{"id":620209,"date":"2026-02-11T20:33:43","date_gmt":"2026-02-12T04:33:43","guid":{"rendered":"https:\/\/nai500.com\/?p=620209"},"modified":"2026-02-11T20:33:43","modified_gmt":"2026-02-12T04:33:43","slug":"%e8%bb%9f%e4%bb%b6%e8%82%a1%e9%81%ad%e9%81%87%e9%81%8e%e5%ba%a6%e6%8b%8b%e5%94%ae%e6%a9%9f%e6%a7%8b%e7%a8%b1%e4%bd%8e%e5%83%b9%e8%b2%b7%e5%85%a5%e6%a9%9f%e6%9c%83%e6%b5%ae%e7%8f%be","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/02\/%e8%bb%9f%e4%bb%b6%e8%82%a1%e9%81%ad%e9%81%87%e9%81%8e%e5%ba%a6%e6%8b%8b%e5%94%ae%e6%a9%9f%e6%a7%8b%e7%a8%b1%e4%bd%8e%e5%83%b9%e8%b2%b7%e5%85%a5%e6%a9%9f%e6%9c%83%e6%b5%ae%e7%8f%be\/","title":{"rendered":"\u8edf\u4ef6\u80a1\u906d\u9047\u904e\u5ea6\u62cb\u552e\uff0c\u6a5f\u69cb\u7a31\u4f4e\u50f9\u8cb7\u5165\u6a5f\u6703\u6d6e\u73fe"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">\u5e02\u5834\u5c08\u696d\u4eba\u58eb\u8d8a\u4f86\u8d8a\u8a8d\u70ba\uff0c\u904e\u53bb\u5e7e\u5468\u8edf\u4ef6\u80a1\u906d\u53d7\u7684\u6253\u64ca\u904e\u5927\uff0c\u5728\u904e\u5ea6\u7684\u62cb\u552e\u6f6e\u4e2d\u80a1\u50f9\u66b4\u8dcc\u7684\u80a1\u7968\u51fa\u73fe\u4e86\u65b0\u7684\u4f4e\u50f9\u8cb7\u5165\u6a5f\u6703\u3002\u6469\u6839\u5927\u901a\u7684\u7b56\u7565\u5e2b\u5011\u5728\u9031\u4e8c\u767c\u7d66\u5ba2\u6236\u7684\u4e00\u4efd\u5831\u544a\u4e2d\u5beb\u9053\uff0c\u57fa\u65bc\u201c\u5c0d\u4eba\u5de5\u667a\u80fd\u985b\u8986\u6027\u8b8a\u9769\u7684\u904e\u5ea6\u60b2\u89c0\u9810\u671f\u4ee5\u53ca\u7a69\u5065\u7684\u57fa\u672c\u9762\u201d\uff0c\u8edf\u4ef6\u5e02\u5834\u5b58\u5728\u53cd\u5f48\u7684\u6f5b\u529b\u3002\u8207\u6b64\u540c\u6642\uff0c\u9ad8\u76db\u9996\u5e2d\u57f7\u884c\u5b98\u5927\u885b\u00b7\u6240\u7f85\u9580\u9031\u4e8c\u8868\u793a\uff0c\u4ed6\u8a8d\u70ba\u6b64\u6b21\u62cb\u552e\u201c\u7bc4\u570d\u904e\u5ee3\u201d\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Janney Montgomery Scott\u9996\u5e2d\u6295\u8cc7\u7b56\u7565\u5e2bMark Luschini\u8868\u793a\uff1a\u201c\u4eba\u5011\u73fe\u5728\u4f3c\u4e4e\u8a8d\u70ba\u8edf\u4ef6\u50f9\u683c\u6703\u76f4\u7dda\u4e0b\u8dcc\u81f3\u96f6\u3002\u9019\u7a2e\u55ae\u908a\u4ea4\u6613\u5982\u6b64\u660e\u986f\uff0c\u53cd\u800c\u53ef\u80fd\u51fa\u73fe\u53cd\u5f48\u884c\u60c5\u3002\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u9019\u4e9b\u80a1\u7968\u76ee\u524d\u8655\u65bc\u6b77\u53f2\u4f4e\u4f4d\u3002\u6a19\u666e\u5317\u7f8e\u8edf\u4ef6\u6307\u6578\u7684\u9810\u671f\u5e02\u76c8\u7387\u4e0a\u5468\u9996\u6b21\u8dcc\u783420\u500d\u3002\u76ee\u524d\u8a72\u6307\u6578\u572823\u500d\u5de6\u53f3\uff0c\u96a8\u8457\u80a1\u7968\u6709\u6240\u53cd\u5f48\uff0c\u4f46\u4ecd\u9060\u4f4e\u65bc\u517634\u500d\u7684\u9577\u671f\u5e73\u5747\u5e02\u76c8\u7387\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u5091\u5bcc\u745e\u5c0d\u5176\u8986\u84cb\u7684 64 \u53ea\u8edf\u4ef6\u80a1\u9032\u884c\u4e86\u7814\u7a76\uff0c\u767c\u73fe\u201c42% \u7684\u80a1\u7968\u4ea4\u6613\u50f9\u683c\u8655\u65bc\u6216\u63a5\u8fd1\u5176\u6b77\u53f2\u4f4e\u4f30\u503c\u201d\uff0c\u4ee5Brent Thill \u70ba\u9996\u7684\u5206\u6790\u5e2b\u5728\u5468\u65e5\u7d66\u5ba2\u6236\u7684\u4e00\u4efd\u5831\u544a\u4e2d\u5beb\u9053\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u5091\u5bcc\u745e\u80a1\u7968\u4ea4\u6613\u90e8\u9580\u7684Michael Toomey\u8868\u793a\uff1a\u201c\u6211\u8a8d\u70ba\u8edf\u4ef6\u80a1\u5373\u5c07\u8fce\u4f86\u4e00\u6ce2\u5f37\u52c1\u53cd\u5f48\u3002\u201d BTIG\u7684\u6280\u8853\u4ea4\u6613\u54e1\u4e5f\u8868\u9054\u4e86\u985e\u4f3c\u7684\u89c0\u9ede\uff0c\u4ed6\u5011\u5728\u4e0a\u5468\u7684\u4e00\u4efd\u5831\u544a\u4e2d\u5beb\u9053\uff0c\u8edf\u4ef6\u80a1\u201c\u6b63\u8655\u65bc\u5d29\u6f70\u908a\u7de3\uff0c\u61c9\u8a72\u6703\u5728\u9019\u88e1\u89f8\u53ca\u6230\u8853\u4f4e\u9ede\u3002\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u53cd\u5f48\u4f3c\u4e4e\u5df2\u7d93\u958b\u59cb\u3002\u4e00\u96bb\u8ffd\u8e64\u8edf\u4ef6\u884c\u696d\u7684\u3001\u5099\u53d7\u95dc\u6ce8\u7684ETF\u57281\u670826\u65e5\u81f32\u67084\u65e5\u9023\u7e8c\u516b\u500b\u4ea4\u6613\u65e5\u4e0b\u8dcc15% \uff0c\u4f46\u6b64\u5f8c\u53cd\u5f48\u4e867.2%\u3002\u64daVanda Research\u7a31\uff0c\u8a72ETF\u7684\u6563\u6236\u6295\u8cc7\u8005\u8cb7\u76e4\u201c\u5275\u4e0b\u7d00\u9304\u201d\uff0cVanda Research\u5c07\u5176\u63cf\u8ff0\u70ba\u201c\u5728\u6211\u5011\u6578\u64da\u96c6\u4e2d\u89c0\u5bdf\u5230\u7684\u79d1\u6280\u80a1\uff0c\u5c24\u5176\u662f\u8edf\u4ef6\u80a1\u4e2d\uff0c\u6563\u6236\u9022\u4f4e\u8cb7\u5165\u6700\u70ba\u7a4d\u6975\u7684\u6848\u4f8b\u4e4b\u4e00\u201d\u3002<\/span><\/p>\n<p class=\"p3\"><span class=\"s2\">\u5118\u7ba1\u7c60\u7f69\u5728\u8a72\u884c\u696d\u7684\u4e0d\u78ba\u5b9a\u6027\u78ba\u5be6\u5b58\u5728\uff0c\u4f46\u62cb\u552e\u6f6e\u5982\u6b64\u4e4b\u5927\uff0c\u4ee5\u81f3\u65bc\u8a31\u591a\u539f\u672c\u88ab\u9810\u671f\u70ba\u9577\u671f\u8d0f\u5bb6\u7684\u516c\u53f8\u4e5f\u672a\u80fd\u5e78\u514d\u3002\u5e02\u5834\u5c08\u5bb6\u6700\u5e38\u63d0\u53ca\u7684\u516c\u53f8\u5305\u62ec\uff1a<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=MSFT\"><span class=\"s3\">\u5fae\u8edf(MSFT.US)<\/span><\/a>\u3001<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=SNOW\"><span class=\"s3\">Snowflake(SNOW.US)<\/span><\/a>\u3001<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=NOW\"><span class=\"s3\">ServiceNow(NOW.US)<\/span><\/a>\u3001<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=CRM\"><span class=\"s3\">\u8cfd\u5bcc\u6642(CRM.US)<\/span><\/a>\u548c<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=PLTR\"><span class=\"s3\">Palantir Technologies(PLTR.US)<\/span><\/a>\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u6578\u64da\u5206\u6790\u8edf\u4ef6\u516c\u53f8 Snowflake\u5728 1 \u6708 29 \u65e5\u81f3 2 \u6708 5 \u65e5\u77ed\u77ed\u516d\u500b\u4ea4\u6613\u65e5\u5167\u80a1\u50f9\u4e0b\u8dcc\u4e86 27%\u3002\u7136\u800c\uff0c\u8a72\u516c\u53f8\u5728\u4eba\u5de5\u667a\u80fd\u751f\u614b\u7cfb\u7d71\u4e2d\u4f54\u64da\u8457\u6709\u5229\u5730\u4f4d\u3002\u4e0a\u5468\uff0cSnowflake \u8207 OpenAI\u7c3d\u7f72\u4e86\u4e00\u9805\u50f9\u503c 2 \u5104\u7f8e\u5143\u7684\u591a\u5e74\u5408\u4f5c\u5354\u8b70\uff0c\u4e26\u5728\u53bb\u5e74 12 \u6708\u8207 Anthropic PBC \u9054\u6210\u4e86\u985e\u4f3c\u7684\u5354\u8b70\u3002Thill \u5728 2 \u6708 5 \u65e5\u81f4\u5ba2\u6236\u7684\u5831\u544a\u4e2d\u5beb\u9053\uff0cSnowflake \u662f\u201c\u6240\u6709\u516c\u5171\u8edf\u4ef6\u9818\u57df\u4e2d\u6700\u660e\u986f\u7684 AI \u53d7\u76ca\u8005\u4e4b\u4e00\u201d\u3002\u745e\u9280\u3001Loop Capital\u3001Wedbush\u3001\u7f8e\u570b\u9280\u884c\u548c DA Davidson \u7b49\u6a5f\u69cb\u4e5f\u5c0d Snowflake \u7d66\u4e88\u4e86\u9ad8\u5ea6\u8a55\u50f9\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Boston Partners\u5168\u7403\u5e02\u5834\u7814\u7a76\u7e3d\u76e3Michael Mullaney\u6ce8\u610f\u5230\u8cfd\u5bcc\u6642\u3001ServiceNow\u548cWorkday Inc.(WDAY.US)\u7684\u75b2\u8edf\u8868\u73fe\u3002\u4ed6\u8868\u793a\uff0c\u5982\u679c\u4ed6\u95dc\u6ce8\u7684\u662f\u6210\u9577\u80a1\u800c\u975e\u50f9\u503c\u80a1\uff0c\u4ed6\u6703\u5728\u9019\u4e9b\u80a1\u7968\u4e0b\u8dcc\u6642\u8cb7\u5165\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Datadog(DDOG.US)\u4e5f\u53d7\u5230\u4e86\u63d0\u53ca\uff0c\u8a72\u516c\u53f8\u80a1\u50f9\u9031\u4e8c\u98c6\u5347 14% \uff0c\u5275\u4e0b\u81ea 11 \u6708\u4ee5\u4f86\u7684\u6700\u5927\u6f32\u5e45\uff0c\u6b64\u524d\u8a72\u516c\u53f8\u516c\u4f48\u4e86\u5f37\u52c1\u7684\u696d\u7e3e\u4e26\u63d0\u4f9b\u4e86\u597d\u65bc\u9810\u671f\u7684\u6536\u5165\u524d\u666f\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5e02\u5834\u5c08\u696d\u4eba\u58eb\u8d8a\u4f86\u8d8a\u8a8d\u70ba\uff0c\u904e\u53bb\u5e7e\u5468\u8edf\u4ef6\u80a1\u906d\u53d7\u7684\u6253\u64ca\u904e\u5927\uff0c\u5728\u904e\u5ea6\u7684\u62cb\u552e\u6f6e\u4e2d\u80a1\u50f9\u66b4\u8dcc\u7684\u80a1\u7968\u51fa\u73fe\u4e86\u65b0\u7684\u4f4e\u50f9\u8cb7\u5165\u6a5f\u6703\u3002\u6469 [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":612533,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426],"tags":[2416,1788,1677,574],"class_list":["post-620209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","tag-u-s-stocks-zh-hant","tag-1788","tag-technology-zh-hant","tag-574","sectors-financial-products-zh-hant","sectors-technology-zh-hant","locations-us-zh-hant","exchange-nyse-zh-hant"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/620209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=620209"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/620209\/revisions"}],"predecessor-version":[{"id":620212,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/620209\/revisions\/620212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/612533"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=620209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=620209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=620209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}