{"id":645073,"date":"2026-06-19T18:25:25","date_gmt":"2026-06-20T01:25:25","guid":{"rendered":"https:\/\/nai500.com\/?p=645073"},"modified":"2026-06-19T18:25:25","modified_gmt":"2026-06-20T01:25:25","slug":"%e8%8b%b1%e5%81%89%e9%81%94%e5%92%8c%e8%8b%b1%e7%89%b9%e7%88%be%e9%83%bd%e6%bc%b2%e5%a4%aa%e5%a4%9a%ef%bc%9f%e5%8d%9a%e9%80%9a%e6%89%8d%e6%98%af%e6%9c%80%e6%9c%89%e6%80%a7%e5%83%b9%e6%af%94%e7%9a%84-a","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2026\/06\/%e8%8b%b1%e5%81%89%e9%81%94%e5%92%8c%e8%8b%b1%e7%89%b9%e7%88%be%e9%83%bd%e6%bc%b2%e5%a4%aa%e5%a4%9a%ef%bc%9f%e5%8d%9a%e9%80%9a%e6%89%8d%e6%98%af%e6%9c%80%e6%9c%89%e6%80%a7%e5%83%b9%e6%af%94%e7%9a%84-a\/","title":{"rendered":"\u82f1\u5049\u9054\u548c\u82f1\u7279\u723e\u90fd\u6f32\u592a\u591a\uff1f\u535a\u901a\u624d\u662f\u6700\u6709\u6027\u50f9\u6bd4\u7684 AI \u82af\u7247\u9f8d\u982d"},"content":{"rendered":"<p>\u672c\u8f2a AI \u7b97\u529b\u884c\u60c5\u4e2d\uff0c\u82f1\u5049\u9054\u3001\u82f1\u7279\u723e\u7b49\u82af\u7247\u9f8d\u982d\u80a1\u50f9\u6301\u7e8c\u6c96\u9ad8\uff0c\u4f30\u503c\u4e0d\u65b7\u62ac\u5347\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u540c\u6a23\u6df1\u5ea6\u53d7\u76ca AI \u7522\u696d\u7206\u767c\u7684<a href=\"https:\/\/nai500.com\/zh-hant\/%e8%82%a1%e7%a5%a8%e6%9f%a5%e8%a9%a2\/?qm_symbol=AVGO\">\u535a\u901a\uff08AVGO\uff09<\/a>\u59cb\u7d42\u8655\u65bc\u5e02\u5834\u805a\u5149\u71c8\u4e4b\u5916\u3002\u6191\u85c9\u5b9a\u5236 AI \u52a0\u901f\u82af\u7247\u7684\u5dee\u7570\u5316\u512a\u52e2\uff0c\u535a\u901a\u7d81\u5b9a\u5168\u7403\u982d\u90e8\u79d1\u6280\u8207 AI \u5ee0\u5546\uff0c\u696d\u7e3e\u589e\u901f\u9818\u8dd1\u884c\u696d\uff0c\u800c\u4f30\u503c\u537b\u8655\u65bc\u4e00\u7dda AI \u82af\u7247\u80a1\u7684\u4f4e\u4f4d\uff0c\u6210\u70ba\u8cfd\u9053\u4e2d\u88ab\u986f\u8457\u4f4e\u4f30\u7684\u6a19\u7684\u3002<\/p>\n<p>\u5e02\u5834\u5c0d AI \u82af\u7247\u7684\u8a0e\u8ad6\u591a\u805a\u7126\u4e8e\u82f1\u5049\u9054\u4e3b\u5c0e\u7684\u901a\u7528 GPU \u8cfd\u9053\uff0c\u5f8c\u8005\u6191\u85c9\u51fa\u8272\u7684\u901a\u7528\u6027\u58df\u65b7\u4e86\u5927\u6a21\u578b\u8a13\u7df4\u5e02\u5834\u3002\u4f46\u535a\u901a\u8d70\u7684\u662f\u5dee\u7570\u5316\u8def\u7dda\uff1a\u7814\u767c\u5b9a\u5236\u5c08\u7528\u96c6\u6210\u96fb\u8def\uff08ASIC\uff09\uff0c\u91dd\u5c0d\u6027\u52a0\u901f AI \u63a8\u7406\u4efb\u52d9\u3002<\/p>\n<p>\u898f\u6a21\u5316\u90e8\u7f72\u5834\u666f\u4e0b\uff0c\u5b9a\u5236 ASIC \u7684\u55ae\u4f4d\u7b97\u529b\u6210\u672c\u986f\u8457\u4f4e\u65bc\u82f1\u5049\u9054\u901a\u7528\u6578\u64da\u4e2d\u5fc3 GPU\uff0c\u662f\u8d85\u5927\u898f\u6a21\u96f2\u5ee0\u5546\u8207 AI \u4f01\u696d\u964d\u672c\u589e\u6548\u3001\u964d\u4f4e\u5c0d\u55ae\u4e00\u4f9b\u61c9\u5546\u4f9d\u8cf4\u7684\u6838\u5fc3\u9078\u64c7\u3002\u76ee\u524d\u8c37\u6b4c\u3001Meta\u3001OpenAI\u3001Anthropic \u7b49\u5168\u7403 AI \u5de8\u982d\u5747\u5df2\u6210\u70ba\u535a\u901a AI \u82af\u7247\u7684\u6838\u5fc3\u5ba2\u6236\uff0c\u5176\u4e2d\u8c37\u6b4c\u7684\u5f35\u91cf\u8655\u7406\u55ae\u5143\uff08TPU\uff09\u4fbf\u7531\u535a\u901a\u806f\u5408\u958b\u767c\u3002<\/p>\n<h2>\u696d\u7e3e\u514c\u73fe\uff1aAI \u696d\u52d9\u5169\u5e74\u885d\u523a\u5343\u5104\u71df\u6536<\/h2>\n<p>\u9ad8\u901f\u589e\u9577\u7684\u8a02\u55ae\u6b63\u5728\u5feb\u901f\u8f49\u5316\u70ba\u696d\u7e3e\u3002\u5728\u622a\u81f3 2025 \u5e74 11 \u6708\u7684 2025 \u8ca1\u5e74\uff0c\u535a\u901a AI \u82af\u7247\u92b7\u552e\u984d\u540c\u6bd4\u98c6\u5347 65% \u81f3 200 \u5104\u7f8e\u5143\uff0c\u5360\u516c\u53f8\u7e3d\u71df\u6536\u7684 31%\u3002\u516c\u53f8\u9810\u8a08\uff0c2027 \u8ca1\u5e74 AI \u82af\u7247\u6536\u5165\u5c07\u81f3\u5c11\u9054\u5230 1000 \u5104\u7f8e\u5143\uff0c\u5c46\u6642\u5360\u7e3d\u71df\u6536\u7684\u6bd4\u91cd\u5c07\u8d85\u904e 58%\u3002<\/p>\n<p>\u9664 AI \u82af\u7247\u5916\uff0c\u535a\u901a\u9084\u4f48\u5c40\u4e86\u79fb\u52d5\u3001\u6578\u64da\u4e2d\u5fc3\u7db2\u7d61\u3001\u7121\u7dda\u3001\u5b58\u5132\u3001\u5de5\u696d\u82af\u7247\u53ca\u57fa\u790e\u8a2d\u65bd\u5b89\u5168\u8edf\u4ef6\u7b49\u591a\u5143\u696d\u52d9\u3002\u9019\u4e9b\u696d\u52d9\u96d6\u589e\u901f\u4e0d\u53ca AI \u677f\u584a\uff0c\u4f46\u53ef\u8207 AI \u82af\u7247\u5f62\u6210\u7522\u54c1\u7d44\u5408\u6346\u7d81\uff0c\u5f37\u5316\u5ba2\u6236\u7c98\u6027\uff0c\u5728\u591a\u500b\u7d42\u7aef\u5e02\u5834\u69cb\u5efa\u5bec\u95ca\u7684\u7af6\u722d\u8b77\u57ce\u6cb3\u3002<\/p>\n<p>\u5206\u6790\u5e2b\u4e00\u81f4\u9810\u671f\uff0c2025 \u8ca1\u5e74\u81f3 2028 \u8ca1\u5e74\uff0c\u535a\u901a\u71df\u6536\u8207\u6bcf\u80a1\u6536\u76ca\uff08EPS\uff09\u7684\u5e74\u8907\u5408\u589e\u9577\u7387\u5c07\u5206\u5225\u9054\u5230 53% \u8207 66%\uff0c\u589e\u9577\u5f48\u6027\u5728\u5168\u7403\u982d\u90e8\u82af\u7247\u4f01\u696d\u4e2d\u4f4d\u5c45\u524d\u5217\u3002<\/p>\n<h2>\u4f30\u503c\u7aaa\u5730\uff1a\u9ad8\u589e\u9577\u5339\u914d\u4f4e\u4f30\u503c<\/h2>\n<p>\u8207\u4eae\u773c\u7684\u589e\u9577\u9810\u671f\u5f62\u6210\u9bae\u660e\u53cd\u5dee\u7684\u662f\u535a\u901a\u76f8\u5c0d\u514b\u5236\u7684\u4f30\u503c\u6c34\u5e73\u3002\u7576\u524d\u535a\u901a\u5c0d\u61c9\u4e0b\u4e00\u8ca1\u5e74\u76c8\u5229\u7684\u9810\u671f\u5e02\u76c8\u7387\u7d04\u70ba 25 \u500d\uff1b\u82e5\u4ee5\u5254\u9664\u4e26\u8cfc\u77ed\u671f\u64fe\u52d5\u7684\u8abf\u6574\u5f8c\u606f\u7a05\u6298\u820a\u6524\u92b7\u524d\u5229\u6f64\uff08EBITDA\uff09\u8a08\u7b97\uff0c\u5c0d\u61c9 1.98 \u842c\u5104\u7f8e\u5143\u7684\u4f01\u696d\u50f9\u503c\uff0c\u524d\u77bb\u4f30\u503c\u50c5\u70ba 16 \u500d\uff0c\u662f\u5168\u7403\u5927\u76e4 AI \u80a1\u4e2d\u4f30\u503c\u6027\u50f9\u6bd4\u6700\u9ad8\u7684\u6a19\u7684\u4e4b\u4e00\u3002<\/p>\n<p>\u6a6b\u5411\u5c0d\u6bd4\u66f4\u80fd\u51f8\u986f\u4f4e\u4f30\u5c6c\u6027\uff1a\u82f1\u5049\u9054\u9810\u8a08 2026 \u8ca1\u5e74\u81f3 2029 \u8ca1\u5e74\u71df\u6536\u8207 EPS \u5e74\u8907\u5408\u589e\u901f\u7d04\u70ba 46%\uff0c\u589e\u901f\u4f4e\u65bc\u535a\u901a\uff0c\u524d\u77bb\u5e02\u76c8\u7387\u7d04\u70ba 16 \u500d\uff1b\u904e\u53bb\u4e00\u5e74\u80a1\u50f9\u66b4\u6f32\u8d85 500% \u7684\u82f1\u7279\u723e\uff0c\u524d\u77bb\u5e02\u76c8\u7387\u5df2\u7a81\u7834 120 \u500d\uff0c\u540c\u8cfd\u9053\u7684 AMD \u524d\u77bb\u5e02\u76c8\u7387\u4e5f\u7d04\u70ba 73 \u500d\u3002\u76f8\u8f03\u4e4b\u4e0b\uff0c\u535a\u901a\u7684\u589e\u9577\u8207\u4f30\u503c\u5339\u914d\u5ea6\u986f\u8457\u66f4\u512a\u3002<\/p>\n<h2>\u77ed\u671f\u932f\u6bba\uff1a\u56de\u8abf\u6253\u958b\u4f48\u5c40\u7a97\u53e3<\/h2>\n<p>\u8fd1\u671f\u535a\u901a\u80a1\u50f9\u96a8\u79d1\u6280\u80a1\u6574\u9ad4\u56de\u8abf\u51fa\u73fe\u6ce2\u52d5\uff0c\u5e02\u5834\u62cb\u552e\u7684\u76f4\u63a5\u5c0e\u706b\u7d22\u662f\u516c\u53f8\u672a\u4e0a\u8abf 2027 \u8ca1\u5e74 AI \u82af\u7247\u71df\u6536\u6307\u5f15\u3002\u4f46\u4e8b\u5be6\u4e0a\uff0c\u535a\u901a\u76ee\u524d\u4ecd\u8655\u65bc 2026 \u8ca1\u5e74\u9031\u671f\u4e2d\uff0c\u6b64\u6642\u8abf\u6574\u9577\u671f\u6307\u5f15\u4e26\u7121\u5fc5\u8981\uff0c\u516c\u53f8 1000 \u5104\u7f8e\u5143\u7684 AI \u82af\u7247\u71df\u6536\u76ee\u6a19\u4e26\u672a\u767c\u751f\u52d5\u6416\u3002<\/p>\n<p>\u96a8\u8457 AI \u63a8\u7406\u9700\u6c42\u6301\u7e8c\u91cb\u653e\uff0c\u8d85\u5927\u898f\u6a21\u5ba2\u6236\u5c0d\u5b9a\u5236 ASIC \u7684\u63a1\u8cfc\u5c07\u6301\u7e8c\u653e\u91cf\uff0c\u758a\u52a0\u5171\u5c01\u88dd\u5149\u5b78\u3001\u6578\u64da\u4e2d\u5fc3\u7db2\u7d61\u7b49\u5354\u540c\u696d\u52d9\u7684\u52a9\u529b\uff0c\u535a\u901a\u7684 AI \u589e\u9577\u908f\u8f2f\u5177\u5099\u9577\u671f\u78ba\u5b9a\u6027\uff0c\u77ed\u671f\u5e02\u5834\u60c5\u7dd2\u5f15\u767c\u7684\u56de\u8abf\uff0c\u53cd\u800c\u70ba\u9577\u671f\u6295\u8cc7\u8005\u63d0\u4f9b\u4e86\u66f4\u597d\u7684\u4f48\u5c40\u7a97\u53e3\u3002<\/p>\n<p>\u5f9e\u884c\u696d\u9577\u671f\u683c\u5c40\u4f86\u770b\uff0cAI \u7b97\u529b\u5e02\u5834\u4e26\u975e\u55ae\u4e00\u6280\u8853\u8def\u7dda\u7684\u58df\u65b7\uff0c\u5b9a\u5236\u5316\u52a0\u901f\u82af\u7247\u6b63\u5728\u63a8\u7406\u7b49\u5834\u666f\u6301\u7e8c\u6495\u958b\u589e\u91cf\u7a7a\u9593\u3002\u535a\u901a\u6191\u85c9\u6df1\u539a\u7684\u6280\u8853\u7a4d\u7d2f\u8207\u982d\u90e8\u5ba2\u6236\u6df1\u5ea6\u7d81\u5b9a\uff0c\u5df2\u7d93\u4f54\u64da\u4e86\u9019\u689d\u9ad8\u666f\u6c23\u8cfd\u9053\u7684\u6838\u5fc3\u4f4d\u7f6e\u3002\u5728 AI \u82af\u7247\u677f\u584a\u6574\u9ad4\u4f30\u503c\u9ad8\u4f01\u7684\u7576\u4e0b\uff0c\u517c\u5177\u9ad8\u589e\u9577\u78ba\u5b9a\u6027\u8207\u4f30\u503c\u6027\u50f9\u6bd4\u7684\u535a\u901a\uff0c\u6709\u671b\u6210\u70ba AI \u7b97\u529b\u8cfd\u9053\u4e2d\u9577\u671f\u914d\u7f6e\u7684\u512a\u8cea\u9078\u64c7\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u672c\u8f2a AI \u7b97\u529b\u884c\u60c5\u4e2d\uff0c\u82f1\u5049\u9054\u3001\u82f1\u7279\u723e\u7b49\u82af\u7247\u9f8d\u982d\u80a1\u50f9\u6301\u7e8c\u6c96\u9ad8\uff0c\u4f30\u503c\u4e0d\u65b7\u62ac\u5347\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u540c\u6a23\u6df1\u5ea6\u53d7\u76ca AI \u7522\u696d [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":494122,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1522,431],"tags":[675,2159,2174,2233],"class_list":["post-645073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1522","category-trends-strategies-zh-hant","tag--zh-hant","tag-2159","tag-2174","tag-2233","sectors-technology-zh-hant","locations-us-zh-hant","exchange-nasdaq-zh-hant"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/645073","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\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=645073"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/645073\/revisions"}],"predecessor-version":[{"id":645076,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/645073\/revisions\/645076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/494122"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=645073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=645073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=645073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}