{"id":649375,"date":"2026-07-09T06:35:26","date_gmt":"2026-07-09T13:35:26","guid":{"rendered":"https:\/\/nai500.com\/?p=649375"},"modified":"2026-07-09T06:35:26","modified_gmt":"2026-07-09T13:35:26","slug":"%e6%9c%a8%e5%a4%b4%e5%a7%90%e5%8a%a0%e4%bb%93%e3%80%81munster-%e5%8a%9b%e6%8c%ba%ef%bc%9a%e5%9b%9e%e6%92%a4-26-%e7%9a%84-spacex-%e5%8f%af%e4%bb%a5%e5%85%a5%e6%89%8b%e4%ba%86%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2026\/07\/%e6%9c%a8%e5%a4%b4%e5%a7%90%e5%8a%a0%e4%bb%93%e3%80%81munster-%e5%8a%9b%e6%8c%ba%ef%bc%9a%e5%9b%9e%e6%92%a4-26-%e7%9a%84-spacex-%e5%8f%af%e4%bb%a5%e5%85%a5%e6%89%8b%e4%ba%86%ef%bc%9f\/","title":{"rendered":"\u6728\u5934\u59d0\u52a0\u4ed3\u3001Munster \u529b\u633a\uff1a\u56de\u64a4 26% \u7684 SpaceX \u53ef\u4ee5\u5165\u624b\u4e86\uff1f"},"content":{"rendered":"<p>\u5b8c\u6210\u5168\u7403\u6700\u5927 IPO \u4e0d\u8db3\u4e00\u6708\uff0c<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=SPCX\">SpaceX\uff08NASDAQ: SPCX\uff09<\/a>\u80a1\u4ef7\u5df2\u4ece\u4e0a\u5e02\u70ed\u6f6e\u5feb\u901f\u8dcc\u5165\u56de\u8c03\u901a\u9053\u3002\u622a\u81f3 7 \u6708 8 \u65e5\u7f8e\u80a1\u6536\u76d8\uff0c\u516c\u53f8\u80a1\u4ef7\u62a5 148.30 \u7f8e\u5143\uff0c\u8f83 6 \u6708\u4e2d\u65ec 202 \u7f8e\u5143\u7684\u76d8\u4e2d\u9ad8\u70b9\u7d2f\u8ba1\u56de\u64a4\u7ea6 26.5%\uff1b\u5373\u4fbf\u5728\u6b63\u5f0f\u7eb3\u5165\u7eb3\u65af\u8fbe\u514b 100 \u6307\u6570\u7684\u5229\u597d\u843d\u5730\u5f53\u65e5\uff0c\u80a1\u4ef7\u4ecd\u5927\u8dcc\u8d85 6%\uff0c\u9996\u5ea6\u8dcc\u7834 150 \u7f8e\u5143\u6574\u6570\u5173\u53e3\u3002<\/p>\n<p>\u4e00\u8fb9\u662f\u80a1\u4ef7\u6301\u7eed\u8d70\u5f31\uff0c\u4e00\u8fb9\u662f\u660e\u661f\u8d44\u672c\u4e0e\u884c\u4e1a\u5206\u6790\u5e08\u9f50\u58f0\u770b\u591a\u3002\u201c\u6728\u5934\u59d0\u201d \u51ef\u897f\u30fb\u4f0d\u5fb7\uff08Cathie Wood\uff09\u4e09\u5ea6\u9022\u4f4e\u52a0\u4ed3\uff0c\u77e5\u540d\u79d1\u6280\u6295\u8d44\u4eba\u5409\u6069\u30fb\u8499\u65af\u7279\uff08Gene Munster\uff09\u9ad8\u8c03\u63d0\u51fa \u201c\u4e3b\u6743 AI\u201d \u903b\u8f91\u5e76\u5c06\u5176\u5217\u4e3a\u6838\u5fc3\u79d1\u6280\u6301\u4ed3\u3002\u591a\u7a7a\u535a\u5f08\u4e4b\u4e0b\uff0c\u56de\u64a4\u540e\u7684 SpaceX \u662f\u5426\u5df2\u5230\u5e03\u5c40\u65f6\u70b9\uff0c\u6210\u4e3a\u5f53\u524d\u7f8e\u80a1\u5e02\u573a\u7684\u7126\u70b9\u8bae\u9898\u3002<\/p>\n<h2>\u591a\u5934\u62bc\u6ce8\uff1a\u660e\u661f\u8d44\u672c\u8d8a\u8dcc\u8d8a\u4e70 \u4e3b\u6743 AI \u903b\u8f91\u80cc\u4e66<\/h2>\n<p>ARK Invest \u521b\u59cb\u4eba\u4f0d\u5fb7\u6210\u4e3a\u672c\u8f6e\u4e0b\u8dcc\u4e2d\u6700\u575a\u5b9a\u7684\u591a\u5934\u4fe1\u53f7\u3002\u636e ARK \u6700\u65b0\u8c03\u4ed3\u6570\u636e\uff0c7 \u6708 7 \u65e5\u4f0d\u5fb7\u901a\u8fc7\u65d7\u8230\u521b\u65b0\u57fa\u91d1 ARKK \u4e70\u5165 4.42 \u4e07\u80a1 SpaceX\uff0c\u6d89\u8d44\u7ea6 709 \u4e07\u7f8e\u5143\uff0c\u8fd9\u5df2\u662f\u516c\u53f8\u4e0a\u5e02\u4ee5\u6765\u4f0d\u5fb7\u7684\u7b2c\u4e09\u6b21\u9022\u4f4e\u589e\u6301\u52a8\u4f5c\u3002\u622a\u81f3\u76ee\u524d\uff0cSpaceX \u5df2\u8dfb\u8eab ARKK \u7b2c\u4e03\u5927\u91cd\u4ed3\u80a1\uff0c\u6301\u4ed3\u5360\u6bd4\u7ea6 4%\uff0c\u5bf9\u5e94\u5e02\u503c\u8fd1 2.66 \u4ebf\u7f8e\u5143\u3002<\/p>\n<p>\u4e3a\u96c6\u4e2d\u62bc\u6ce8\u592a\u7a7a\u79d1\u6280\u8d5b\u9053\uff0c\u4f0d\u5fb7\u8fd1\u671f\u6301\u7eed\u51cf\u6301 AMD\u3001\u963f\u91cc\u5df4\u5df4\u7b49\u6210\u719f\u79d1\u6280\u80a1\u817e\u632a\u4ed3\u4f4d\u3002\u516c\u53f8\u56e2\u961f\u5224\u65ad\uff0c\u4f9d\u6258 AI\u3001\u8f68\u9053\u6570\u636e\u4e2d\u5fc3\u4e0e\u822a\u5929\u4e1a\u52a1\u7684\u534f\u540c\u6548\u5e94\uff0cSpaceX \u5728\u4e50\u89c2\u60c5\u666f\u4e0b 2030 \u5e74\u4f01\u4e1a\u4f30\u503c\u53ef\u8fbe 3.1 \u4e07\u4ebf\u7f8e\u5143\uff0c\u8f83\u5f53\u524d\u4ecd\u6709\u8d85 60% \u7684\u4e0a\u884c\u7a7a\u95f4\u3002<\/p>\n<p>Deepwater Asset Management 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\u8868\u793a\uff0c\u8fd9\u79cd\u4ece\u7845\u7247\u5236\u9020\u5230\u6570\u636e\u4f20\u8f93\u518d\u5230\u6a21\u578b\u8fd0\u7b97\u7684\u5168\u94fe\u8def\u638c\u63a7\uff0c\u8ba9 SpaceX \u5f7b\u5e95\u6446\u8131\u7b2c\u4e09\u65b9\u4ea7\u4e1a\u94fe\u74f6\u9888\uff0c\u662f Alphabet\u3001OpenAI \u7b49\u5934\u90e8 AI \u4f01\u4e1a\u90fd\u65e0\u6cd5\u590d\u523b\u7684\u58c1\u5792\uff0c\u7406\u5e94\u6210\u4e3a\u6295\u8d44\u8005\u7684\u6838\u5fc3\u79d1\u6280\u6301\u4ed3\u3002<\/p>\n<h2>\u4e09\u91cd\u9690\u5fe7\uff1a\u4f9b\u7ed9\u3001\u4f30\u503c\u4e0e\u843d\u5730\u98ce\u9669\u5171\u632f<\/h2>\n<p>\u5c3d\u7ba1\u957f\u671f\u53d9\u4e8b\u5177\u5907\u60f3\u8c61\u529b\uff0c\u4f46\u591a\u6570\u5e02\u573a\u89c2\u70b9\u8ba4\u4e3a\u5f53\u4e0b\u5e76\u975e\u5165\u573a\u826f\u673a\uff0c\u9650\u552e\u89e3\u7981\u3001\u9ad8\u4f30\u503c\u6ce1\u6cab\u3001\u6280\u672f\u843d\u5730\u4e0d\u786e\u5b9a\u6027\u4e09\u91cd\u538b\u529b\uff0c\u4ecd\u5c06\u6301\u7eed\u538b\u5236\u80a1\u4ef7\u8868\u73b0\u3002<\/p>\n<p>\u6700\u76f4\u63a5\u7684\u77ed\u671f\u98ce\u9669\u6765\u81ea\u9650\u552e\u80a1\u89e3\u7981\u7684\u4f9b\u7ed9\u51b2\u51fb\u3002\u672c\u6b21 IPO \u4ec5\u53d1\u884c 5.55 \u4ebf\u80a1\uff0c\u5bf9\u5e94\u603b\u80a1\u672c 131 \u4ebf\u80a1\uff0c\u5f53\u524d\u516c\u4f17\u6d41\u901a\u76d8\u5360\u6bd4\u4e0d\u8db3 5%\uff0c\u5176\u4f59 95% \u80a1\u4efd\u7531\u5185\u90e8\u4eba\u58eb\u4e0e\u5458\u5de5\u6301\u6709\u5e76\u5904\u4e8e\u9501\u5b9a\u671f\u3002\u6309\u65f6\u95f4\u8868\uff0c\u9996\u6279\u7ea6 9.11 \u4ebf\u80a1\u65e9\u671f\u91ca\u653e\u80a1\u4efd\u6700\u5feb\u5c06\u4e8e 7 \u6708\u5e95\u81f3 8 \u6708\u521d\uff08\u4e8c\u5b63\u5ea6\u8d22\u62a5\u53d1\u5e03\u540e\uff09\u89e3\u7981\uff0c\u5c4a\u65f6\u6d41\u901a\u76d8\u5c06\u76f4\u63a5\u7ffb\u500d\u81f3 15 \u4ebf\u80a1\uff1b\u540e\u7eed\u591a\u6279\u6b21\u89e3\u7981\u5c06\u6301\u7eed\u81f3 10 \u6708\u5e95\uff0c\u6700\u7ec8\u6d41\u901a\u89c4\u6a21\u5c06\u7a81\u7834 30 \u4ebf\u80a1\uff0c\u8f83\u5f53\u524d\u6269\u5bb9\u8d85 5 \u500d\u3002\u4f9b\u9700\u683c\u5c40\u7684\u5267\u70c8\u53d8\u5316\uff0c\u5927\u6982\u7387\u5e26\u6765\u96c6\u4e2d\u629b\u538b\u3002<\/p>\n<p>\u5386\u53f2\u6570\u636e\u540c\u6837\u4e3a\u5de8\u578b IPO \u7684\u540e\u5e02\u6572\u54cd\u8b66\u949f\u3002\u7edf\u8ba1\u7f8e\u80a1 15 \u5bb6\u6700\u9ad8\u5e02\u503c IPO \u6807\u7684\u8868\u73b0\uff0c\u4e2a\u80a1\u4e0a\u5e02\u9996\u5e74\u5e73\u5747\u6700\u5927\u56de\u64a4\u8fbe 23%\uff0c\u4e00\u5e74\u540e\u80a1\u4ef7\u5e73\u5747\u8f83\u53d1\u884c\u4ef7\u4e0b\u8dcc 2%\uff0cMeta\u3001Uber\u3001UiPath \u7b49\u660e\u661f\u79d1\u6280\u80a1\u9996\u5e74\u6700\u5927\u56de\u64a4\u5747\u8d85 50%\u3002\u82e5\u9075\u5faa\u5386\u53f2\u89c4\u5f8b\u63a8\u6f14\uff0cSpaceX \u80a1\u4ef7\u6216\u5728\u4e0a\u5e02\u9996\u5e74\u4e0b\u63a2\u81f3 104 \u7f8e\u5143\uff0c\u8f83\u5f53\u524d\u4ef7\u683c\u4ecd\u6709\u7ea6 30% \u7684\u4e0b\u884c\u7a7a\u95f4\u3002<\/p>\n<p>\u4f30\u503c\u4e0e\u57fa\u672c\u9762\u7684\u80cc\u79bb\u5219\u662f\u66f4\u6df1\u5c42\u7684\u9690\u60a3\u3002\u5f53\u524d SpaceX \u5e02\u9500\u7387\u8d85 100 \u500d\uff0c\u5927\u5e45\u9886\u8dd1\u7eb3\u65af\u8fbe\u514b 100 \u6210\u5206\u80a1\uff0c\u8fdc\u8d85\u79d1\u6280\u884c\u4e1a\u7ea6 9 \u500d\u7684\u5e73\u5747\u6c34\u5e73\u3002\u4e1a\u7ee9\u7aef\uff0c\u516c\u53f8 2025 \u5e74\u51c0\u4e8f\u635f\u8fd1 49 \u4ebf\u7f8e\u5143\uff0c2026 \u5e74\u4e00\u5b63\u5ea6\u8d44\u672c\u5f00\u652f\u8fbe 100 \u4ebf\u7f8e\u5143\uff0c\u63a5\u8fd1\u53bb\u5e74\u5168\u5e74\u7684\u4e09\u5206\u4e4b\u4e00\uff0cStarlink \u5546\u4e1a\u5316\u3001\u8f68\u9053\u6570\u636e\u4e2d\u5fc3\u3001Terafab \u6676\u5706\u5382\u5747\u5904\u4e8e\u9ad8\u5f3a\u5ea6\u6295\u5165\u671f\uff0c\u76c8\u5229\u5151\u73b0\u5468\u671f\u4ecd\u4e0d\u660e\u6717\u3002<\/p>\n<p>\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u5373\u4fbf\u88ab\u89c6\u4e3a\u5229\u597d\u7684\u7eb3\u6307 100 \u5feb\u901f\u7eb3\u5165\u300112 \u5bb6 IPO \u627f\u9500\u5546\u96c6\u4f53\u7ed9\u51fa\u4e70\u5165\u8bc4\u7ea7\u4e5f\u672a\u80fd\u6258\u4f4f\u80a1\u4ef7\u3002\u5e02\u573a\u5206\u6790\u8ba4\u4e3a\uff0c\u6307\u6570\u7eb3\u5165\u7684\u88ab\u52a8\u8d44\u91d1\u4e70\u5165\u9884\u671f\u5df2\u63d0\u524d\u5151\u73b0\uff0c\u53e0\u52a0\u8fd1\u671f\u7eb3\u6307\u6574\u4f53\u8d70\u5f31\uff0c\u5e02\u573a\u60c5\u7eea\u5df2\u4ece\u4e0a\u5e02\u521d\u671f\u7684\u72c2\u70ed\u5feb\u901f\u8f6c\u5411\u8c28\u614e\u3002<\/p>\n<h2>\u7ed3\u8bed<\/h2>\n<p>\u6574\u4f53\u800c\u8a00\uff0cSpaceX \u5728\u822a\u5929\u4e0e AI 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