u4f4d\u4f18\u79c0\u6295\u8d44\u4eba\u63d0\u51fa\u7684\u95ee\u9898\u3002\u4ed6\u4eec\u5206\u522b\u662fJim Chanos\u548cVal Zlatev\u3002<\/p>\n<p>Jim\u662f\u4f20\u5947\u7a7a\u5934\u6295\u8d44\u4eba\uff0c\u4ee5\u505a\u7a7aWirecard\u4ee5\u53ca\u5b89\u7136\u516c\u53f8\u800c\u58f0\u540d\u5353\u8457\u3002Val\u5219\u7ba1\u7406\u7740\u4e00\u652f\u89c4\u6a21\u6570\u5341\u4ebf\u7f8e\u5143\u7684\u5bf9\u51b2\u57fa\u91d1\uff0c\u5728\u534a\u5bfc\u4f53\u548c\u79d1\u6280\u786c\u4ef6\u9886\u57df\u7684\u591a\u7a7a\u6295\u8d44\u4e2d\u62e5\u6709\u51fa\u8272\u7684\u8d85\u989d\u6536\u76ca\u8bb0\u5f55\u3002<\/p>\n<p>\u672c\u6b21\u5bf9\u8bdd\u53d1\u751f\u5728\u6211\u4e3aMacro Minds Symposium\u4e3b\u6301\u7684\u4e00\u573a\u5706\u684c\u8ba8\u8bba\u4e0a\u3002\u8fd9\u662f\u4e00\u573a\u9762\u5411\u673a\u6784\u6295\u8d44\u8005\u3001\u4ee5\u652f\u6301\u5b66\u751f\u6559\u80b2\u4e3a\u4f7f\u547d\u7684\u516c\u76ca\u6027\u4f1a\u8bae\u3002\u4eca\u5e74\u7684\u7814\u8ba8\u4f1a\u4e3a\u4e09\u5bb6\u53d7\u76ca\u65b9\u7b79\u96c6\u8d44\u91d1\uff0c\u5206\u522b\u662f\uff1aNYC First\u3001Opportunity Music Project\u548c100 Women in Finance\u3002\u5176\u4ed6\u5706\u684c\u5609\u5bbe\u5305\u62ec\u4e1a\u754c\u91cd\u91cf\u7ea7\u4eba\u7269\uff0c\u5982\u963f\u6ce2\u7f57\u7684John Zito\u548c\u8d1d\u83b1\u5fb7\u7684Rick Rieder\u3002<\/p>\n<p>\u6211\u7531\u8877\u611f\u8c22Macro Minds\u53ca\u5176\u521b\u59cb\u4ebaDean Kernutt\u9080\u8bf7\u6211\u53c2\u4e0e\u5176\u4e2d\u3002\u66f4\u591a\u76f8\u5173\u4fe1\u606f\u5c06\u9644\u5728\u7b80\u4ecb\u4e2d\uff0c\u91c7\u8bbf\u7ed3\u5c3e\u5904\u6211\u4e5f\u4f1a\u5206\u4eab\u4e00\u4e9b\u603b\u7ed3\u6027\u770b\u6cd5\u3002\u73b0\u5728\uff0c\u8ba9\u6211\u4eec\u6b63\u5f0f\u5f00\u59cb\u3002<\/p>\n<p><strong>\u4e3b\u6301\u4eba\u4ecb\u7ecd\uff1a<\/strong><\/p>\n<p>\u6709\u8bf7Jim Chanos\u3001Val Zlatev\u548cJack Farley\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u611f\u8c22\u5404\u4f4d\u7684\u5230\u6765\u3002\u4eca\u5929\u6211\u4eec\u5c06\u56f4\u7ed5AI\u4e0e\u534a\u5bfc\u4f53\u6295\u8d44\u5c55\u5f00\u4e00\u573a\u7cbe\u5f69\u5bf9\u8bdd\uff0c\u6db5\u76d6\u505a\u591a\u4e0e\u505a\u7a7a\u4e24\u4e2a\u7ef4\u5ea6\u3002\u5609\u5bbe\u5206\u522b\u662f\u6765\u81eaChanos &amp; Company\u7684Jim Chanos\uff0c\u4ee5\u53ca\u6765\u81eaAnalog Century Capital Management\u7684Val Zlatev\u3002\u6211\u60f3\u5148\u8bf7\u4e24\u4f4d\u8c08\u8c08\u5bf9<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>\u53ca\u5176\u914d\u5957\u57fa\u7840\u8bbe\u65bd\u5efa\u8bbe\u7684\u6574\u4f53\u770b\u6cd5\u3002Jim\uff0c\u5148\u4ece\u4f60\u5f00\u59cb\uff0c\u7136\u540e\u662fVal\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u6b63\u5982Rick Rieder\u5728\u4e0a\u4e00\u573a\u8ba8\u8bba\u4e2d\u6240\u8bf4\uff0cAI\u76ee\u524d\u4e3b\u5bfc\u7740\u6574\u4e2a\u91d1\u878d\u5e02\u573a\u7684\u8d70\u5411\uff0c\u5728\u80a1\u7968\u5e02\u573a\u5c24\u4e3a\u7a81\u51fa\uff0c\u4fe1\u8d37\u5e02\u573a\u7684\u5f71\u54cd\u4e5f\u4e0e\u65e5\u4ff1\u589e\uff0c\u8fd9\u662f\u4e00\u4e2a\u975e\u5e38\u72ec\u7279\u7684\u73b0\u8c61\u3002<\/p>\n<p>\u6211\u60f3\u4ece\u5b8f\u89c2\u89d2\u5ea6\u8865\u5145\u4e00\u70b9\uff1a\u6211\u8ba4\u4e3a\u4eba\u4eec\u5728\u5c06AI\u7684\u5f71\u54cd\u5916\u63a8\u81f3\u5168\u7403\u7ecf\u6d4e\u589e\u957f\u548c\u4f01\u4e1a\u76c8\u5229\u589e\u957f\u65f6\uff0c\u9700\u8981\u4fdd\u6301\u4e00\u5b9a\u7684\u8c28\u614e\u3002\u6211\u4eec\u56de\u987e\u4e86Netscape\u95ee\u4e16\u524d\u540e\u5404\u5341\u5e74\u7684\u6570\u636e\u2014\u2014\u4e5f\u5c31\u662f1985\u5e74\u81f31995\u5e74\uff0c\u4ee5\u53ca1996\u5e74\u81f32006\u5e74\u8fd9\u4e24\u4e2a\u533a\u95f4\uff0c\u540e\u8005\u523b\u610f\u6392\u9664\u4e86\u5168\u7403<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%87%91%e8%9e%8d%e5%8d%b1%e6%9c%ba\" title=\"View all posts in \u91d1\u878d\u5371\u673a\" target=\"_blank\" class=\"tag_link\">\u91d1\u878d\u5371\u673a<\/a>\u7684\u5f71\u54cd\u3002\u7ed3\u679c\u53d1\u73b0\uff0c\u4e92\u8054\u7f51\u8bde\u751f\u524d\u540e\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%be%8e%e5%9b%bd\" title=\"View all posts in \u7f8e\u56fd\" target=\"_blank\" class=\"tag_link\">\u7f8e\u56fd<\/a>\u7ecf\u6d4e\u589e\u901f\u51e0\u4e4e\u6ca1\u6709\u4efb\u4f55\u5dee\u5f02\u3002<\/p>\n<p>\u66f4\u8010\u4eba\u5bfb\u5473\u7684\u662f\uff0c\u4f01\u4e1a\u76c8\u5229\u589e\u901f\u540c\u6837\u6ca1\u6709\u56e0\u751f\u4ea7\u7387\u63d0\u5347\u800c\u663e\u8457\u63d0\u9ad8\u3002\u4e92\u8054\u7f51\u524d\u540e\u4e24\u4e2a\u5341\u5e74\u7684\u4f01\u4e1a\u76c8\u5229\u5e74\u5747\u589e\u901f\u5747\u4e3a6%\uff0c\u4e0e\u957f\u671f\u5386\u53f2\u5747\u503c\u4e00\u81f4\u3002\u5f53\u7136\uff0c\u5176\u4e2d\u4e0d\u4e4f\u7ed3\u6784\u6027\u7684\u6b64\u6d88\u5f7c\u957f\u3002\u8fd9\u5176\u5b9e\u662f\u5728\u8bf4\u660e\uff1aAI\u7ecf\u6d4e\u4e2d\u540c\u6837\u4f1a\u51fa\u73b0\u5927\u91cf\u7ed3\u6784\u6027\u53d8\u5316\u548c\u8d62\u5bb6\u8f93\u5bb6\u7684\u5206\u5316\uff0c\u4f46\u5b83\u7a76\u7adf\u80fd\u5426\u63d0\u632f\u6574\u4f53\u7ecf\u6d4e\u589e\u901f\u3001\u5e26\u52a8\u4f01\u4e1a\u76c8\u5229\u7684\u957f\u671f\u589e\u957f\uff0c\u76ee\u524d\u4ecd\u662f\u672a\u77e5\u6570\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u6211\u4e0d\u662f\u5b8f\u89c2\u6295\u8d44\u8005\uff0c\u4e5f\u4e0d\u6253\u7b97\u5c31AI\u5bf9\u6574\u4f53\u7ecf\u6d4e\u7684\u5f71\u54cd\u4e0eJim\u4e89\u8bba\u3002\u4f46\u4ece\u5fae\u89c2\u89c6\u89d2\u6765\u770b\uff0c\u5f53\u6211\u4eec\u4e0e\u6240\u6295\u8d44\u516c\u53f8\u4ea4\u6d41\u2014\u2014\u65e0\u8bba\u662f\u591a\u5934\u8fd8\u662f\u7a7a\u5934\u6807\u7684\u2014\u2014\u6211\u4eec\u53d1\u73b0AI\u5bf9\u4f01\u4e1a\u4e2a\u4f53\u7684\u5b9e\u9645\u5f71\u54cd\u5df2\u7ecf\u76f8\u5f53\u6e05\u6670\uff0c\u8bb8\u591a\u88ab\u6211\u4eec\u8986\u76d6\u7684\u4f01\u4e1aCEO\u5bf9\u73b0\u9636\u6bb5\u7684\u5f71\u54cd\u9887\u4e3a\u632f\u594b\u3002<\/p>\n<p>\u5176\u5b9e\u6709\u4e00\u4e2a\u5f88\u7b80\u5355\u7684\u9a8c\u8bc1\u65b9\u5f0f\uff1a\u5bf9\u6bd4\u8fc7\u53bb\u4e09\u56db\u5e74\u95f4\u8fd9\u4e9b\u4f01\u4e1a\u7684\u5458\u5de5\u6570\u91cf\u4e0e\u8425\u4e1a\u5229\u6da6\u3002\u4f60\u4f1a\u53d1\u73b0\uff0c\u5458\u5de5\u6570\u51e0\u4e4e\u6ca1\u6709\u589e\u52a0\uff0c\u90e8\u5206\u751a\u81f3\u5728\u4e0b\u964d\uff0c\u800c\u8425\u4e1a\u5229\u6da6\u5374\u5927\u5e45\u6500\u5347\u3002\u6211\u8bf4\u7684\u8fd8\u4e0d\u4ec5\u4ec5\u662f\u90a3\u4e9b\u9760\u6da8\u4ef7\u83b7\u76ca\u7684\u5b58\u50a8\u5668\u516c\u53f8\uff0c\u800c\u662f\u8986\u76d6500\u4f59\u5bb6\u79d1\u6280\u786c\u4ef6\u516c\u53f8\u7684\u6574\u4e2a\u7814\u7a76\u9886\u57df\u3002\u6362\u53e5\u8bdd\u8bf4\uff0cAI\u7684\u5b9e\u9645\u5f71\u54cd\u5df2\u7ecf\u5207\u5b9e\u53d1\u751f\uff0c\u5e76\u4e14\u76f8\u5f53\u663e\u8457\u3002<\/p>\n<p>\u81f3\u4e8e\u8fd9\u79cd\u5f71\u54cd\u80fd\u5426\u4ece\u79d1\u6280\u5708\u5185\u90e8\u7684\u65e9\u671f\u91c7\u7528\u8005\uff0c\u6269\u6563\u81f3\u66f4\u5e7f\u6cdb\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%ae%9e%e4%bd%93%e7%bb%8f%e6%b5%8e\" title=\"View all posts in \u5b9e\u4f53\u7ecf\u6d4e\" target=\"_blank\" class=\"tag_link\">\u5b9e\u4f53\u7ecf\u6d4e<\/a>\uff0c\u76ee\u524d\u8fd8\u6709\u5f85\u89c2\u5bdf\u3002\u5728\u5c55\u671b\u672a\u6765\u65f6\uff0c\u6211\u540c\u610fJim\u7684\u5224\u65ad\uff1a\u8fd9\u4e00\u8fc7\u7a0b\u4e2d\u5c06\u5145\u6ee1\u4e89\u8bae\u3001\u5145\u6ee1\u8d77\u4f0f\u3002\u4e8b\u5b9e\u4e0a\uff0c\u8fd9\u5e76\u4e0d\u662f\u4e00\u8fb9\u5012\u7684\u5171\u8bc6\u2014\u2014\u4e0aTwitter\u3001\u542c\u64ad\u5ba2\u3001\u770b\u5404\u7c7bAI\u8bba\u575b\uff0c\u4f60\u4f1a\u770b\u5230\u5927\u91cf\u7684\u7a7a\u5934\u58f0\u97f3\uff0c\u4e0e\u591a\u5934\u51e0\u4e4e\u52bf\u5747\u529b\u654c\u3002\u8fd9\u79cd\u5206\u6b67\u5c40\u9762\uff0c\u6211\u8ba4\u4e3a\u975e\u5e38\u5065\u5eb7\u3002\u6211\u559c\u6b22AI\u9886\u57df\u5b58\u5728\u5927\u91cf\u7a7a\u5934\uff0c\u56e0\u4e3a\u8fd9\u4fc3\u4f7f\u4eba\u4eec\u505c\u4e0b\u6765\uff0c\u601d\u8003\u3001\u6743\u8861\uff0c\u800c\u4e0d\u662f\u50cf90\u5e74\u4ee3\u90a3\u6837\u4e00\u54c4\u800c\u4e0a\u3001\u76f2\u76ee\u4e50\u89c2\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5982\u679c\u4f60\u771f\u7684\u60f3\u88ab\u5413\u5230\uff0c\u6211\u544a\u8bc9\u4f60\uff1a\u76f8\u5bf9\u4e8e\u6211\u7684\u7a7a\u5934\u4ed3\u4f4d\uff0c\u6211\u76ee\u524d\u662fAI\u51c0\u591a\u5934\u2014\u2014\u5404\u4f4d\u662f\u4e0d\u662f\u88ab\u5413\u5230\u4e86\uff1f<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>Jim\uff0c\u4f60\u662f\u901a\u8fc7\u6307\u6570\u6301\u6709\u51c0\u591a\u5934\u4ed3\u4f4d\u7684\u3002\u90a3\u4f60\u76ee\u524d\u5728\u505a\u7a7a\u4ec0\u4e48\uff1f\u4f60\u663e\u7136\u6ca1\u6709\u5728\u89c4\u6a21\u4e0a\u505a\u7a7a\u534a\u5bfc\u4f53\u3002\u4f60\u7a7a\u7684\u662f\u4ec0\u4e48\uff1f<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5728\u56de\u7b54\u8fd9\u4e2a\u95ee\u9898\u4e4b\u524d\uff0c\u6211\u60f3\u5148\u505a\u4e00\u4e2a\u94fa\u57ab\u3002\u5728\u5f53\u524d\u8fd9\u6ce2<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%ab%98%e7%a7%91%e6%8a%80\" title=\"View all posts in \u9ad8\u79d1\u6280\" target=\"_blank\" class=\"tag_link\">\u9ad8\u79d1\u6280<\/a>\u8d44\u672c\u5f00\u652f\u70ed\u6f6e\u4e2d\u2014\u2014\u591a\u7a7a\u53cc\u65b9\u90fd\u627f\u8ba4\u8fd9\u662f\u4e00\u8f6e\u8d44\u672c\u5f00\u652f\u7e41\u8363\u2014\u2014\u5b58\u5728\u4e00\u4e2a\u76c8\u5229\u6838\u7b97\u4e0a\u7684\u9519\u4f4d\uff0c\u800c\u8fd9\u572890\u5e74\u4ee3\u672b\u6211\u4eec\u4e5f\u66fe\u89c1\u8fc7\u7c7b\u4f3c\u7684\u60c5\u5f62\u3002<\/p>\n<p>\u5177\u4f53\u800c\u8a00\uff1a\u9500\u552e&quot;\u9550\u4e0e\u94f2&quot;\u7684\u516c\u53f8\u2014\u2014\u5728\u672c\u8f6e\u5468\u671f\u4e2d\u5c31\u662f\u82af\u7247\u3001\u6570\u636e\u4e2d\u5fc3\u8bbe\u5907\u53ca\u5efa\u8bbe\u516c\u53f8\u2014\u2014\u80fd\u591f\u7acb\u5373\u786e\u8ba4\u6536\u5165\u548c\u5229\u6da6\uff1b\u800c\u82b1\u8d39\u8fd9\u4e9b\u8d44\u91d1\u7684\u516c\u53f8\uff0c\u5305\u62ecNvidia\u3001ASML\u4ee5\u53ca\u5404\u7c7b\u627f\u5efa\u5546\u7b49\uff0c\u5219\u662f\u5728\u7acb\u5373\u786e\u8ba4\u8425\u6536\u548c\u5229\u6da6\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u90a3\u4e9b\u638f\u94b1\u7684\u8d85\u5927\u89c4\u6a21\u4e91\u8ba1\u7b97\u5546\uff08Hyperscalers\uff09\u7b49\u5374\u5c06\u8fd9\u4e9b\u652f\u51fa\u8d44\u672c\u5316\u5904\u7406\u3002<\/p>\n<p>\u8fd9\u4e00\u70b9\u5728\u7406\u89e3\u5f53\u524d\u9ad8\u79d1\u6280\u9886\u57df\u7684\u76c8\u5229\u7e41\u8363\u65f6\u81f3\u5173\u91cd\u8981\u3002\u6211\u4eec\u57281998\u5e74\u4e2d\u81f32000\u5e74\u4e2d\u5c31\u7ecf\u5386\u8fc7\u8fd9\u79cd\u60c5\u5f62\u3002\u90a3\u4e2a\u5468\u671f\u4e2d\uff0c\u6807\u666e500\u8fd0\u8425\u5229\u6da6\u5728\u77ed\u77ed\u4e24\u5e74\u5185\u589e\u957f\u4e86\u7ea630%\uff0c\u589e\u901f\u4e0e\u5f53\u524d\u76f8\u5f53\u751a\u81f3\u66f4\u9ad8\u3002\u4f46\u4ece2000\u5e74\u4e2d\u52302001\u5e74\uff0c\u77e5\u9053\u5b83\u4e0b\u8dcc\u4e86\u591a\u5c11\u5417\uff1f<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u8dcc\u5f97\u53c8\u5feb\u53c8\u731b\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u4e0b\u8dcc\u4e8640%\u3002\u8ba2\u5355\u5d29\u584c\uff0c\u6210\u672c\uff08\u5c24\u5176\u662f\u6298\u65e7\uff09\u6301\u7eed\u7d2f\u79ef\uff0c\u6807\u666e500\u76c8\u5229\u5728\u90a3\u4e00\u5e74\u2014\u2014\u4e00\u6b21\u6e29\u548c\u8870\u9000\u4e2d\u2014\u2014\u8dcc\u5e45\u4e0e\u5168\u7403\u91d1\u878d\u5371\u673a\u671f\u95f4\u76f8\u5f53\uff0c\u4e24\u6bb5\u65f6\u671f\u5747\u7ea6\u4e0b\u8dcc40%\u3002<\/p>\n<p>\u6240\u4ee5\u6211\u4eec\u5fc5\u987b\u5bf9\u6b64\u4fdd\u6301\u8b66\u60d5\u3002\u6211\u4eec\u76ee\u524d\u805a\u7126\u7684\uff0c\u662f\u90a3\u4e9b\u672c\u8d28\u4e0a\u5546\u4e1a\u6a21\u5f0f\u5b58\u5728\u7f3a\u9677\u3001\u4f9d\u9644\u4e8eAI\u751f\u6001\u7cfb\u7edf\u7684\u4f01\u4e1a\u2014\u2014\u5373\u4fbf\u5728\u6700\u4e50\u89c2\u7684\u5047\u8bbe\u4e0b\uff0c\u5176\u8d44\u672c\u56de\u62a5\u7387\u4e5f\u5c06\u5fae\u4e4e\u5176\u5fae\u3002\u6bd4\u5982<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%af%94%e7%89%b9%e5%b8%81\" title=\"View all posts in \u6bd4\u7279\u5e01\" target=\"_blank\" class=\"tag_link\">\u6bd4\u7279\u5e01<\/a>\u77ff\u5de5\u3001\u6fc0\u8fdb\u578b\u6570\u636e\u4e2d\u5fc3\u5f00\u53d1\u5546\u3001\u4ee5\u53ca\u6240\u8c13\u7684\u65b0\u5174\u4e91\u670d\u52a1\u5546\uff08Neo Clouds\uff09\u3002\u5373\u4fbf\u7ed9\u4e88GPU\u5341\u5e74\u4f7f\u7528\u5bff\u547d\u7684\u5047\u8bbe\uff0c\u5176\u8fdc\u671f\u8d44\u672c\u56de\u62a5\u7387\u4e5f\u4e0d\u8fc74%\u81f36%\u3002\u6211\u8ba4\u4e3a\u8fd9\u7c7b\u4f01\u4e1a\u7ec8\u5c06\u88ab\u5e02\u573a\u6dd8\u6c70\u3002<\/p>\n<p>\u6211\u7ecf\u5e38\u5bf9\u5ba2\u6237\u8bf4\uff1a\u4f60\u5e94\u8be5\u6301\u6709\u82af\u7247\u6240&quot;\u751f\u4ea7&quot;\u7684\u4e1c\u897f\uff0c\u800c\u4e0d\u662f\u82af\u7247\u6240&quot;\u5c45\u4f4f&quot;\u7684\u5730\u65b9\u2014\u2014\u6211\u8ba4\u4e3a\u8fd9\u4e2a\u6295\u8d44\u903b\u8f91\u5728\u672a\u6765\u4f9d\u7136\u6210\u7acb\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u6211\u4eec\u4e00\u4f1a\u513f\u518d\u6df1\u5165\u804a\u65b0\u5174\u4e91\u670d\u52a1\u5546\uff0c\u4f46\u5148\u8bf4\u8bf4\u6298\u65e7\u95ee\u9898\u3002\u6211\u4eec\u6b63\u5904\u4e8e\u4e00\u8f6e\u8d44\u672c\u5f00\u652f\u70ed\u6f6e\u4e2d\uff0c\u5927\u90e8\u5206\u8d2d\u4e70\u7684\u82af\u7247\u90fd\u88ab\u8d44\u672c\u5316\uff0c\u901a\u8fc7\u82e5\u5e72\u5e74\u7684\u6298\u65e7\u6765\u644a\u9500\uff0c\u65e0\u8bba\u662f\u56db\u5e74\u8fd8\u662f\u4e03\u5e74\u3002Jim\uff0c\u4f60\u7684\u610f\u601d\u662f\uff1a\u7531\u4e8e\u6298\u65e7\u5c1a\u672a\u5230\u6765\uff0c\u5f53\u524d\u76c8\u5229\u662f\u88ab\u865a\u589e\u7684\uff1f\u6298\u65e7\u4f55\u65f6\u4f1a\u771f\u6b63\u843d\u5730\uff0c\u53c8\u5c06\u5982\u4f55\u51b2\u51fb\u5229\u6da6\uff1f\u6211\u77e5\u9053Val\u4e5f\u6709\u5f88\u591a\u60f3\u6cd5\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5b58\u5728\u4e24\u4e2a\u95ee\u9898\u3002<\/p>\n<p>\u5176\u4e00\uff0c\u50cfAlphabet\u3001\u5fae\u8f6f\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%ba%9a%e9%a9%ac%e9%80%8a\" title=\"View all posts in \u4e9a\u9a6c\u900a\" target=\"_blank\" class=\"tag_link\">\u4e9a\u9a6c\u900a<\/a>\u3001\u7532\u9aa8\u6587\u8fd9\u4e9b\u82b1\u5927\u94b1\u7684\u516c\u53f8\uff0c\u5927\u91cf\u8d44\u672c\u652f\u51fa\u76ee\u524d\u4ee5&quot;\u5728\u5efa\u5de5\u7a0b&quot;\u7684\u5f62\u5f0f\u6302\u8d26\u3002\u82af\u7247\u91c7\u8d2d\u6210\u672c\u3001\u4eba\u5de5\u6210\u672c\u3001\u5229\u606f\u6210\u672c\uff0c\u7edf\u7edf\u88ab\u8d44\u672c\u5316\uff0c\u8981\u7b49\u5230\u6570\u636e\u4e2d\u5fc3\u6b63\u5f0f\u6295\u5165\u8fd0\u8425\u3001\u5f00\u59cb\u4ea7\u751f\u6536\u5165\uff0c\u624d\u4f1a\u5f00\u59cb\u644a\u9500\u3002\u6240\u4ee5\u629b\u5f00\u82af\u7247\u672c\u8eab\u7684\u4f7f\u7528\u5bff\u547d\u4e0d\u8c08\uff0c\u6570\u636e\u4e2d\u5fc3\u4ece\u7ae3\u5de5\u5230\u4ea7\u751f\u6536\u5165\u53ef\u80fd\u5b58\u572812\u81f318\u4e2a\u6708\u7684\u6ede\u540e\u671f\uff0c\u5728\u6b64\u671f\u95f4\u8fd9\u4e9b\u8d44\u4ea7\u65e2\u672a\u6298\u65e7\uff0c\u4e5f\u672a\u4ea7\u751f\u8425\u6536\u3002<\/p>\n<p>\u5176\u4e8c\uff0c\u5728\u6211\u4eec\u7684\u5efa\u6a21\u4e2d\uff0c\u4e3a\u4fdd\u5b88\u8d77\u89c1\uff0c\u6211\u4f7f\u7528\u7684\u662fGPU\u5341\u5e74\u4f7f\u7528\u5bff\u547d\u7684\u5047\u8bbe\u3002AI\u7a7a\u5934\u4eec\u5e38\u8bf4\u4e24\u5e74\u6216\u4e09\u5e74\uff0c\u4f46\u6211\u7528\u7684\u662f\u5341\u5e74\u2014\u2014\u8fd9\u57fa\u672c\u4e0a\u662f\u5168\u5929\u5019\u3001365\u5929\u4e0d\u95f4\u65ad\u8fd0\u884c\u4e0b\u7684\u7269\u7406\u6781\u9650\u3002\u6211\u8ba4\u4e3a\u8fd9\u662f\u4e00\u4e2a\u8f83\u4e3a\u7a33\u5065\u7684\u4f30\u7b97\u57fa\u51c6\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u5341\u5e74\u5176\u5b9e\u5df2\u7ecf\u76f8\u5f53\u6fc0\u8fdb\u4e86\u3002\u6211\u4e0d\u786e\u5b9a\u5341\u5e74\u540e\u8fd8\u6709\u591a\u5c11\u4eca\u5929\u7684GPU\u5728\u8fd0\u8f6c\u3002\u6240\u4ee5\u8fd9\u786e\u5b9e\u662f\u5f88\u4fdd\u5b88\u7684\u5047\u8bbe\u3002<\/p>\n<p>\u6211\u540c\u610fJim\u7684\u89c2\u70b9\uff0c\u771f\u6b63\u7684\u6295\u8d44\u673a\u4f1a\u5728\u4e8e\u82af\u7247\u672c\u8eab\uff0c\u4ee5\u53ca\u6570\u636e\u4e2d\u5fc3\u5185\u90e8\u7684\u670d\u52a1\uff0c\u800c\u4e0d\u662f&quot;\u623f\u4e1c&quot;\u89d2\u8272\u3002\u8fd9\u4e2a\u6bd4\u55bb\u5f88\u8d34\u5207\u3002<\/p>\n<p>\u5173\u4e8e\u6298\u65e7\uff0c\u6211\u4e0d\u6253\u7b97\u57286\u5e74\u8fd8\u662f10\u5e74\u4e0a\u505a\u592a\u591a\u7ea0\u7f20\uff0c\u80af\u5b9a\u4e0d\u662f\u4e24\u5e74\u3002<\/p>\n<p>\u4f46\u6709\u4e00\u4e2a\u73b0\u5b9e\u503c\u5f97\u5173\u6ce8\uff1a\u5f53\u524dGPU\u7684\u4f9b\u5e94\u6781\u4e3a\u7d27\u5f20\uff0c\u4ee5\u81f3\u4e8e\u90a3\u4e9b\u4f7f\u7528\u5df2\u6709\u516d\u4e03\u516b\u5e74\u4e4b\u4e45\u7684\u8001\u65e7GPU\uff0c\u79df\u8d41\u4ef7\u683c\u53cd\u800c\u5728\u4e0a\u6da8\u3002\u8fd9\u5728\u53bb\u5e7412\u6708\u4e4b\u524d\u5e76\u672a\u51fa\u73b0\u2014\u2014\u5f7c\u65f6GPU\u79df\u8d41\u4ef7\u683c\u540c\u6bd4\u4e0b\u8dcc20%\u81f330%\uff0c\u8fd9\u5b8c\u5168\u6b63\u5e38\u3002\u6bd5\u7adf\u6bcf\u5e74\u90fd\u6709\u65b0\u67b6\u6784\u3001\u66f4\u9ad8\u6548\u7684GPU\u63a8\u51fa\uff0c\u6bcf\u4e2atoken\u7684\u5904\u7406\u6210\u672c\u66f4\u4f4e\u3002\u4ece\u7ecf\u6d4e\u903b\u8f91\u4e0a\u8bb2\uff0c\u4efb\u4f55\u80fd\u83b7\u53d6\u65b0GPU\u7684\u4eba\u90fd\u6ca1\u6709\u7406\u7531\u7ee7\u7eed\u7528\u65e7\u673a\u5668\u3002\u7136\u800c\u73b0\u5b9e\u662f\uff0c\u81ea\u4eca\u5e741\u6708\u4ee5\u6765\u5e02\u573a\u4f9b\u5e94\u5982\u6b64\u7d27\u5f20\uff0cGPU\u79df\u8d41\u4ef7\u683c\u5df2\u4e0a\u6da840%\u81f350%\u751a\u81f3\u66f4\u9ad8\uff0c\u8fd9\u5728\u8fd1\u671f\u786e\u5b9e\u6539\u53d8\u4e86\u65b0\u5174\u4e91\u670d\u52a1\u5546\u7684\u5546\u4e1a\u7ecf\u6d4e\u6027\u3002\u81f3\u4e8e\u8fd9\u79cd\u5c40\u9762\u80fd\u5426\u6301\u7eed\uff0c\u6211\u65e0\u6cd5\u5224\u65ad\u3002\u6211\u53ea\u662f\u60f3\u5f3a\u8c03\uff0c\u8fd9\u662f\u4e00\u4e2a\u6781\u5176\u52a8\u6001\u7684\u5e02\u573a\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u8fd9\u6539\u53d8\u7684\u662f\u8fd1\u671f\u7684\u4f30\u503c\uff0c\u4f46\u6211\u4e0d\u786e\u5b9a\u4ed6\u4eec\u7684\u5408\u540c\u5b9a\u4ef7\u662f\u5426\u6709\u592a\u5927\u53d8\u5316\u3002\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u672c\u8eab\u5e76\u4e0d\u50bb\u3002\u8bb0\u4f4f\uff0c\u5728\u8fd9\u79cd\u5546\u4e1a\u6a21\u5f0f\u4e2d\uff0c\u65b0\u5174\u4e91\u670d\u52a1\u5546\u672c\u8d28\u4e0a\u662f\u8bbe\u5907\u79df\u8d41\u516c\u53f8\u2014\u2014\u4eceNvidia\u8d2d\u4e70\u82af\u7247\uff0c\u79df\u7528\u522b\u4eba\u7684\u6570\u636e\u4e2d\u5fc3\u7a7a\u95f4\uff0c\u518d\u5c06\u82af\u7247\u79df\u7ed9\u5fae\u8f6f\u3001\u8c37\u6b4c\u6216Meta\u3002\u8fd9\u4e0d\u662f\u9ad8\u79d1\u6280\u516c\u53f8\uff0c\u5b9e\u8d28\u4e0a\u662f\u4e00\u5bb6\u91d1\u878d\u516c\u53f8\uff0c\u8d4c\u7684\u662f\u82af\u7247\u4f7f\u7528\u5bff\u547d\u4ee5\u53ca\u5408\u540c\u671f\u5185\u7684\u79df\u8d41\u6536\u76ca\u3002<\/p>\n<p>\u987a\u4fbf\u4e00\u63d0\uff0c\u8fd9\u4e9b\u516c\u53f8\u7684\u521b\u59cb\u4eba\u5f88\u591a\u662f\u91d1\u878d\u80cc\u666f\u51fa\u8eab\u2014\u2014Core Weave\u7684\u6838\u5fc3\u4eba\u9a6c\u5c31\u662f\u91d1\u878d\u5371\u673a\u65f6\u671f\u7684\u8001Magnetar\u4eba\u3002\u800c\u4e14\uff0c\u5f53\u8d1d\u83b1\u5fb7\u65d7\u4e0b\u7684Blackstone\u4ee5REIT\u5f62\u5f0f\u8fdb\u5165\u8fd9\u4e2a\u884c\u4e1a\uff0c\u4f60\u5c31\u6e05\u695a\u5730\u77e5\u9053\uff1a\u8fd9\u672c\u8d28\u4e0a\u662f\u4e00\u95e8\u91d1\u878d\u751f\u610f\u3002<\/p>\n<p>\u8fd8\u6709\u4e00\u70b9\u5f88\u91cd\u8981\uff1a\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u5b8c\u5168\u53ef\u4ee5\u81ea\u884c\u8d2d\u4e70\u82af\u7247\uff0c\u4f46\u4ed6\u4eec\u9009\u62e9\u4ece\u65b0\u5174\u4e91\u670d\u52a1\u5546\u90a3\u91cc\u79df\u7528\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u4e3a\u4ec0\u4e48\u4f1a\u8fd9\u6837\uff1f\u6211\u6765\u89e3\u91ca\u4e00\u4e0b\u3002\u73b0\u5b9e\u60c5\u51b5\u662f\uff1a\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u672a\u5fc5\u80fd\u63d0\u524d\u5907\u8db3\u4ea7\u80fd\uff0c\u4e5f\u672a\u5fc5\u6709\u8db3\u591f\u7684\u91c7\u8d2d\u6e20\u9053\u3002Nvidia\u4e5f\u6709\u610f\u5728\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u548c\u65b0\u5174\u4e91\u670d\u52a1\u5546\u4e4b\u95f4\u4fdd\u6301\u5e73\u8861\uff0c\u4e0d\u5e0c\u671b\u5b8c\u5168\u4f9d\u8d56\u51e0\u5bb6\u5927\u5ba2\u6237\u3002\u56e0\u6b64\uff0cNvidia\u4e3b\u52a8\u5c06\u66f4\u591a\u4f9b\u5e94\u503e\u659c\u7ed9\u65b0\u5174\u4e91\u670d\u52a1\u5546\uff0c\u4ee5\u6b64\u5728\u5e02\u573a\u4e0a\u5236\u9020\u7ade\u4e89\uff0c\u907f\u514d\u81ea\u8eab\u5bf9\u5c11\u6570\u8d85\u5927\u5ba2\u6237\u5f62\u6210\u8fc7\u5ea6\u4f9d\u8d56\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u8bf4\u767d\u4e86\uff0c\u4ed6\u4eec\u4e0d\u60f3\u76f4\u63a5\u5356\u7ed9\u5fae\u8f6f\uff0c\u5b81\u53ef\u5356\u7ed9Core Weave\uff0c\u518d\u7531Core Weave\u8f6c\u79df\u51fa\u53bb\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>Jim\uff0c\u4f60\u600e\u4e48\u770b\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u9009\u62e9\u901a\u8fc7Core Weave\u8fd9\u7c7b\u4e2d\u95f4\u5546\u800c\u975e\u81ea\u884c\u91c7\u8d2d\u7684\u539f\u56e0\uff1f<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u4e24\u79cd\u65b9\u5f0f\u4ed6\u4eec\u90fd\u5728\u7528\uff0c\u8fd9\u4e00\u70b9\u6bcb\u5eb8\u7f6e\u7591\u3002\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u76f4\u63a5\u6295\u5165\u7684\u8d44\u91d1\u89c4\u6a21\u5df2\u7ecf\u76f8\u5f53\u5e9e\u5927\u3002\u4f46\u603b\u4f53\u800c\u8a00\uff0c\u8fd9\u662f\u4e00\u79cd&quot;\u6dd8\u91d1\u70ed&quot;\u5fc3\u6001\u2014\u2014\u8c01\u624b\u91cc\u6709\u4ea7\u80fd\uff0c\u8c01\u5c31\u80fd\u7b7e\u5355\u3002<\/p>\n<p>\u95ee\u9898\u5728\u4e8e\uff0cJack\uff0c\u5c31\u5f53\u524d\u8fd9\u79cd\u4f9b\u9700\u683c\u5c40\u6765\u770b\uff0c\u5982\u679c\u4f60\u6b64\u65f6\u6b64\u523b\u65e2\u6709\u6570\u636e\u4e2d\u5fc3\u4ea7\u80fd\u3001\u53c8\u6709\u82af\u7247<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%b5%84%e6%ba%90\" title=\"View all posts in \u8d44\u6e90\" target=\"_blank\" class=\"tag_link\">\u8d44\u6e90<\/a>\uff0c\u7406\u8bba\u4e0a\u5e94\u8be5\u83b7\u5f97\u6781\u9ad8\u7684\u8d44\u672c\u56de\u62a5\u7387\u3002\u7136\u800c\uff0c\u51e1\u662f\u80fd\u62ff\u5230\u5177\u4f53\u6761\u6b3e\u7684\u4ea4\u6613\uff0c\u8d44\u672c\u56de\u62a5\u7387\u666e\u904d\u57285%\u81f38%\uff0c\u5168\u90e8\u662f\u7a0e\u524d\u4e2a\u4f4d\u6570\u7684\u56de\u62a5\u3002<\/p>\n<p>\u8fd9\u5c31\u56de\u5230\u4e86\u6211\u7684\u6838\u5fc3\u89c2\u70b9\uff1a\u5982\u679c\u8fd9\u5df2\u7ecf\u662f\u5f53\u4e0b\u7684\u6700\u4f18\u89e3\uff0c\u6211\u5b81\u53ef\u6301\u6709\u4ef7\u503c\u94fe\u4e0a\u7684\u5176\u4ed6\u73af\u8282\uff0c\u800c\u4e0d\u662f\u8fd9\u4e2a\u4e2d\u95f4\u5546\u89d2\u8272\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u6211\u5b8c\u5168\u540c\u610f\u4f60\u8bf4\u7684\u3002\u4f60\u57fa\u672c\u4e0a\u662f\u628a\u4ed6\u4eec\u5f52\u7c7b\u4e3a\u7c7b\u4f3cREIT\u7684\u5b58\u5728\u2014\u2014\u6bd4\u5982Core Weave\u8fd9\u6837\u7684\u516c\u53f8\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u786e\u5b9e\u53ef\u4ee5\u8fd9\u4e48\u7406\u89e3\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u6211\u540c\u610f\uff0c\u8fd9\u4e2a\u9886\u57df\u7684\u771f\u6b63\u5dee\u5f02\u5316\u56e0\u7d20\u7ec8\u7a76\u662f\u6280\u672f\u3002\u771f\u6b63\u7684\u4ef7\u503c\u5728\u4e8e\u82af\u7247\u672c\u8eab\uff0c\u4ee5\u53ca\u56f4\u7ed5\u82af\u7247\u6784\u5efa\u7684\u8f6f\u4ef6\u548c\u4f18\u5316\u5c42\u3002\u4ec5\u4ec5\u662f\u4e70\u5730\u3001\u63a5\u5165\u7535\u7f51\u3001\u5b89\u88c5\u53d8\u538b\u5668\uff0c\u8fd9\u4e9b\u5e76\u6ca1\u6709\u592a\u591a\u6280\u672f\u542b\u91cf\u3002\u8fd9\u7c7b\u62a4\u57ce\u6cb3\u6216\u8bb8\u80fd\u6491\u4e2a\u51e0\u5e74\uff0c\u4f46\u4ef7\u503c\u7ec8\u5c06\u56de\u5f52\u6280\u672f\u672c\u8eab\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u6211\u8ba4\u4e3a\u4e09\u5e74\u540e\u4e0d\u4f1a\u518d\u6709\u7535\u529b\u74f6\u9888\uff0c\u4e5f\u4e0d\u4f1a\u518d\u6709\u52b3\u52a8\u529b\u74f6\u9888\u3002\u8fd9\u4e9b\u95ee\u9898\u53ef\u80fd\u5728\u672a\u676518\u4e2a\u6708\u5185\u6301\u7eed\u5b58\u5728\u3002<\/p>\n<p>\u4ece\u6839\u672c\u4e0a\u8bf4\uff0c\u80a1\u7968\u662f\u957f\u4e45\u671f\u8d44\u4ea7\uff0c\u4f60\u5e94\u8be5\u7740\u773c\u4e8e\u6574\u4e2a\u5468\u671f\u6216\u66f4\u957f\u65f6\u95f4\u7ef4\u5ea6\u5185\u7684\u6838\u5fc3\u4e1a\u52a1\u8d28\u5730\u3002\u57fa\u4e8e\u5f53\u524d\u4f9b\u4e0d\u5e94\u6c42\u7684\u73b0\u8d27\u4ef7\u683c\u4e3a\u4e00\u5bb6\u516c\u53f8\u5b9a\u4ef7\uff0c\u77ed\u671f\u5185\u56fa\u7136\u523a\u6fc0\uff0c\u4f46\u6ce2\u52a8\u98ce\u9669\u4e5f\u4e0d\u5bb9\u5c0f\u89d1\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u6211\u5e76\u4e0d\u6253\u7b97\u4e3a\u65b0\u5174\u4e91\u670d\u52a1\u5546\u8fa9\u62a4\uff0c\u672c\u6765\u4e5f\u4e0d\u505a\u591a\u8fd9\u7c7b\u516c\u53f8\u3002\u4e0d\u8fc7\u6211\u60f3\u8865\u5145\u4e00\u70b9\uff1a\u5b83\u4eec\u4e4b\u95f4\u5e76\u4e0d\u5b8c\u5168\u76f8\u540c\u3002<\/p>\n<p>\u50cfEquinix\u3001Digital Realty\u8fd9\u7c7b\u662f\u4f20\u7edf\u6258\u7ba1\u670d\u52a1\u5546\uff0c\u672c\u8d28\u4e0a\u5c31\u662f&quot;\u7a7a\u58f3\u51fa\u79df&quot;\u2014\u2014\u5ba2\u6237\u81ea\u5e26\u670d\u52a1\u5668\uff0c\u653e\u8fdb\u673a\u67dc\uff0c\u4ed8\u79df\u91d1\uff0c\u5341\u5e74\u540e\u518d\u6765\u6362\u673a\u5668\u3002\u4f46Core Weave\u8fd9\u7c7b\u66f4\u65b0\u7684\u73a9\u5bb6\uff0c\u5176\u5b9e\u5728\u5e95\u5c42\u786c\u4ef6\u4e4b\u4e0a\u8fd8\u53e0\u52a0\u4e86\u8f6f\u4ef6\u5c42\u548c\u4f18\u5316\u5c42\u3002\u4ee5CoreWeave\u4e3a\u4f8b\uff0c\u5e76\u975e100%\u7684\u6536\u5165\u90fd\u9501\u5b9a\u5728\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u7684\u957f\u671f\u5408\u540c\u4e2d\uff0c\u5927\u7ea6\u670940%\u81f350%\u6765\u81ea\u63a8\u7406\u5de5\u4f5c\u8d1f\u8f7d\u7684\u73b0\u8d27\u5e02\u573a\uff0c\u800c\u63a8\u7406\u9700\u6c42\u6b63\u662f\u5f53\u524d\u73b0\u8d27\u4ef7\u683c\u4e0a\u6da8\u7684\u4e3b\u8981\u9a71\u52a8\u529b\u3002\u4ed6\u4eec\u53ef\u4ee5\u4ece\u4e2d\u53d7\u76ca\uff0c\u5e76\u5c06\u6210\u672c\u8f6c\u5ac1\u51fa\u53bb\u3002\u6240\u4ee5\u8fd9\u4e9b\u516c\u53f8\u5e76\u975e\u7b80\u5355\u7684&quot;\u7a7a\u58f3&quot;\uff0c\u786e\u5b9e\u5b58\u5728\u4e00\u5b9a\u6280\u672f\u542b\u91cf\u3002\u4f46\u8fd9\u4e9b\u6280\u672f\u7ec8\u5f52\u6765\u81eaNvidia\u3001Broadcom\u7b49\u82af\u7247\u5382\u5546\uff0c\u800c\u975e\u4ed6\u4eec\u81ea\u5df1\u6784\u5efa\u7684\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0cCerebras\u8fd9\u6837\u7684\u516c\u53f8\uff0c\u6280\u672f\u5c42\u9762\u5c31\u8fdc\u975e\u540c\u4e00\u91cf\u7ea7\u4e86\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u6211\u7406\u89e3\u4f60\u7684\u533a\u5206\u3002\u4f46\u540c\u6837\u8981\u8bb0\u4f4f\uff0c\u8fd9\u662f\u6280\u672f\u884c\u4e1a\uff0c\u6280\u672f\u662f\u4f1a\u53d8\u5316\u7684\u3002\u63a8\u7406\u8ba1\u7b97\u5b8c\u5168\u53ef\u80fd\u8fc1\u79fb\u5230\u624b\u673a\u6216\u684c\u9762\u7aef\u3002\u6709\u4eba\u8bf4\u8fd9\u5728\u7ecf\u6d4e\u4e0a\u4e0d\u53ef\u884c\uff0c\u4f46\u8fd9\u4e9b\u4eba\u540c\u65f6\u53c8\u5728\u544a\u8bc9\u6211\u8981\u628a\u6570\u636e\u4e2d\u5fc3\u653e\u5230\u592a\u7a7a\u53bb\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u8bf4\u5230\u592a\u7a7a\u6570\u636e\u4e2d\u5fc3\u2014\u2014<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>Jim\uff0c\u4f60\u5bf9\u592a\u7a7a\u6709\u81ea\u5df1\u7684\u770b\u6cd5\uff1f\u6211\u76f8\u4fe1\u4f60\u6709\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u592a\u7a7a\u6570\u636e\u4e2d\u5fc3\u4f60\u60f3\u804a\u4ec0\u4e48\uff1f<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u8fd9\u662f\u4e2a\u597d\u4e3b\u610f\u5417\uff1f\u503c\u5f97\u6295\u8d44\u5417\uff1f<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u597d\uff0c\u5148\u8bf4\u6210\u672c\u7ed3\u6784\u3002\u5927\u5bb6\u90fd\u77e5\u9053\u628a\u6570\u636e\u4e2d\u5fc3\u9001\u4e0a\u5929\u4ee3\u4ef7\u4e0d\u83f2\uff0c\u4e3b\u8981\u53d6\u51b3\u4e8e\u53d1\u5c04\u6210\u672c\u3002\u4f46\u6709\u4e24\u70b9\u503c\u5f97\u6ce8\u610f\uff1a<\/p>\n<p>\u7b2c\u4e00\uff0c\u7535\u529b\u6210\u672c\u5c3d\u7ba1\u5b58\u5728\u74f6\u9888\uff0c\u4f46\u5360\u6570\u636e\u4e2d\u5fc3\u603b\u6210\u672c\u7684\u6bd4\u4f8b\u5176\u5b9e\u5f88\u4f4e\uff0c\u5927\u7ea6\u53ea\u6709\u8425\u6536\u76845%\u81f37%\u3002\u5982\u679c\u4f60\u7684\u903b\u8f91\u662f&quot;\u592a\u9633\u80fd\u662f\u514d\u8d39\u7684\u7535\u6e90&quot;\uff0c\u90a3\u8fd9\u4e2a\u903b\u8f91\u4ece\u4e00\u5f00\u59cb\u5c31\u7ad9\u4e0d\u4f4f\u811a\u2014\u2014\u7535\u529b\u672c\u5c31\u4e0d\u662f\u4e3b\u8981\u6210\u672c\uff0c\u800c\u4e14\u5982\u6211\u4eec\u4e4b\u524d\u8ba8\u8bba\u7684\uff0c\u7535\u529b\u74f6\u9888\u672a\u6765\u4f1a\u8fdb\u4e00\u6b65\u7f13\u89e3\u3002<\/p>\n<p>\u7b2c\u4e8c\uff0c\u592a\u7a7a\u4e2d\u771f\u6b63\u7684\u5927\u95ee\u9898\u6709\u4e24\u4e2a\uff1a\u4e00\u662f\u6563\u70ed\uff0c\u771f\u7a7a\u73af\u5883\u4e2d\u65e0\u6cd5\u901a\u8fc7\u5bf9\u6d41\u6563\u70ed\uff0c\u56fd\u9645\u7a7a\u95f4\u7ad9\u90a3\u4e9b\u5de8\u5927\u7684\u6563\u70ed\u677f\u5c31\u8bf4\u660e\u4e86\u8fd9\u4e00\u70b9\uff1b\u4e8c\u662f\u8f90\u5c04\u2014\u2014\u590d\u6742\u7535\u5b50\u7cfb\u7edf\u5728\u592a\u7a7a\u8f90\u5c04\u4e2d\u957f\u671f\u8fd0\u884c\uff0c\u53ef\u9760\u6027\u4f1a\u4e25\u91cd\u4e0b\u964d\u3002<\/p>\n<p>\u6b64\u5916\u8fd8\u6709\u5197\u4f59\u548c\u4fdd\u9669\u7684\u95ee\u9898\u3002\u5730\u9762\u6570\u636e\u4e2d\u5fc3\u8bbe\u5907\u6545\u969c\u6781\u4e3a\u5e38\u89c1\uff0c\u7ef4\u4fee\u56e2\u961f\u968f\u53eb\u968f\u5230\uff0c\u66f4\u6362\u96f6\u4ef6\u5373\u53ef\u6062\u590d\u8fd0\u884c\u3002\u800c\u5728\u592a\u7a7a\uff0c\u4f60\u5f97\u53d1\u5c04\u4e00\u8258\u98de\u8239\uff0c\u7406\u8bba\u4e0a\u6d3e\u673a\u5668\u4eba\u53bb\u4fee\uff0c\u6bcf\u6b21\u51fa\u95ee\u9898\u90fd\u8981\u7ecf\u5386\u4e00\u6b21\u53d1\u5c04\uff0c\u6210\u672c\u9aa4\u7136\u98d9\u5347\uff0c\u4efb\u4f55\u7406\u8bba\u4e0a\u7684\u8282\u7701\u90fd\u4f1a\u88ab\u8fc5\u901f\u541e\u566c\u3002<\/p>\n<p>\u6700\u540e\u8fd8\u6709\u4e00\u4e2a\u73b0\u5b9e\u95ee\u9898\uff1a\u8fd9\u4e2a\u65b9\u6848\u7684\u4e3b\u8981\u5021\u5bfc\u8005\uff0c\u5176\u65d7\u8230\u706b\u7badStarship\u572812\u6b21\u98de\u884c\u4e2d\u8fd8\u6ca1\u6709\u4e00\u6b21\u6210\u529f\u5165\u8f68\uff0c\u6211\u4f30\u8ba1\u5176\u4e2d\u516d\u4e03\u6b21\u662f\u4ee5\u7206\u70b8\u544a\u7ec8\u3002\u6240\u6709\u5b8f\u4f1f\u7684\u627f\u8bfa\uff0c\u90fd\u5efa\u7acb\u5728\u4e00\u679a\u5c1a\u672a\u5b9e\u73b0\u5730\u7403\u8f68\u9053\u98de\u884c\u7684\u706b\u7bad\u4e4b\u4e0a\u3002\u592a\u7a7a\u7684&quot;\u5e02\u573a\u7a7a\u95f4&quot;\u786e\u5b9e\u65e0\u9650\u5927\uff0c\u4f46\u592a\u7a7a\u7684\u71b5\u589e\u540c\u6837\u662f\u65e0\u9650\u7684\u2014\u2014\u968f\u673a\u6027\u548c\u4e0d\u53ef\u63a7\u6027\u4e5f\u662f\u65e0\u7a77\u65e0\u5c3d\u7684\u3002\u6211\u8ba4\u4e3a\u6ca1\u6709\u4eba\u9700\u8981\u5728\u672a\u6765\u4e94\u5230\u5341\u5e74\u5185\u4e3a\u6b64\u62c5\u5fe7\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u6211\u60f3\u542c\u4f60\u5bf9SpaceX <a href=\"https:\/\/www.alphaseek.cn\/?tag=ipo\" title=\"View all posts in IPO\" target=\"_blank\" class=\"tag_link\">IPO<\/a>\u7684\u770b\u6cd5\u3002\u6211\u731c\u4f60\u4e0d\u4f1a\u662f\u4e70\u65b9\uff0c\u505a\u7a7a\u65b0\u80a1\u7684\u98ce\u9669\u4e5f\u4f17\u6240\u5468\u77e5\u3002\u4f46\u62db\u80a1\u8bf4\u660e\u4e66\u5df2\u7ecf\u51fa\u6765\u4e86\uff0c\u4f60\u5927\u6982\u4e5f\u770b\u8fc7\u4e86\u3002\u4f60\u600e\u4e48\u601d\u8003\u662f\u5426\u505a\u7a7a\u8fd9\u5bb6\u516c\u53f8\uff1f<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5148\u770b\u73b0\u6709\u4e1a\u52a1\uff0c\u6570\u5b57\u5e76\u4e0d\u597d\u770b\u2014\u2014\u5373\u4fbf\u7b97\u4e0aStarlink\u3002<\/p>\n<p>Starlink\u662f\u76c8\u5229\u7684\uff0c\u662f\u4e2a\u5c1a\u53ef\u7684\u751f\u610f\uff0c\u4f46\u589e\u957f\u5df2\u7ecf\u660e\u663e\u653e\u7f13\uff0c\u4e3a\u4e86\u523a\u6fc0\u7528\u6237\u91cf\u589e\u957f\u4e0d\u5f97\u4e0d\u964d\u4ef7\u3002\u76ee\u524dStarlink\u5e74\u5ea6\u8fd0\u8425\u5229\u6da6\u5927\u7ea640\u4ebf\u7f8e\u5143\uff0c\u4f46\u80cc\u540e\u7684\u6295\u5165\u8d44\u672c\u4f30\u8ba1\u5728250\u4ebf\u81f3300\u4ebf\u4e4b\u95f4\uff0c\u56de\u62a5\u7387\u4e0d\u7b97\u51fa\u8272\uff0c\u53ea\u80fd\u8bf4\u662f\u4e2a\u5408\u683c\u7684\u751f\u610f\u3002<\/p>\n<p>\u95ee\u9898\u5728\u4e8e\uff0c\u53d1\u5c04\u4e1a\u52a1\u81f3\u4eca\u4ecd\u5728\u4e8f\u635f\uff0c\u70e7\u4e86\u6570\u5341\u4ebf\u4e4b\u540e\u4f9d\u7136\u5982\u6b64\u3002\u6b64\u5916\uff0cStarlink\u7684\u53d1\u5c04\u6210\u672c\u53d7\u76ca\u4e8e\u6bcd\u516c\u53f8\u7684\u5185\u90e8\u4f18\u60e0\u5b9a\u4ef7\uff0c\u771f\u5b9e\u76c8\u5229\u80fd\u529b\u53ef\u80fd\u88ab\u9ad8\u4f30\u3002<\/p>\n<p>xAI\u662f\u6700\u5927\u7684\u53d8\u91cf\u2014\u2014\u6301\u7eed\u70e7\u94b1\uff0c\u4e0eAnthropic\u7b7e\u7684\u4e5f\u53ea\u662f\u77ed\u671f\u5408\u540c\uff0c\u76ee\u524d\u5b8c\u5168\u662f\u4e2a\u8d44\u91d1\u9ed1\u6d1e\u3002<\/p>\n<p>\u6240\u4ee5\u4f60\u9700\u8981\u76f8\u4fe1\u706b\u661f\u79fb\u6c11\u3001\u6708\u7403\u57fa\u5730\u3001\u592a\u7a7a\u6570\u636e\u4e2d\u5fc3\uff0c\u624d\u80fd\u4e3a\u63a5\u8fd12\u4e07\u4ebf\u7f8e\u5143\u7684\u4f30\u503c\u627e\u5230\u5408\u7406\u6027\u3002\u8fd9\u8ba9\u6211\u60f3\u8d77\u4e86\u7279\u65af\u62c9\u2014\u2014\u4f60\u65e0\u6cd5\u5355\u51ed\u5356\u8f66\u6765\u652f\u6491\u7279\u65af\u62c9\u7684\u4f30\u503c\uff0c\u4e00\u5207\u90fd\u5efa\u7acb\u5728&quot;\u672a\u6765\u53ef\u80fd\u53d1\u751f\u7684\u4e8b\u60c5&quot;\u4e0a\u3002<\/p>\n<p>\u6b63\u5982\u6211\u8bf4\u7684\uff1a\u725b\u5e02\u7528\u6ea2\u4ef7\u5b9a\u4ef7\u672a\u6765\uff0c\u718a\u5e02\u7528\u6298\u4ef7\u5bf9\u5f85\u73b0\u5b9e\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u4f60\u4e4b\u524d\u8c08\u5230\u628a\u5468\u671f\u6027\u4e1a\u52a1\u5f53\u6210\u6210\u957f\u6027\u4e1a\u52a1\u6765\u4f30\u503c\u7684\u95ee\u9898\u3002Val\uff0c\u4f60\u60f3\u5c31\u6b64\u8865\u5145\u4ec0\u4e48\uff1f<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u6211\u60f3\u5728\u4e00\u4e2a\u5177\u4f53\u70b9\u4e0a\u7a0d\u4f5c\u53cd\u9a73\u3002<\/p>\n<p>Elon Musk\u8bb2\u5230\u592a\u7a7a\u6570\u636e\u4e2d\u5fc3\uff0c\u5e76\u4e0d\u662f\u56e0\u4e3a\u4fbf\u5b9c\u2014\u2014\u786e\u5b9e\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%83%bd%e6%ba%90\" title=\"View all posts in \u80fd\u6e90\" target=\"_blank\" class=\"tag_link\">\u80fd\u6e90<\/a>\u5728\u592a\u7a7a\u66f4\u4fbf\u5b9c\uff0c\u4f46\u8981\u6e05\u695a\uff1a\u80fd\u6e90\u53ea\u5360\u6570\u636e\u4e2d\u5fc3\u8d44\u672c\u652f\u51fa\u76845%\uff0c\u5382\u623f\u548c\u571f\u5730\u5927\u7ea6\u536010%\uff0c\u5269\u4e0b\u768485%\u662f\u6570\u636e\u4e2d\u5fc3\u5185\u90e8\u7684\u8ba1\u7b97\u8bbe\u5907\uff0c\u800c\u8fd9\u624d\u662f\u6211\u4eec\u771f\u6b63\u6295\u8d44\u7684\u6838\u5fc3\u3002<\/p>\n<p>\u4ed6\u7684\u903b\u8f91\u4e0d\u662f\u5173\u4e8e\u6210\u672c\uff0c\u800c\u662f\u5173\u4e8e\u4f53\u91cf\u3002\u4ed6\u66fe\u975e\u5e38\u660e\u786e\u5730\u8868\u793a\uff0c\u4ed6\u76f8\u4fe1\u672a\u6765\u51e0\u5e74\u5168\u7403\u5c06\u9700\u89811\u592a\u74e6\u7684\u7b97\u529b\u30021\u592a\u74e6\u7b49\u4e8e1000\u5409\u74e6\u3002\u800c\u76ee\u524d\u5168\u7403\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u7b49\u5408\u8ba1\u7ea67500\u4ebf\u7f8e\u5143\u7684\u8d44\u672c\u652f\u51fa\uff0c\u6362\u7b97\u6210\u7b97\u529b\u5927\u7ea6\u53ea\u670915\u5409\u74e6\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u4ed6\u7684\u76ee\u6807\u662f\u5f53\u524d\u5b9e\u9645\u90e8\u7f72\u91cf\u7684\u7ea667\u500d\u3002\u4ed6\u7684\u610f\u601d\u662f\uff1a\u4f60\u4eec\u73b0\u5728\u804a\u7684\u8fd9\u4e9b\u94b1\uff0c\u5728\u4ed6\u7684\u6846\u67b6\u91cc\u4e0d\u8fc7\u662f\u6bdb\u6bdb\u96e8\u3002<\/p>\n<p>\u4ed6\u4e4b\u6240\u4ee5\u8981\u53bb\u592a\u7a7a\uff0c\u4e0d\u662f\u56e0\u4e3a\u66f4\u4fbf\u5b9c\uff0c\u800c\u662f\u56e0\u4e3a\u9700\u6c42\u4f53\u91cf\u5b9e\u5728\u592a\u5927\u3002\u987a\u4fbf\u8bf4\u4e00\u53e5\uff0c\u7f8e\u56fd\u6574\u4e2a\u7535\u7f51\u7684\u603b\u5bb9\u91cf\u7ea6\u4e3a1.5\u592a\u74e6\uff0c\u8fd8\u5f97\u7559\u6709\u5907\u7528\u88d5\u91cf\u3002\u4ed6\u57fa\u672c\u4e0a\u662f\u5728\u8bf4\uff1a\u6211\u9700\u8981\u4e00\u6574\u4e2a\u7f8e\u56fd\u7535\u7f51\u7684\u5bb9\u91cf\u2014\u2014\u6240\u4ee5\u624d\u8981\u53bb\u592a\u7a7a\u3002<\/p>\n<p>\u6211\u65e0\u6cd5\u8bc4\u4f30\u4ed6\u7684\u65f6\u95f4\u7ebf\u6216\u91ce\u5fc3\u662f\u5426\u53ef\u884c\uff0c\u90a3\u662f\u5176\u4ed6\u4eba\u7684\u4e8b\u3002\u6211\u4e5f\u4e0d\u786e\u5b9a\u505a\u7a7a\u4ed6\u662f\u5426\u660e\u667a\uff0c\u5386\u53f2\u4e0a\u8fd9\u6761\u8def\u8d70\u901a\u7684\u4eba\u4e0d\u591a\u3002<\/p>\n<p>\u6211\u80fd\u786e\u5b9a\u7684\u662f\uff1a\u4ed6\u4e4b\u6240\u4ee5\u5f97\u51fa\u8fd9\u4e2a\u7ed3\u8bba\uff0c\u662f\u56e0\u4e3a\u4ed6\u6ca1\u6709\u770b\u5230AI\u6838\u5fc3\u6280\u672f\u89c4\u5f8b\u51fa\u73b0\u6839\u672c\u6027\u7684\u7a81\u7834\u3002AI\u7684&quot;\u6269\u5c55\u5b9a\u5f8b\uff08Scaling Laws\uff09&quot;\u610f\u601d\u662f\uff1a\u8bad\u7ec3\u96c6\u7fa4\u8d8a\u5927\uff0c\u6295\u5165\u7684\u7b97\u529b\u8d8a\u591a\uff0c\u6a21\u578b\u8f93\u51fa\u8d8a\u597d\uff0c\u667a\u80fd\u6c34\u5e73\u8d8a\u9ad8\u3002\u6240\u6709\u4eba\u90fd\u5728\u8ffd\u6c42\u66f4\u9ad8\u7684\u667a\u80fd\u4e0a\u9650\u3002\u5982\u679c\u4ed6\u8ba4\u4e3a\u6269\u5c55\u5b9a\u5f8b\u5373\u5c06\u5931\u6548\uff0c\u4ed6\u6839\u672c\u4e0d\u4f1a\u8bf4\u9700\u89811\u592a\u74e6\u7684\u7b97\u529b\uff0c\u800c\u662f\u4f1a\u8bf4\u73b0\u6709\u7684\u8bbe\u65bd\u5df2\u7ecf\u8db3\u591f\u7528\u4e86\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u4f60\u662f1999\u5e74\u5c31\u5728\u6295\u8d44\u4e86\u5417\uff1f<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u90a3\u65f6\u5019\u6211\u5728\u9ea6\u80af\u9521\uff0c\u662f\u8fd9\u4e9b\u516c\u53f8\u7684\u987e\u95ee\u3002\u6211\u4eb2\u773c\u89c1\u8bc1\u4e86\u8ba2\u5355\u5d29\u76d8\u65f6\u7684\u60e8\u70c8\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5728\u90a3\u4e2a\u65f6\u4ee3\uff0c\u6709\u4e00\u4e2a\u88ab\u5949\u4e3a\u4fe1\u6761\u7684\u8bba\u65ad\uff1a\u4e92\u8054\u7f51\u6d41\u91cf\u6bcf\u4e2a\u5b63\u5ea6\u7ffb\u4e00\u756a\u3002MCI WorldCom\u6bcf\u4e2a\u5b63\u5ea6\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e4%b8%9a%e7%bb%a9\" title=\"View all posts in \u4e1a\u7ee9\" target=\"_blank\" class=\"tag_link\">\u4e1a\u7ee9<\/a>\u7535\u8bdd\u4f1a\u90fd\u4f1a\u7279\u610f\u5f3a\u8c03\u8fd9\u4e00\u70b9\u3002\u8fd9\u53e5\u8bdd\u6df1\u6df1\u690d\u5165\u4e86\u5e02\u573a\u96c6\u4f53\u610f\u8bc6\uff0c\u63a8\u52a8\u7740\u8d44\u672c\u5f00\u652f\u7684\u87ba\u65cb\u5f0f\u4e0a\u5347\u3002<\/p>\n<p>\u540e\u6765\uff0c\u8d1d\u5c14\u5b9e\u9a8c\u5ba4\u6709\u4e00\u4f4d\u53ebAndrew Odlyzko\u7684\u7814\u7a76\u5458\uff0c\u5927\u7ea6\u57281999\u5e74\u5e95\u5199\u4e86\u4e00\u7bc7\u8bba\u6587\uff0c\u57282000\u5e74\u521d\u6b63\u5f0f\u53d1\u8868\u3002\u4ed6\u901a\u8fc7\u5927\u91cf\u4e25\u8c28\u6570\u636e\u5f97\u51fa\u7ed3\u8bba\uff1a\u4e92\u8054\u7f51\u6d41\u91cf\u786e\u5b9e\u5728\u9ad8\u901f\u589e\u957f\uff0c\u4f46\u662f\u6bcf\u5e74\u7ffb\u4e00\u756a\uff0c\u800c\u975e\u6bcf\u4e2a\u5b63\u5ea6\u3002\u8fd9\u867d\u7136\u4ecd\u5c5e\u9ad8\u901f\u589e\u957f\uff0c\u4f46\u4e0e\u6b64\u524d\u7684\u53d9\u4e8b\u6709\u7740\u5929\u58e4\u4e4b\u522b\u3002<\/p>\n<p>\u95ee\u9898\u5728\u4e8e\uff0c\u6240\u6709\u4eba\u90fd\u5df2\u7ecf\u57fa\u4e8e&quot;\u6bcf\u5b63\u5ea6\u7ffb\u500d&quot;\u7684\u5047\u8bbe\u6784\u5efa\u4e86\u5546\u4e1a\u6a21\u5f0f\u548c\u8ba2\u5355\u8ba1\u5212\u3002\u7f51\u7edc\u8bbe\u5907\u5546\u3001\u7535\u4fe1\u516c\u53f8\u3001\u5149\u7ea4\u94fa\u8bbe\u5546\uff0c\u6beb\u65e0\u4f8b\u5916\u5730\u5728\u9ad8\u901f\u6269\u4ea7\u30022000\u5e74\u521d\uff0c\u5f53\u5e02\u573a\u610f\u8bc6\u5230\u6240\u8c13\u7684&quot;\u5b63\u5ea6\u7ffb\u500d&quot;\u53ef\u80fd\u53ea\u662fMCI\u67d0\u4eba\u7f16\u9020\u51fa\u6765\u3001\u88ab<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>\u4e0d\u52a0\u7504\u522b\u5730\u5e7f\u6cdb\u4f20\u64ad\u65f6\uff0cCFO\u4eec\u5f00\u59cb\u6025\u8e29\u5239\u8f66\u2014\u2014\u539f\u672c2\u4e07\u53f0\u8def\u7531\u5668\u7684\u8ba2\u5355\uff0c\u77ac\u95f4\u780d\u52304000\u53f0\u3002<\/p>\n<p>\u8fd8\u6709\u4e00\u4e2a\u5e38\u88ab\u5ffd\u89c6\u7684\u4e8b\u5b9e\uff1a\u90a3\u6b21\u8d44\u672c\u5f00\u652f\u70ed\u6f6e\u7684\u6700\u5927\u4e70\u5bb6\uff0c\u5e76\u975e\u521d\u521b\u516c\u53f8\u6216\u5149\u7ea4\u8fd0\u8425\u5546\uff0c\u800c\u662fAT&amp;T\u3001\u7f8e\u56fd\u94f6\u884c\u3001\u7f8e\u56fd\u94f6\u884c\u3001\u53ef\u53e3\u53ef\u4e50\u8fd9\u6837\u7684\u5927\u578b\u4f20\u7edf\u4f01\u4e1a\uff0c\u4ed6\u4eec\u5728\u642d\u5efa\u5185\u90e8\u7f51\u7edc\u57fa\u7840\u8bbe\u65bd\uff0c\u5e76\u53e0\u52a0\u4e86Y2K\u9a71\u52a8\u7684\u8bbe\u5907\u66f4\u6362\u9700\u6c42\u3002<\/p>\n<p>\u57fa\u4e8e\u8fd9\u6bb5\u5386\u53f2\uff0c\u6211\u5bf9\u773c\u4e0b&quot;\u5728\u5f53\u524d\u4ef7\u683c\u6c34\u5e73\u4e0a\u5b58\u5728\u5929\u91cf\u7b97\u529b\u9700\u6c42&quot;\u7684\u9884\u6d4b\uff0c\u4fdd\u6301\u76f8\u5f53\u7a0b\u5ea6\u7684\u6000\u7591\u3002\u8fd9\u79cd\u60c5\u51b5\u6216\u8bb8\u4f1a\u53d1\u751f\uff0c\u4f46\u5386\u53f2\u544a\u8bc9\u6211\u4eec\uff0c\u8fd9\u79cd\u75af\u72c2\u7684\u6307\u6570\u7ea7\u589e\u957f\u9884\u6d4b\uff0c\u5f80\u5f80\u4f1a\u88ab\u73b0\u5b9e\u4e16\u754c\u7684\u7ea6\u675f\u6240\u6253\u65ad\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u8fd9\u4e2a\u53c2\u7167\u5b8c\u5168\u6709\u9053\u7406\uff0c\u503c\u5f97\u8ba4\u771f\u5bf9\u5f85\uff0c\u5c24\u5176\u8981\u8003\u8651\u90a3\u4e9b\u9884\u6d4b\u6765\u81ea\u8c01\u7684\u53e3\u4e2d\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u6211\u6709\u4e24\u70b9\u8865\u5145\uff1a<\/p>\n<p>\u7b2c\u4e00\uff0c\u5f53\u524d\u6211\u4eec\u5bf9\u5b9e\u9645\u9700\u6c42\u7684\u8ffd\u8e2a\u65b9\u5f0f\uff0c\u4e0e1999\u5e74\u6709\u6839\u672c\u6027\u7684\u4e0d\u540c\u3002\u90a3\u65f6\u4f60\u53ea\u80fd\u7b49\u7740\u4f01\u4e1aCFO\u6bcf\u5b63\u5ea6\u5f00\u4e00\u6b21\u7535\u8bdd\u4f1a\uff0c\u8bf4\u4e9b\u81ea\u5df1\u7f16\u9020\u7684\u6570\u5b57\u3002\u73b0\u5728\u4f60\u53ef\u4ee5\u76f4\u63a5\u8ffd\u8e2a<a href=\"https:\/\/www.alphaseek.cn\/?tag=openai\" title=\"View all posts in OpenAI\" target=\"_blank\" class=\"tag_link\">OpenAI<\/a>\u7b49\u5e73\u53f0\u516c\u5f00\u7684token\u4f7f\u7528\u91cf\uff0c\u8fd9\u53ea\u662f\u5168\u884c\u4e1a\u7684\u4e00\u4e2a\u7f29\u5f71\uff0c\u4f46\u8d8b\u52bf\u662f\u53ef\u89c1\u7684\u3001\u53ef\u8ffd\u8e2a\u7684\u3002GPU\u79df\u8d41\u4ef7\u683c\u4e0a\u6da8\uff0c\u6b63\u662f\u56e0\u4e3atoken\u4f7f\u7528\u91cf\u5728\u7206\u53d1\u5f0f\u589e\u957f\uff0c\u73b0\u6709GPU\u6839\u672c\u4f9b\u4e0d\u5e94\u6c42\u3002<\/p>\n<p>\u8fd9\u4e0d\u4ee3\u8868\u4f1a\u4e00\u76f4\u6301\u7eed\u3002\u4f46\u5c31\u76ee\u524d\u6765\u770b\uff0c\u5ba2\u89c2\u6570\u636e\u8868\u660e\uff1a\u4f60\u4e0d\u9700\u8981\u7b49\u7740\u542cCFO\u7684\u8bf4\u8f9e\uff0c\u4f60\u53ef\u4ee5\u5728\u81ea\u5df1\u7684\u65e5\u5e38\u4f7f\u7528\u4e2d\u76f4\u63a5\u611f\u53d7\u5230\u9700\u6c42\u7684\u5b58\u5728\u3002<\/p>\n<p>\u7b2c\u4e8c\uff0c1999\u5e74\u548c\u73b0\u5728\u8fd8\u6709\u4e24\u4e2a\u91cd\u8981\u7684\u6280\u672f\u5dee\u5f02\u3002<\/p>\n<p>\u90a3\u65f6\u7684\u57fa\u7840\u8bbe\u65bd\u6295\u8d44\u4e3b\u8981\u662f\u5149\u7ea4\u94fa\u8bbe\u3002\u5149\u7ea4\u7684\u6210\u672c\u7ed3\u6784\u51b3\u5b9a\u4e86\u8fc7\u5ea6\u5efa\u8bbe\u51e0\u4e4e\u662f\u5fc5\u7136\u7684\u2014\u201470%\u662f\u56fa\u5b9a\u6210\u672c\uff0c\u65e2\u7136\u6316\u4e86\u6c9f\uff0c\u5c31\u5c3d\u53ef\u80fd\u591a\u57cb\u5149\u7ea4\u3002\u6b64\u5916\uff0c\u6ce2\u5206\u590d\u7528\uff08WDM\uff09\u6280\u672f\u7684\u7a81\u7834\uff0c\u4f7f\u5f97\u540c\u4e00\u6839\u5149\u7ea4\u7684\u4f20\u8f93\u5bb9\u91cf\u5927\u5e45\u63d0\u5347\uff0c\u539f\u672c\u5c31\u5df2\u8fc7\u5269\u7684\u4f9b\u7ed9\u77ac\u95f4\u7ffb\u500d\uff0c\u9020\u6210\u66f4\u4e25\u91cd\u7684\u4ea7\u80fd\u8fc7\u5269\u3002<\/p>\n<p>\u8fd9\u79cd\u6280\u672f\u7a81\u53d8\u5728\u4eca\u5929\u540c\u6837\u53ef\u80fd\u53d1\u751f\u3002\u6709\u4eba\u53ef\u80fd\u63d0\u51fa\u5168\u65b0\u7684AI\u67b6\u6784\uff0c\u4e00\u79cd\u4e0d\u4f9d\u8d56\u5927\u8bed\u8a00\u6a21\u578b\u6216Transformer\u7684\u65b0\u578b\u6a21\u578b\uff0c\u4ee5\u6781\u4f4e\u7684\u7b97\u529b\u6295\u5165\u5b9e\u73b0\u5927\u5e45\u5ea6\u7684\u6027\u80fd\u63d0\u5347\u3002AI\u7684\u6269\u5c55\u5b9a\u5f8b\u5df2\u7ecf\u8fd0\u884c\u4e86\u7ea612\u5e74\uff0c\u4f46\u5b83\u4e0d\u662f\u7269\u7406\u5b9a\u5f8b\uff0c\u4e0d\u662f\u4e0d\u53ef\u64bc\u52a8\u7684\u771f\u7406\u3002\u5982\u679c\u6709\u4eba\u80fd\u6253\u7834\u5b83\uff0c\u6574\u4e2a\u8ba8\u8bba\u90fd\u5c06\u91cd\u5199\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u6211\u60f3\u5230\u4e86\u4e00\u4e2a\u8ba9\u6211\u591c\u4e0d\u80fd\u5bd0\u7684\u5669\u68a6\u60c5\u666f\uff1a\u5982\u679c\u6709\u4eba\u771f\u7684\u7834\u4e86\u6269\u5c55\u5b9a\u5f8b\uff0c&quot;\u9550\u4e0e\u94f2&quot;\u7684\u6295\u8d44\u903b\u8f91\u5c06\u5f7b\u5e95\u98a0\u8986\uff0c\u6574\u4e2a\u8ba8\u8bba\u90fd\u8981\u91cd\u6765\u3002\u8fd9\u662f\u6211\u5bf9\u591a\u5934\u4ed3\u4f4d\u6700\u5927\u7684\u62c5\u5fe7\u6240\u5728\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u8fd9\u5012\u662f\u53ef\u4ee5\u5f15\u51fa\u4e0b\u4e00\u4e2a\u8bdd\u9898\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u6211\u60f3\u8c08\u8c08\u5b58\u50a8\u5668\u3002\u4ece\u82af\u7247\u5236\u9020\u7684\u5386\u53f2\u6765\u770b\uff0c\u5b58\u50a8\u5668\u4e00\u76f4\u662f\u9ad8\u5ea6\u540c\u8d28\u5316\u7684\u5546\u54c1\u5e02\u573a\uff1a\u5404\u5bb6\u5382\u5546\u62fc\u547d\u6269\u4ea7\u3001\u4ef7\u683c\u6301\u7eed\u4e0b\u884c\u3001\u4f01\u4e1a\u63a5\u8fde\u51fa\u5c40\u3002<\/p>\n<p>\u4e3a\u4ec0\u4e48\u8fd9\u4e00\u6b21\u4e0d\u540c\uff1f\u4e09\u5927\u5b58\u50a8\u5668\u5382\u5546\u2014\u2014\u4e00\u5bb6\u7f8e\u56fd\u7684\u3001\u4e24\u5bb6<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%9f%a9%e5%9b%bd\" title=\"View all posts in \u97e9\u56fd\" target=\"_blank\" class=\"tag_link\">\u97e9\u56fd<\/a>\u7684\u2014\u2014\u80a1\u4ef7\u5927\u5e45\u4e0a\u6da8\uff0c\u4f46\u8fdc\u671f\u5e02\u76c8\u7387\u53cd\u800c\u4e0b\u964d\u4e86\uff0c\u56e0\u4e3a\u5e02\u573a\u5bf9\u5176\u5b9a\u4ef7\u80fd\u529b\u7684\u9884\u671f\u5927\u5e45\u63d0\u5347\u3002\u8fd9\u8ba9\u6211\u60f3\u8d77<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%9f%b3%e6%b2%b9\" title=\"View all posts in \u77f3\u6cb9\" target=\"_blank\" class=\"tag_link\">\u77f3\u6cb9<\/a>\u884c\u4e1a\u7684\u8001\u903b\u8f91\uff1a\u5f53\u6cb9\u4ef7\u98d9\u5230150\u7f8e\u5143\uff0c\u8fdc\u671f\u5e02\u76c8\u7387\u770b\u8d77\u6765\u53ea\u67096\u500d\uff0c\u4f46\u8fd9\u6070\u6070\u662f\u6700\u4e0d\u8be5\u4e70\u7684\u65f6\u5019\u3002\u5b58\u50a8\u5668\u73b0\u5728\u7684\u903b\u8f91\u771f\u7684\u4e0d\u4e00\u6837\u4e86\u5417\uff1f<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>&quot;\u8fd9\u6b21\u4e0d\u540c&quot;\u662f\u91d1\u878d\u4e16\u754c\u91cc\u6700\u5371\u9669\u7684\u56db\u4e2a\u5b57\u3002\u6211\u4e0d\u4f1a\u65ad\u8a00\u5b58\u50a8\u5668\u4ef7\u683c\u6c38\u8fdc\u4e0d\u4f1a\u4e0b\u8dcc\uff0c\u6211\u5728\u8fd9\u4e2a\u884c\u4e1a\u6478\u722c\u6eda\u6253\u4e8626\u5e74\uff0c\u8fd9\u6837\u7684\u5267\u60c5\u770b\u8fc7\u592a\u591a\u6b21\u3002<\/p>\n<p>\u4f46\u6211\u786e\u5b9e\u76f8\u4fe1\uff0c\u6b64\u6b21\u5b58\u50a8\u5668\u7684\u9700\u6c42\u5cf0\u503c\uff0c\u65e0\u8bba\u4ece\u5e45\u5ea6\u8fd8\u662f\u6301\u7eed\u6027\u6765\u770b\uff0c\u90fd\u9ad8\u4e8e\u8fc7\u53bb25\u5e74\u7684\u4efb\u4f55\u4e00\u6b21\u3002\u800c\u4e14\u8fd9\u4e2a\u5cf0\u503c\u5e73\u53f0\u671f\u53ef\u80fd\u4f1a\u7ef4\u6301\u8f83\u957f\u65f6\u95f4\u2014\u20142\u81f34\u5e74\u751a\u81f3\u66f4\u4e45\u2014\u2014\u7136\u540e\u624d\u4f1a\u51fa\u73b0\u4ef7\u683c\u7684\u56de\u843d\u3002<\/p>\n<p>\u800c\u5e02\u573a\u76ee\u524d\u7684\u5b9a\u4ef7\uff0c\u6b63\u5728\u75286\u81f37\u500d\u7684\u8fdc\u671f\u5e02\u76c8\u7387\u5bf9\u5b58\u50a8\u5668\u80a1\u7968\u6253\u6298\uff0c\u8fd9\u610f\u5473\u7740\u5e02\u573a\u8ba4\u4e3a\u4ef7\u683c\u4e0b\u884c\u5468\u671f\u5c31\u5728\u516d\u4e2a\u6708\u4e4b\u5185\u3002\u6211\u8ba4\u4e3a\u8fd9\u79cd\u9884\u671f\u6781\u4e0d\u53ef\u80fd\u5b9e\u73b0\u3002<\/p>\n<p>\u539f\u56e0\u6709\u4e24\u4e2a\uff1a<\/p>\n<p>\u5176\u4e00\uff0c\u4ea7\u80fd\u6269\u5f20\u53d7\u5230\u7269\u7406\u7ea6\u675f\u3002 \u5373\u4fbf\u4f60\u6709\u65e0\u9650\u6d01\u51c0\u5ba4\uff0c\u8bbe\u5907\u4f9b\u5e94\u5546\u2014\u2014ASML\u3001\u5e94\u7528\u6750\u6599\u7b49\u2014\u2014\u6bcf\u5e74\u7684\u51fa\u8d27\u91cf\u589e\u901f\u4e5f\u4e0d\u53ef\u80fd\u8d85\u8fc730%\u81f335%\uff0c\u8fd9\u662f\u7531\u4f9b\u5e94\u94fe\u590d\u6742\u5ea6\u51b3\u5b9a\u7684\u786c\u7ea6\u675f\u3002\u5b58\u50a8\u5668bit\u7684\u4ea7\u80fd\u589e\u901f\u5c31\u88ab\u5361\u6b7b\u5728\u8fd9\u4e2a\u4e0a\u9650\u3002<\/p>\n<p>\u5176\u4e8c\uff0c\u5b58\u50a8\u5668\u5382\u5546\u81ea\u8eab\u6781\u4e3a\u8c28\u614e\u3002 \u8fd9\u4e9b\u516c\u53f8\u7ecf\u5386\u4e86\u957f\u8fbe\u6570\u5e74\u7684\u4ef7\u683c\u4e0b\u8dcc\u548c\u5229\u6da6\u538b\u7f29\uff0c\u4e00\u76f4\u52302024\u5e74\u751a\u81f32025\u5e74\u521d\u4ecd\u5982\u6b64\u3002\u8fd9\u4e9b60\u300170\u5c81\u7684\u8001\u884c\u5bb6\uff0c\u89c1\u8fc7\u592a\u591a\u6b21\u5468\u671f\u3002\u7edd\u4e0d\u4f1a\u56e0\u4e3a\u54ea\u4e2a30\u5c81\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%a1%85%e8%b0%b7\" title=\"View all posts in \u7845\u8c37\" target=\"_blank\" class=\"tag_link\">\u7845\u8c37<\/a>\u5e74\u8f7b\u4eba\u8dd1\u8fc7\u6765\u8bf4&quot;\u6211\u9700\u8981\u6bd4\u4f60\u4eec\u6709\u53f2\u4ee5\u6765\u751f\u4ea7\u7684\u603b\u91cf\u518d\u591a100\u500d\u7684\u5b58\u50a8\u5668&quot;\uff0c\u5c31\u9a6c\u4e0a\u5927\u5e45\u6269\u4ea7\u3002\u4ed6\u4eec\u6781\u5ea6\u8c28\u614e\uff0c\u6839\u672c\u6ca1\u6709\u63d0\u524d\u5907\u597d\u6240\u9700\u7684\u989d\u5916\u6d01\u51c0\u5ba4\u4ea7\u80fd\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u6709\u610f\u601d\u7684\u662f\uff0c\u53f0\u79ef\u7535CEO\u6628\u665a\u6070\u597d\u5bf9\u8fd9\u4e00\u89c2\u70b9\u63d0\u51fa\u4e86\u53cd\u9a73\u3002\u4ed6\u662f\u90a3\u79cd\u9605\u5386\u4e30\u5bcc\u3001\u89c1\u8fc7\u65e0\u6570\u5468\u671f\u768470\u5c81\u8001\u5c06\uff0c\u4f46\u4ed6\u660e\u786e\u8868\u793a\uff1a&quot;\u4e0d\uff0c\u6211\u4eec\u6b63\u5728\u4ee5\u6700\u5feb\u901f\u5ea6\u6269\u4ea7\uff0c\u5176\u4ed6\u73af\u8282\u53ef\u80fd\u6709\u74f6\u9888\uff0c\u4f46\u6211\u4eec\u4f1a\u5c3d\u5feb\u5efa\u65b0\u7684\u6676\u5706\u5382\u3002&quot;<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u4f46&quot;\u5c3d\u529b\u6269\u5f20&quot;\u7684\u786c\u4e0a\u9650\u4ecd\u7136\u5b58\u5728\u2014\u2014\u8bbe\u5907\u5546\u6bcf\u5e74\u5c31\u662f\u53ea\u80fd\u589e\u957f30%\uff0c\u8fd9\u662f\u7269\u7406\u7ea6\u675f\uff0c\u4e0d\u662f\u610f\u613f\u95ee\u9898\u3002\u6ca1\u6709\u4eba\u80fd\u7ed5\u8fc7\u5b83\u3002\u800c\u4e14\u65b0\u5efa\u6d01\u51c0\u5ba4\u9020\u4ef7\u9ad8\u6602\uff0c\u5efa\u8bbe\u5468\u671f\u957f\u8fbe\u4e94\u5e74\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u8fd9\u786e\u5b9e\u4f1a\u8fdb\u4e00\u6b65\u63a8\u9ad8\u6574\u4e2a\u884c\u4e1a\u7684\u6210\u672c\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u5fc5\u7136\u5982\u6b64\u3002\u534a\u5bfc\u4f53\u884c\u4e1a\u5177\u6709\u663e\u8457\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%80%9a%e8%83%80\" title=\"View all posts in \u901a\u80c0\" target=\"_blank\" class=\"tag_link\">\u901a\u80c0<\/a>\u6548\u5e94\u3002\u4e94\u516d\u5e74\u524d\u884c\u4e1a\u4e0b\u884c\u5468\u671f\u7ed3\u675f\u4e4b\u540e\uff0c\u534a\u5bfc\u4f53\u5c31\u4ece\u6301\u7eed\u901a\u7f29\u8f6c\u53d8\u4e3a\u6301\u7eed\u901a\u80c0\uff0c\u5e76\u5c06\u5728\u672a\u6765\u516d\u4e03\u5e74\u4e43\u81f3\u66f4\u957f\u65f6\u95f4\u5185\u7ef4\u6301\u8fd9\u79cd\u8d8b\u52bf\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>Val\uff0c\u4f60\u4e4b\u524d\u63d0\u5230\u4f60\u4ece\u504f\u7a7a\u7684\u89c6\u89d2\u5173\u6ce8\u5b58\u50a8\u5668\u7684&quot;\u4f7f\u7528\u65b9&quot;\uff1f<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u662f\u7684\u3002DRAM\u548c\u95ea\u5b58\u4ef7\u683c\u5df2\u7ecf\u4e0a\u6da8\u4e864\u81f35\u500d\uff0c\u8fd9\u5b8c\u5168\u7531\u6570\u636e\u4e2d\u5fc3\u9700\u6c42\u9a71\u52a8\u3002\u80cc\u540e\u6709\u51e0\u4e2a\u5173\u952e\u56e0\u7d20\u53e0\u52a0\uff1a<\/p>\n<p>\u9996\u5148\uff0cAI\u6a21\u578b\u4ece\u7eaf\u804a\u5929\u673a\u5668\u4eba\u6f14\u8fdb\u4e3a\u63a8\u7406\u6a21\u578b\uff0c\u9700\u8981\u5b58\u50a8\u7684token\u6570\u91cf\u5927\u5e45\u589e\u52a0\uff1b\u5176\u6b21\uff0c\u4e0a\u4e0b\u6587\u7a97\u53e3\u6301\u7eed\u6269\u5927\uff1b\u6700\u540e\uff0c\u8fd1\u4e94\u4e2a\u6708\u6765AI Agent\u7684\u7206\u53d1\u2014\u2014Agent\u9700\u8981\u5b58\u50a8\u5927\u91cf\u7684\u4e2d\u95f4\u72b6\u6001\u4fe1\u606f\uff0c\u5bf9\u5b58\u50a8\u7684\u9700\u6c42\u8fdc\u8d85\u4e4b\u524d\u3002\u8fd9\u4e9b\u56e0\u7d20\u53e0\u52a0\uff0c\u5bfc\u81f4\u8d85\u5927\u89c4\u6a21\u6570\u636e\u4e2d\u5fc3\u7684\u5b58\u50a8\u9700\u6c42\u5728\u8fc7\u53bb12\u4e2a\u6708\u5185\u6025\u5267\u81a8\u80c0\uff0c\u5b8c\u5168\u662f\u771f\u5b9e\u9700\u6c42\u9a71\u52a8\uff0c\u5e76\u975e\u76f2\u76ee\u56e4\u8d27\u3002<\/p>\n<p>\u5b58\u50a8\u5668\u5382\u5546\u5b8c\u5168\u6ca1\u6709\u9884\u6599\u5230\u8fd9\u79cd\u60c5\u51b5\uff0c\u4ef7\u683c\u968f\u4e4b\u98d9\u5347\u3002<\/p>\n<p>\u95ee\u9898\u968f\u4e4b\u800c\u6765\uff1aPC\u5382\u5546\u3001\u667a\u80fd\u624b\u673a\u5382\u5546\u3001\u6d88\u8d39\u7535\u5b50\u5382\u5546\uff0c\u4ed6\u4eec\u7684BOM\uff08\u7269\u6599\u6e05\u5355\uff09\u6210\u672c\u4e2d\uff0c\u5b58\u50a8\u5668\u5360\u6bd4\u4ece\u6b64\u524d\u768420%\u5de6\u53f3\uff0c\u6500\u5347\u81f3\u5982\u4eca\u7ea650%\u3002\u8fd9\u4e9b\u5382\u5546\u53ea\u52695%\u81f36%\u7684\u8fd0\u8425\u5229\u6da6\u7387\uff0c\u552f\u4e00\u51fa\u8def\u5c31\u662f\u628a\u6210\u672c\u8f6c\u5ac1\u7ed9\u6d88\u8d39\u8005\u3002\u8fd9\u5c31\u662f\u4e3a\u4ec0\u4e48\u4f60\u4f1a\u770b\u5230\u667a\u80fd\u624b\u673a\u4ef7\u683c\u666e\u904d\u4e0a\u6da8\u2014\u2014\u6d88\u8d39\u8005\u7aef\u662f\u4e00\u4e2a\u4ef7\u683c\u5f39\u6027\u8f83\u9ad8\u7684\u5e02\u573a\uff0c\u5f53\u624b\u673a\u4ef7\u683c\u4e0a\u6da850%\uff0c\u6d88\u8d39\u8005\u9009\u62e9\u591a\u7b4912\u4e2a\u6708\u518d\u6362\u3002\u8fd9\u76f4\u63a5\u62d6\u7d2f\u4e86PC\u548c\u667a\u80fd\u624b\u673a\u51fa\u8d27\u91cf\uff0c\u4eca\u5e74\u53ef\u80fd\u540c\u6bd4\u4e0b\u6ed1\u767e\u5206\u4e4b\u5341\u51e0\u3002\u8fd9\u79cd\u60c5\u51b5\u6781\u4e3a\u7f55\u89c1\uff0c\u8fd9\u7c7b\u6210\u719f\u5e02\u573a\u901a\u5e38\u90fd\u662f\u591a\u5e74\u6a2a\u76d8\u72b6\u6001\uff0c\u5373\u4fbf\u662f\u667a\u80fd\u624b\u673a\uff0c\u4e0b\u6ed115%\u4e5f\u662f\u975e\u5e38\u5f02\u5e38\u7684\u4fe1\u53f7\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u6211\u8ba4\u4e3a\u90a3\u4e9b\u4e3aPC\u548c\u667a\u80fd\u624b\u673a\u5382\u5546\u4f9b\u5e94\u96f6\u90e8\u4ef6\u3001\u4f46\u53c8\u6ca1\u6709\u5b9a\u4ef7\u6743\u7684\u4e0a\u6e38\u4f01\u4e1a\uff0c\u9762\u4e34\u7684\u662f\u91cf\u4ef7\u53cc\u6740\u7684\u7a98\u5883\uff0c\u8fd9\u662f\u6709\u5438\u5f15\u529b\u7684\u505a\u7a7a\u673a\u4f1a\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u8fd9\u903b\u8f91\u8bf4\u5f97\u901a\u3002Jim\uff0c\u4f60\u600e\u4e48\u770b\u5b58\u50a8\u5668\u4ef7\u683c\uff1f\u4f60\u662f\u5426\u540c\u610fVal\u6240\u8bf4\u7684\uff0c\u4f9b\u5e94\u94fe\u6b63\u5728\u5c3d\u5176\u6240\u80fd\u6269\u4ea7\uff0c\u800c\u7269\u7406\u7ea6\u675f\u5c31\u662f\u65e0\u6cd5\u903e\u8d8a\u7684\u5929\u82b1\u677f\uff1f\u6bd5\u7adf\uff0c\u9502\u3001\u94b4\u3001\u77f3\u6cb9\u3001<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%a4%a9%e7%84%b6%e6%b0%94\" title=\"View all posts in \u5929\u7136\u6c14\" target=\"_blank\" class=\"tag_link\">\u5929\u7136\u6c14<\/a>\u6bcf\u6b21\u6da8\u4ef7\uff0c\u77ff\u4e1a\u516c\u53f8CEO\u90fd\u8bf4&quot;\u5efa\u4e00\u5ea7\u77ff\u5c71\u8981\u4e03\u5e74\uff0c\u6839\u672c\u6765\u4e0d\u53ca&quot;\uff0c\u4f46\u4e00\u5e74\u540e\u4ef7\u683c\u5c31\u5d29\u4e86\u3002\u6211\u77e5\u9053\u5b58\u50a8\u5668\u6709\u5176\u7279\u6b8a\u6027\uff0c\u4f46\u60f3\u542c\u542c\u4f60\u7684\u770b\u6cd5\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5728\u621140\u5e74\u7684\u4ece\u4e1a\u751f\u6daf\u4e2d\uff0c\u6211\u4ece\u672a\u9760\u505a\u7a7aDRAM\u516c\u53f8\u8d5a\u5230\u8fc7\u94b1\u3002\u5b58\u50a8\u5668\u5c31\u662f\u4e2a\u5468\u671f\u6027\u884c\u4e1a\u2014\u2014\u4e0a\u884c\u9636\u6bb5\u4eba\u4eec\u6781\u5ea6\u4e50\u89c2\uff0c\u4e0b\u884c\u9636\u6bb5\u53c8\u6781\u5ea6\u60b2\u89c2\uff0c\u6211\u4eec\u4ece\u6765\u6ca1\u80fd\u51c6\u786e\u628a\u63e1\u8282\u594f\uff0c\u6240\u4ee5\u57fa\u672c\u4e0a\u4e0d\u5728\u7eaf\u5b58\u50a8\u5668\u65b9\u5411\u4e0a\u64cd\u4f5c\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u6211\u5012\u6ce8\u610f\u5230CPU\u9886\u57df\u5f00\u59cb\u51fa\u73b0\u4e00\u4e9b\u6709\u8da3\u7684\u4f30\u503c\u5206\u5316\u3002\u67d0\u4e9b\u516c\u53f8\u6b64\u524d\u4ea4\u6613\u57282\u500d\u5e02\u9500\u7387\uff0c\u73b0\u5728\u5df2\u7ecf\u6da8\u523010\u500d\u751a\u81f312\u500d\uff0c\u800c\u5176\u6240\u5728\u5e02\u573a\u7684\u7ade\u4e89\u683c\u5c40\u5e76\u6ca1\u6709\u53d1\u751f\u6839\u672c\u6027\u53d8\u5316\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u4f60\u5177\u4f53\u8bf4\u7684\u662f\u54ea\u7c7b\u516c\u53f8\uff1f<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u6bd4\u5982\u4e00\u4e9bCPU\u516c\u53f8\u80a1\u4ef7\u6da8\u5e45\u60ca\u4eba\u2014\u2014AMD\u3001Intel\u7b49\u7b49\u3002\u518d\u5bf9\u6bd4\u53f0\u79ef\u7535\u3001Nvidia\uff0c\u4ee5\u53caBroadcom\uff0c\u4f60\u4f1a\u5f00\u59cb\u770b\u5230\u660e\u663e\u7684\u4f30\u503c\u9519\u4f4d\uff1a\u5904\u4e8e\u6fc0\u70c8\u7ade\u4e89\u683c\u5c40\u4e2d\u7684\u516c\u53f8\uff0c\u4f30\u503c\u53cd\u800c\u9ad8\u4e8e\u62e5\u6709\u62a4\u57ce\u6cb3\u7684\u516c\u53f8\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u4f60\u7684\u610f\u601d\u662fIntel\u6da8\u4e86\u592a\u591a\uff0c\u800cIntel\u6240\u5728\u7684\u5e02\u573a\u7ade\u4e89\u6fc0\u70c8\uff1b\u800c\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u5728\u5e02\u573a\u4e0a\u5360\u636e\u4e3b\u5bfc\u5730\u4f4d\u7684Nvidia\uff0c\u4f30\u503c\u53cd\u800c\u66f4\u4fbf\u5b9c\uff1f<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u5bf9\uff0c\u4ece\u76f8\u5bf9\u4ef7\u503c\u6765\u770b\u786e\u5b9e\u5982\u6b64\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>Nvidia\u786e\u5b9e\u6bd4Intel\u4fbf\u5b9c\u591a\u4e86\uff0c\u4f46\u8981\u770b\u6e05\u695a\u80cc\u666f\uff1aIntel\u5df2\u7ecf\u597d\u51e0\u5e74\u6ca1\u6709\u76c8\u5229\u4e86\uff0c\u66fe\u7ecf\u7684\u5784\u65ad\u5730\u4f4d\u57fa\u672c\u4e0a\u5df2\u7ecf\u4e27\u5931\uff0c\u5728AMD\u9762\u524d\u8282\u8282\u8d25\u9000\u3002<\/p>\n<p>\u4f60\u5728\u7528\u5e02\u9500\u7387\u6765\u8861\u91cf\uff0c\u6211\u660e\u767d\u3002\u6211\u4e0d\u4f1a\u8ba4\u540cIntel\u662f\u597d\u7684\u505a\u7a7a\u6807\u7684\u3002\u4f46\u6211\u60f3\u5c31\u4f30\u503c\u8fd9\u4e2a\u8bdd\u9898\u8bf4\u51e0\u53e5\uff1a\u867d\u7136\u5f88\u591a\u534a\u5bfc\u4f53\u516c\u53f8\u8fc7\u53bb\u4e24\u4e2a\u6708\u6da8\u4e86\u4e0d\u5c11\uff0c\u4f46\u4e0d\u662f\u6bcf\u4e00\u5bb6\u90fd\u5904\u4e8e\u6ce1\u6cab\u533a\u95f4\u3002\u8fd9\u548c1999\u5e74\u81f32000\u5e74\u5b8c\u5168\u4e0d\u540c\u2014\u2014\u90a3\u65f6\u5019\u601d\u79d1\u7684\u5e02\u76c8\u7387\u9ad8\u8fbe160\u500d\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u4f60\u89c1\u8fc7\u7279\u65af\u62c9\u7684\u4f30\u503c\u5417\uff1f<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u90a3\u662f\u4f60\u548c\u7279\u65af\u62c9\u4e4b\u95f4\u7684\u6069\u6028\uff0c\u6211\u4e0d\u63ba\u548c\u3002\u786e\u5b9e\u6709\u516c\u53f8\u5728\u4ea4\u6613150\u500d\u5e02\u76c8\u7387\uff0c\u6211\u4e0d\u5426\u8ba4\u3002\u4f46\u5728\u534a\u5bfc\u4f53\u677f\u5757\uff0c\u76ee\u524d\u6700\u8d35\u7684\u662f\u7f51\u7edc\u8bbe\u5907\u7c7b\u516c\u53f8\uff0c\u8fdc\u671f\u5e02\u76c8\u7387\u5927\u7ea650\u81f360\u500d\uff1b\u800c\u5b58\u50a8\u5668\u7c7b\u516c\u53f8\u662f\u6700\u4fbf\u5b9c\u7684\u4e00\u7aef\uff0c\u53ea\u67095\u81f36\u500d\uff1bNvidia\u5927\u7ea6\u57282027\u5e74EPS\u768415\u500d\uff1bBroadcom\u4eca\u5929\u8c03\u6574\u4e4b\u540e\uff0c\u5927\u6982\u57282028\u5e74EPS\u768412\u500d\u5de6\u53f3\u3002\u6240\u4ee5\u8fd9\u4e2a\u677f\u5757\u6574\u4f53\u4e0a\u5e76\u4e0d\u50cf1999\u5e74\u90a3\u6837\u4f30\u503c\u5168\u9762\u6ce1\u6cab\u5316\u3002<\/p>\n<p>\u987a\u4fbf\u8bf4\u4e00\u53e5\uff0c\u6211\u771f\u7684\u4e0d\u660e\u767d\u4e3a\u4ec0\u4e48Costco\u548cWalmart\u7684\u4f30\u503c\u6bd4\u5f88\u591a\u534a\u5bfc\u4f53\u516c\u53f8\u8fd8\u8981\u8d35\u3002\u8fd9\u79cd\u5b9a\u4ef7\u903b\u8f91\u8ba9\u6211\u8d39\u89e3\uff0c\u4f46\u5e02\u573a\u5c31\u662f\u8fd9\u6837\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u8bf4\u5230\u8bbe\u5907\u5236\u9020\u5546\u2014\u2014\u4e5f\u5c31\u662f\u4e3a\u53f0\u79ef\u7535\u548c\u5b58\u50a8\u5668\u5382\u5546\u4f9b\u5e94\u8bbe\u5907\u7684\u516c\u53f8\uff0c\u6bd4\u5982\u6cdb\u6797\u96c6\u56e2\u548cASML\u2014\u2014\u8fd9\u90e8\u5206\u662f\u534a\u5bfc\u4f53\u6307\u6570\u91cc\u4f30\u503c\u6700\u8d35\u7684\u677f\u5757\u3002Val\uff0c\u4f60\u5bf9\u8fd9\u4e2a\u5b50\u677f\u5757\u4f3c\u4e4e\u4e0d\u592a\u611f\u5192\u3002\u4f60\u8ba4\u4e3a\u9ad8\u4f30\u503c\u4e0d\u6210\u7acb\u5417\uff1f\u6bd5\u7adf\u5b58\u50a8\u5668\u5382\u5546\u9700\u6c42\u65fa\u76db\uff0c\u800c\u8bbe\u5907\u5546\u7684\u5546\u4e1a\u6a21\u5f0f\u4e5f\u6709\u7c7b\u4f3c&quot;\u5243\u987b\u5200\u4e0e\u5200\u7247&quot;\u7684\u5468\u671f\u6027\u8017\u6750\u903b\u8f91\u3002<\/p>\n<p><strong>Val Zlatev\uff1a<\/strong><\/p>\n<p>\u8fd9\u4e9b\u516c\u53f8\u662f\u975e\u5e38\u4f18\u8d28\u7684\u4f01\u4e1a\uff0c\u5546\u4e1a\u6a21\u5f0f\u51fa\u8272\uff0c\u5728\u5404\u81ea\u7ec6\u5206\u9886\u57df\u63a5\u8fd1\u5784\u65ad\u5730\u4f4d\uff0c\u6709\u7684\u751a\u81f3\u662f\u771f\u6b63\u7684\u5784\u65ad\u3002\u95ee\u9898\u5728\u4e8e\uff0c\u6b63\u5982\u6211\u524d\u9762\u8bf4\u7684\uff0c\u4ed6\u4eec\u7684\u6536\u5165\u589e\u901f\u88ab\u5361\u5728\u7ea630%\uff0c\u800c\u4e14\u4ed6\u4eec\u4e0d\u4f1a\u901a\u8fc7\u63d0\u4ef7\u6765\u7a81\u7834\u8fd9\u4e2a\u4e0a\u9650\u3002\u4ed6\u4eec\u76ee\u524d\u5927\u7ea6\u4ee535\u500d\u8fdc\u671f\u5e02\u76c8\u7387\u4ea4\u6613\u2014\u201435\u500d\u5bf9\u4e00\u4e2a30%\u7684\u6210\u957f\u578b\u4f01\u4e1a\u6765\u8bf4\u4e0d\u7b97\u79bb\u8c31\uff0c\u4f46\u76f8\u6bd4Nvidia\u6216Broadcom\uff0c\u6027\u4ef7\u6bd4\u5c31\u660e\u663e\u504f\u4f4e\u4e86\u3002<\/p>\n<p>\u6240\u4ee5\u8fd9\u662f\u4e00\u4e2a\u76f8\u5bf9\u4ef7\u503c\u7684\u95ee\u9898\uff0c\u4e0d\u662f\u8bf4\u8fd9\u4e9b\u662f\u574f\u516c\u53f8\uff0c\u800c\u662f\u76f8\u5bf9\u6765\u8bf4\uff0c\u5728\u5f53\u524d\u4f30\u503c\u6c34\u5e73\u4e0a\uff0c\u5b83\u4eec\u7684\u5438\u5f15\u529b\u4e0d\u5982\u4ef7\u503c\u94fe\u4e0a\u7684\u5176\u4ed6\u73af\u8282\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u597d\uff0c\u65f6\u95f4\u5dee\u4e0d\u591a\u4e86\uff0cJim\uff0c\u8bf7\u4f60\u505a\u4e2a\u603b\u7ed3\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u6211\u60f3\u6211\u4eec\u4eca\u5929\u540c\u610f\u7684\u591a\uff0c\u5206\u6b67\u7684\u5c11\u3002\u5728\u8fd9\u4e2a\u5e02\u573a\u91cc\uff0cAI\u65e0\u8bba\u505a\u591a\u8fd8\u662f\u505a\u7a7a\u90fd\u6709\u673a\u4f1a\u3002<\/p>\n<p>\u6211\u60f3\u7ed9\u5728\u573a\u5404\u4f4d\u4e00\u4e2a\u5fe0\u544a\uff1a\u4e0d\u8981\u628a\u795e\u5947\u7684\u4f30\u503c\u8d34\u5728\u5e73\u5eb8\u7684\u5546\u4e1a\u6a21\u5f0f\u4e0a\u3002\u8d44\u672c\u6b63\u5728\u5927\u89c4\u6a21\u6d8c\u5165\u8fd9\u4e2a\u9886\u57df\uff0c\u8fd9\u5fc5\u7136\u4f1a\u538b\u4f4e\u6574\u4e2a\u8d5b\u9053\u7684\u56de\u62a5\u3002\u5728\u5f53\u524d\u8fd9\u4e2a\u5468\u671f\u91cc\uff0c\u8d44\u672c\u4f1a\u6d41\u5411\u6240\u6709\u53c2\u4e0e\u8005\uff1b\u4f46\u968f\u7740\u65f6\u95f4\u63a8\u79fb\uff0c\u5f53\u5546\u4e1a\u6a21\u5f0f\u7684\u672c\u8d28\u6108\u53d1\u6e05\u6670\uff0c\u8d44\u672c\u4f1a\u9010\u6e10\u4ece\u90a3\u4e9b\u5e73\u5eb8\u7684\u6a21\u5f0f\u4e2d\u64a4\u51fa\u3002\u6211\u9884\u8ba1\u5728\u672a\u676518\u81f324\u4e2a\u6708\u5185\uff0c\u8fd9\u4e00\u70b9\u5c06\u53d8\u5f97\u76f8\u5f53\u660e\u6717\u3002<\/p>\n<p><strong>Jack Farley\uff1a<\/strong><\/p>\n<p>\u975e\u5e38\u611f\u8c22\u3002\u5e0c\u671b\u5404\u4f4d\u548c\u6211\u4e00\u6837\u4eab\u53d7\u8fd9\u573a\u5bf9\u8bdd\u3002<\/p>\n<p>Val\u8c08\u5230\u4e86\u5b58\u50a8\u5668\u548c\u5149\u5b50\u4e92\u8fde\u9886\u57df\u7684\u6f5c\u5728\u673a\u4f1a\uff0c\u5bf9\u534a\u5bfc\u4f53\u8bbe\u5907\u516c\u53f8\u5219\u76f8\u5bf9\u8c28\u614e\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cJim\u76ee\u524d\u5bf9\u534a\u5bfc\u4f53\u516c\u53f8\u5e76\u65e0\u7a7a\u5934\u4ed3\u4f4d\uff0c\u4ed6\u7684\u6000\u7591\u4e3b\u8981\u96c6\u4e2d\u5728\u4ee5Core Weave\u4e3a\u4ee3\u8868\u7684\u65b0\u5174\u4e91\u670d\u52a1\u5546\uff0c\u4ee5\u53ca\u53ef\u80fd\u88abAI\u6dd8\u6c70\u7684\u4f20\u7edf\u6570\u636e\u4e2d\u5fc3\u8fd0\u8425\u5546\u4e0a\u3002<\/p>\n<p>\u518d\u6b21\u611f\u8c22Macro Minds\u3002\u7b80\u4ecb\u4e2d\u5c06\u9644\u6709\u6350\u6b3e\u94fe\u63a5\uff0c\u652f\u6301\u4eca\u5e74\u53d7\u76ca\u7684\u4e09\u5bb6\u516c\u76ca\u673a\u6784\uff1aNYC First\u3001Opportunity Music Project\u548c100 Women in Finance\u3002<\/p>\n<p>\u8fc7\u53bb\u4e00\u5e74\uff0c\u6211\u5728Monetary Matters\u8282\u76ee\u4e2d\u6301\u7eed\u5206\u4eab\u4e86\u4e00\u4e2a\u5224\u65ad\uff1a\u534a\u5bfc\u4f53\u76c8\u5229\u5c06\u56e0AI\u8d44\u672c\u5f00\u652f\u800c\u5927\u5e45\u63d0\u5347\u3002\u8fd9\u4e00\u5224\u65ad\u83b7\u5f97\u4e86Satrina\u3001Angus Shillington\u4ee5\u53ca\u4f17\u591a\u5609\u5bbe\u7684\u652f\u6301\u3002\u6211\u76ee\u524d\u4ecd\u7136\u8ba4\u4e3a\u534a\u5bfc\u4f53\u677f\u5757\u6574\u4f53\u4e0a\u5b58\u5728\u505a\u591a\u673a\u4f1a\uff0c\u5e76\u6301\u6709\u5e7f\u6cdb\u7684\u534a\u5bfc\u4f53\u655e\u53e3\u3002\u5c3d\u7ba1\u6211\u5728Marvell\u548cTeradyne\u7684\u770b\u6da8\u671f\u6743\u4e0a\u53d6\u5f97\u4e86\u4e00\u4e9b\u6536\u76ca\uff0c\u4f46\u5982\u679c\u8ba9\u6211\u8bf4\u51fa\u5f53\u4e0b\u6700\u770b\u597d\u7684\u4e00\u4e2a\u540d\u5b57\uff0c\u6211\u4f1a\u8bf4\uff1aNvidia\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c\u6211\u4e5f\u5bf9\u4e00\u4e9b\u98ce\u9669\u4fdd\u6301\u8b66\u60d5\uff1a\u8fd9\u53ef\u80fd\u662f\u4e00\u573a\u5de8\u5927\u7684\u6ce1\u6cab\uff0c\u8fd9\u4e9b\u5929\u91cf\u6295\u8d44\u7684\u56de\u62a5\u6216\u8bb8\u96be\u4ee5\u5b9e\u73b0\u3002\u5173\u4e8e\u5f53\u524d\u7684\u884c\u4e1a\u683c\u5c40\u2014\u2014\u534a\u5bfc\u4f53\u8d5a\u5f97\u76c6\u6ee1\u94b5\u6ee1\uff0c\u800c\u6a21\u578b\u516c\u53f8\u6301\u7eed\u5de8\u4e8f\u2014\u2014\u8fd9\u79cd\u5931\u8861\u5c40\u9762\u7ec8\u7a76\u65e0\u6cd5\u957f\u671f\u6301\u7eed\uff0c\u4f46\u6211\u8ba4\u4e3a\u5b83\u53ef\u80fd\u4f1a\u5ef6\u7eed\u4e00\u5e74\u4e43\u81f3\u66f4\u957f\u65f6\u95f4\u3002\u6280\u672f\u7e41\u8363\u5468\u671f\u5f80\u5f80\u6bd4\u5927\u591a\u6570\u4eba\u9884\u671f\u7684\u66f4\u4e3a\u6301\u4e45\u3002\u5982\u679c\u4f60\u95ee\u6211\u7a76\u7adf\u770b\u591a\u8fd8\u662f\u770b\u7a7a\u534a\u5bfc\u4f53\uff0c\u7b54\u6848\u5728\u6b64\uff1a\u5373\u4fbf\u8fd9\u662f\u4e00\u573a\u6ce1\u6cab\u3001\u5373\u4fbf\u7a7a\u5934\u6700\u7ec8\u662f\u5bf9\u7684\uff0c\u6b64\u65f6\u6b64\u523b\u76f4\u63a5\u505a\u7a7a\u534a\u5bfc\u4f53\uff0c\u672a\u5fc5\u662f\u503c\u5f97\u627f\u62c5\u7684\u98ce\u9669\u3002<\/p>\n<p>\u8865\u5145\u4e00\u70b9\u6765\u81ea\u7a7a\u5934\u4fa7\u7684\u770b\u6cd5\uff1aMeta\u7684AI\u6218\u7565\u5728\u6211\u770b\u6765\u903b\u8f91\u4e0d\u901a\uff0c\u867d\u7136\u6211\u76ee\u524d\u5e76\u672a\u505a\u7a7aMeta\uff0c\u4f46\u8bf7\u628a\u6211\u5f52\u5165\u5bf9\u8fd9\u53ea\u80a1\u7968\u4fdd\u6301\u60b2\u89c2\u7684\u90a3\u4e00\u65b9\u3002\u6211\u4e5f\u610f\u8bc6\u5230\u8fd9\u4e2a\u89c2\u70b9\u6b63\u5728\u9010\u6e10\u6210\u4e3a\u5e02\u573a\u5171\u8bc6\uff0c\u56e0\u6b64\u53ef\u80fd\u5e76\u4e0d\u4e00\u5b9a\u6b63\u786e\u3002<\/p>\n<p>\u8bf4\u5230\u7a7a\u5934\uff0c\u6211\u521a\u521a\u91c7\u8bbf\u4e86\u5bf9AI\u548c\u6570\u636e\u4e2d\u5fc3\u8d44\u672c\u5f00\u652f\u6700\u4e3a\u76f4\u8a00\u4e0d\u8bb3\u7684\u6000\u7591\u8bba\u8005Ed Zitron\uff0c\u8be5\u91c7\u8bbf\u5c06\u4e8e6\u670822\u65e5\uff08\u5468\u65e5\uff09\u4e0a\u7ebf\uff0c\u656c\u8bf7\u671f\u5f85\u3002\u4ed6\u638c\u63e1\u4e86\u81f3\u5c11\u4e00\u5bb6\u6a21\u578b\u516c\u53f82025\u5e74\u8fd0\u8425\u4e8f\u635f\u7684\u8be6\u7ec6\u6570\u636e\uff0c\u90a3\u4e2a\u6570\u5b57\u89e6\u76ee\u60ca\u5fc3\uff0c\u4f60\u7edd\u4e0d\u4f1a\u60f3\u9519\u8fc7\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u5728Monetary Matters\u8282\u76ee\u4e2d\uff0cMax\u548c\u6211\u8ba1\u5212\u6301\u7eed\u9080\u8bf7\u591a\u7a7a\u53cc\u65b9\u5609\u5bbe\uff0c\u56f4\u7ed5AI\u5c55\u5f00\u6df1\u5ea6\u8ba8\u8bba\u2014\u2014\u6db5\u76d6\u5927\u8bed\u8a00\u6a21\u578b\u516c\u53f8\u3001\u8d85\u5927\u89c4\u6a21\u4e91\u670d\u52a1\u5546\u3001\u65b0\u5174\u4e91\u670d\u52a1\u5546\u4ee5\u53ca\u534a\u5bfc\u4f53\u7b49\u5404\u4e2a\u7ef4\u5ea6\u3002\u65e0\u8bba\u4f60\u6301\u4f55\u79cd\u89c2\u70b9\uff0c\u6211\u90fd\u5e0c\u671b\u4f60\u80fd\u5728\u8fd9\u91cc\u627e\u5230\u6709\u4ef7\u503c\u3001\u6709\u4f9d\u636e\u7684\u4fe1\u606f\u3002<\/p>\n<p>\u6211\u5bf9\u8fd9\u8f6e\u7e41\u8363\u7a76\u7adf\u80fd\u6301\u7eed\u591a\u4e45\u7684\u5224\u65ad\u7f6e\u4fe1\u5ea6\u5e76\u4e0d\u9ad8\u3002\u4f46\u6709\u4e00\u4ef6\u4e8b\u6211\u975e\u5e38\u786e\u4fe1\uff1a\u7f8e\u56fd\u7ecf\u6d4e\uff0c\u5c24\u5176\u662f\u7f8e\u56fd\u80a1\u5e02\uff0c\u6b63\u65e5\u76ca\u6210\u4e3a\u4e00\u573a\u9ad8\u5ea6\u96c6\u4e2d\u7684\u62bc\u6ce8\u2014\u2014\u62bc\u6ce8AI\u80fd\u5426\u5151\u73b0\u627f\u8bfa\u3002\u5982\u679c\u8d4c\u5bf9\u4e86\uff0c\u6536\u76ca\u5c06\u662f\u5de8\u5927\u7684\uff1b\u5982\u679c\u8d4c\u9519\u4e86\uff0c\u4ee3\u4ef7\u540c\u6837\u60e8\u70c8\u3002<\/p>\n<p>\u8bf7\u8ba2\u9605Monetary Matters\u7684YouTube\u9891\u9053\uff0c\u5728Apple Podcast\u548cSpotify\u4e0a\u4e3a\u6211\u4eec\u7559\u4e0b\u8bc4\u5206\u548c\u8bc4\u8bba\uff0c\u5173\u6ce8Max\u7684\u64ad\u5ba2Other People's Money\uff0c\u4e5f\u522b\u5fd8\u4e86\u6536\u770b\u6211\u4eec\u6bcf\u5929\u4e1c\u90e8\u65f6\u95f4\u4e0b\u5348\u56db\u70b9\u81f3\u4e94\u70b9\u7684\u76f4\u64ad\u8282\u76eeMonitoring the Situation\u3002\u4e0b\u6b21\u518d\u89c1\u3002<\/p>\n<p><strong>Jim Chanos\uff1a<\/strong><\/p>\n<p>\u8c22\u8c22\uff0c\u5c31\u5230\u8fd9\u91cc\u3002<\/p>\n<p>(\u6765\u6e90\uff1a\u65b0\u6d6a\u79d1\u6280)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5f53AI\u6d6a\u6f6e\u4e0b\u7684\u201c\u5356\u6c34\u4eba\u201d\u8d5a\u5f97\u76c6\u6ee1\u94b5\u6ee1\u65f6\uff0c\u7b97\u529b\u57fa\u7840\u8bbe\u65bd\u7684\u771f\u5b9e\u6295\u8d44\u56de\u62a5\u7387\u7a76\u7adf\u662f\u4e00\u5730\u9e21\u6bdb\uff0c\u8fd8\u662f\u53d7\u5236\u4e8e\u7269\u7406\u6781\u9650\u7684\u957f\u671f\u5370 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":[],"categories":[6],"tags":[57,378,59,164,266,62,162,148,368,142,82,28,280,253,80,93,241,22,78,157,325,367,29,339,238,42,41,231,192,376,312],"views":5,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/802597"}],"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=802597"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/802597\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=802597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=802597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=802597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}