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\u636e\u8def\u900f\u793e\/CNBC TV18\u901a\u8fc7NAI500\u62a5\u9053\uff0c\u8f6f\u94f6\u7684\u503a\u5238\u53d1\u552e\u9884\u8ba1\u4e8e2026\u5e749\u670824\u65e5\u5b9a\u4ef7\uff0c\u7ed3\u7b97\u65e5\u5b9a\u4e8e2026\u5e749\u670829\u65e5\u3002\u8f6f\u94f6\u5bf9OpenAI\u540e\u7eed\u6295\u8d44\u7684\u7b2c\u4e09\u6279\u9884\u8ba1\u4e8e2026\u5e7410\u67081\u65e5\u5b8c\u6210\u3002\u8fd9\u4e9b\u65e5\u671f\u51e0\u4e4e\u6ca1\u6709\u7ed9\u5e02\u573a\u964d\u6e29\u7559\u4e0b\u65f6\u95f4\u3002\u5982\u679c\u8bf4\u6709\u4ec0\u4e48\u5f71\u54cd\uff0c\u5b83\u4eec\u6784\u6210\u4e86\u5bf9\u6295\u8d44\u8005\u662f\u5426\u613f\u610f\u4ee5\u63a5\u8fd1\u4e24\u4f4d\u6570\u7684\u6536\u76ca\u7387\u627f\u9500AI\u70ed\u6f6e\u4e0b\u4e00\u9636\u6bb5\u7684\u8fd1\u671f\u8003\u9a8c\u3002<\/p>\n
The bigger message is simple: AI is no longer just bid up in stocks and private valuations. It is moving into credit, where the cost of capital is more visible and the risk premium is harder to ignore. SoftBank\u2019s deal makes that shift plain. The AI race is still open for financing. It is just becoming a much more expensive race to run.<\/p>\n","protected":false},"excerpt":{"rendered":"
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