{"id":649379,"date":"2026-07-09T06:35:28","date_gmt":"2026-07-09T13:35:28","guid":{"rendered":"https:\/\/nai500.com\/?p=649379"},"modified":"2026-07-09T06:35:28","modified_gmt":"2026-07-09T13:35:28","slug":"%e6%9c%a8%e9%a0%ad%e5%a7%90%e5%8a%a0%e5%80%89%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-hant\/blog\/2026\/07\/%e6%9c%a8%e9%a0%ad%e5%a7%90%e5%8a%a0%e5%80%89%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\u982d\u59d0\u52a0\u5009\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\u50f9\u5df2\u5f9e\u4e0a\u5e02\u71b1\u6f6e\u5feb\u901f\u8dcc\u5165\u56de\u8abf\u901a\u9053\u3002\u622a\u81f3 7 \u6708 8 \u65e5\u7f8e\u80a1\u6536\u76e4\uff0c\u516c\u53f8\u80a1\u50f9\u5831 148.30 \u7f8e\u5143\uff0c\u8f03 6 \u6708\u4e2d\u65ec 202 \u7f8e\u5143\u7684\u76e4\u4e2d\u9ad8\u9ede\u7d2f\u8a08\u56de\u64a4\u7d04 26.5%\uff1b\u5373\u4fbf\u5728\u6b63\u5f0f\u7d0d\u5165\u7d0d\u65af\u9054\u514b 100 \u6307\u6578\u7684\u5229\u597d\u843d\u5730\u7576\u65e5\uff0c\u80a1\u50f9\u4ecd\u5927\u8dcc\u8d85 6%\uff0c\u9996\u5ea6\u8dcc\u7834 150 \u7f8e\u5143\u6574\u6578\u95dc\u53e3\u3002<\/p>\n<p>\u4e00\u908a\u662f\u80a1\u50f9\u6301\u7e8c\u8d70\u5f31\uff0c\u4e00\u908a\u662f\u660e\u661f\u8cc7\u672c\u8207\u884c\u696d\u5206\u6790\u5e2b\u9f4a\u8072\u770b\u591a\u3002\u201c\u6728\u982d\u59d0\u201d \u51f1\u897f\u30fb\u4f0d\u5fb7\uff08Cathie Wood\uff09\u4e09\u5ea6\u9022\u4f4e\u52a0\u5009\uff0c\u77e5\u540d\u79d1\u6280\u6295\u8cc7\u4eba\u5409\u6069\u30fb\u8499\u65af\u7279\uff08Gene Munster\uff09\u9ad8\u8abf\u63d0\u51fa \u201c\u4e3b\u6b0a AI\u201d \u908f\u8f2f\u4e26\u5c07\u5176\u5217\u70ba\u6838\u5fc3\u79d1\u6280\u6301\u5009\u3002\u591a\u7a7a\u535a\u5f08\u4e4b\u4e0b\uff0c\u56de\u64a4\u5f8c\u7684 SpaceX \u662f\u5426\u5df2\u5230\u4f48\u5c40\u6642\u9ede\uff0c\u6210\u70ba\u7576\u524d\u7f8e\u80a1\u5e02\u5834\u7684\u7126\u9ede\u8b70\u984c\u3002<\/p>\n<h2>\u591a\u982d\u62bc\u6ce8\uff1a\u660e\u661f\u8cc7\u672c\u8d8a\u8dcc\u8d8a\u8cb7 \u4e3b\u6b0a AI \u908f\u8f2f\u80cc\u66f8<\/h2>\n<p>ARK Invest \u5275\u59cb\u4eba\u4f0d\u5fb7\u6210\u70ba\u672c\u8f2a\u4e0b\u8dcc\u4e2d\u6700\u5805\u5b9a\u7684\u591a\u982d\u4fe1\u865f\u3002\u64da ARK \u6700\u65b0\u8abf\u5009\u6578\u64da\uff0c7 \u6708 7 \u65e5\u4f0d\u5fb7\u901a\u904e\u65d7\u8266\u5275\u65b0\u57fa\u91d1 ARKK \u8cb7\u5165 4.42 \u842c\u80a1 SpaceX\uff0c\u6d89\u8cc7\u7d04 709 \u842c\u7f8e\u5143\uff0c\u9019\u5df2\u662f\u516c\u53f8\u4e0a\u5e02\u4ee5\u4f86\u4f0d\u5fb7\u7684\u7b2c\u4e09\u6b21\u9022\u4f4e\u589e\u6301\u52d5\u4f5c\u3002\u622a\u81f3\u76ee\u524d\uff0cSpaceX \u5df2\u8e8b\u8eab ARKK \u7b2c\u4e03\u5927\u91cd\u5009\u80a1\uff0c\u6301\u5009\u5360\u6bd4\u7d04 4%\uff0c\u5c0d\u61c9\u5e02\u503c\u8fd1 2.66 \u5104\u7f8e\u5143\u3002<\/p>\n<p>\u70ba\u96c6\u4e2d\u62bc\u6ce8\u592a\u7a7a\u79d1\u6280\u8cfd\u9053\uff0c\u4f0d\u5fb7\u8fd1\u671f\u6301\u7e8c\u6e1b\u6301 AMD\u3001\u963f\u88e1\u5df4\u5df4\u7b49\u6210\u719f\u79d1\u6280\u80a1\u9a30\u632a\u5009\u4f4d\u3002\u516c\u53f8\u5718\u968a\u5224\u65b7\uff0c\u4f9d\u8a17 AI\u3001\u8ecc\u9053\u6578\u64da\u4e2d\u5fc3\u8207\u822a\u5929\u696d\u52d9\u7684\u5354\u540c\u6548\u61c9\uff0cSpaceX \u5728\u6a02\u89c0\u60c5\u666f\u4e0b 2030 \u5e74\u4f01\u696d\u4f30\u503c\u53ef\u9054 3.1 \u842c\u5104\u7f8e\u5143\uff0c\u8f03\u7576\u524d\u4ecd\u6709\u8d85 60% \u7684\u4e0a\u884c\u7a7a\u9593\u3002<\/p>\n<p>Deepwater Asset Management 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\u8868\u793a\uff0c\u9019\u7a2e\u5f9e\u77fd\u7247\u88fd\u9020\u5230\u6578\u64da\u50b3\u8f38\u518d\u5230\u6a21\u578b\u904b\u7b97\u7684\u5168\u93c8\u8def\u638c\u63a7\uff0c\u8b93 SpaceX \u5fb9\u5e95\u64fa\u812b\u7b2c\u4e09\u65b9\u7522\u696d\u93c8\u74f6\u9838\uff0c\u662f Alphabet\u3001OpenAI \u7b49\u982d\u90e8 AI \u4f01\u696d\u90fd\u7121\u6cd5\u8907\u523b\u7684\u58c1\u58d8\uff0c\u7406\u61c9\u6210\u70ba\u6295\u8cc7\u8005\u7684\u6838\u5fc3\u79d1\u6280\u6301\u5009\u3002<\/p>\n<h2>\u4e09\u91cd\u96b1\u6182\uff1a\u4f9b\u7d66\u3001\u4f30\u503c\u8207\u843d\u5730\u98a8\u96aa\u5171\u632f<\/h2>\n<p>\u5118\u7ba1\u9577\u671f\u6558\u4e8b\u5177\u5099\u60f3\u50cf\u529b\uff0c\u4f46\u591a\u6578\u5e02\u5834\u89c0\u9ede\u8a8d\u70ba\u7576\u4e0b\u4e26\u975e\u5165\u5834\u826f\u6a5f\uff0c\u9650\u552e\u89e3\u7981\u3001\u9ad8\u4f30\u503c\u6ce1\u6cab\u3001\u6280\u8853\u843d\u5730\u4e0d\u78ba\u5b9a\u6027\u4e09\u91cd\u58d3\u529b\uff0c\u4ecd\u5c07\u6301\u7e8c\u58d3\u5236\u80a1\u50f9\u8868\u73fe\u3002<\/p>\n<p>\u6700\u76f4\u63a5\u7684\u77ed\u671f\u98a8\u96aa\u4f86\u81ea\u9650\u552e\u80a1\u89e3\u7981\u7684\u4f9b\u7d66\u885d\u64ca\u3002\u672c\u6b21 IPO \u50c5\u767c\u884c 5.55 \u5104\u80a1\uff0c\u5c0d\u61c9\u7e3d\u80a1\u672c 131 \u5104\u80a1\uff0c\u7576\u524d\u516c\u773e\u6d41\u901a\u76e4\u5360\u6bd4\u4e0d\u8db3 5%\uff0c\u5176\u9918 95% \u80a1\u4efd\u7531\u5167\u90e8\u4eba\u58eb\u8207\u54e1\u5de5\u6301\u6709\u4e26\u8655\u65bc\u9396\u5b9a\u671f\u3002\u6309\u6642\u9593\u8868\uff0c\u9996\u6279\u7d04 9.11 \u5104\u80a1\u65e9\u671f\u91cb\u653e\u80a1\u4efd\u6700\u5feb\u5c07\u65bc 7 \u6708\u5e95\u81f3 8 \u6708\u521d\uff08\u4e8c\u5b63\u5ea6\u8ca1\u5831\u767c\u4f48\u5f8c\uff09\u89e3\u7981\uff0c\u5c46\u6642\u6d41\u901a\u76e4\u5c07\u76f4\u63a5\u7ffb\u500d\u81f3 15 \u5104\u80a1\uff1b\u5f8c\u7e8c\u591a\u6279\u6b21\u89e3\u7981\u5c07\u6301\u7e8c\u81f3 10 \u6708\u5e95\uff0c\u6700\u7d42\u6d41\u901a\u898f\u6a21\u5c07\u7a81\u7834 30 \u5104\u80a1\uff0c\u8f03\u7576\u524d\u64f4\u5bb9\u8d85 5 \u500d\u3002\u4f9b\u9700\u683c\u5c40\u7684\u5287\u70c8\u8b8a\u5316\uff0c\u5927\u6982\u7387\u5e36\u4f86\u96c6\u4e2d\u62cb\u58d3\u3002<\/p>\n<p>\u6b77\u53f2\u6578\u64da\u540c\u6a23\u70ba\u5de8\u578b IPO \u7684\u5f8c\u5e02\u6572\u97ff\u8b66\u9418\u3002\u7d71\u8a08\u7f8e\u80a1 15 \u5bb6\u6700\u9ad8\u5e02\u503c IPO \u6a19\u7684\u8868\u73fe\uff0c\u500b\u80a1\u4e0a\u5e02\u9996\u5e74\u5e73\u5747\u6700\u5927\u56de\u64a4\u9054 23%\uff0c\u4e00\u5e74\u5f8c\u80a1\u50f9\u5e73\u5747\u8f03\u767c\u884c\u50f9\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\u6b77\u53f2\u898f\u5f8b\u63a8\u6f14\uff0cSpaceX \u80a1\u50f9\u6216\u5728\u4e0a\u5e02\u9996\u5e74\u4e0b\u63a2\u81f3 104 \u7f8e\u5143\uff0c\u8f03\u7576\u524d\u50f9\u683c\u4ecd\u6709\u7d04 30% \u7684\u4e0b\u884c\u7a7a\u9593\u3002<\/p>\n<p>\u4f30\u503c\u8207\u57fa\u672c\u9762\u7684\u80cc\u96e2\u5247\u662f\u66f4\u6df1\u5c64\u7684\u96b1\u60a3\u3002\u7576\u524d SpaceX \u5e02\u92b7\u7387\u8d85 100 \u500d\uff0c\u5927\u5e45\u9818\u8dd1\u7d0d\u65af\u9054\u514b 100 \u6210\u5206\u80a1\uff0c\u9060\u8d85\u79d1\u6280\u884c\u696d\u7d04 9 \u500d\u7684\u5e73\u5747\u6c34\u5e73\u3002\u696d\u7e3e\u7aef\uff0c\u516c\u53f8 2025 \u5e74\u6de8\u8667\u640d\u8fd1 49 \u5104\u7f8e\u5143\uff0c2026 \u5e74\u4e00\u5b63\u5ea6\u8cc7\u672c\u958b\u652f\u9054 100 \u5104\u7f8e\u5143\uff0c\u63a5\u8fd1\u53bb\u5e74\u5168\u5e74\u7684\u4e09\u5206\u4e4b\u4e00\uff0cStarlink \u5546\u696d\u5316\u3001\u8ecc\u9053\u6578\u64da\u4e2d\u5fc3\u3001Terafab \u6676\u5713\u5ee0\u5747\u8655\u65bc\u9ad8\u5f37\u5ea6\u6295\u5165\u671f\uff0c\u76c8\u5229\u514c\u73fe\u9031\u671f\u4ecd\u4e0d\u660e\u6717\u3002<\/p>\n<p>\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u5373\u4fbf\u88ab\u8996\u70ba\u5229\u597d\u7684\u7d0d\u6307 100 \u5feb\u901f\u7d0d\u5165\u300112 \u5bb6 IPO \u627f\u92b7\u5546\u96c6\u9ad4\u7d66\u51fa\u8cb7\u5165\u8a55\u7d1a\u4e5f\u672a\u80fd\u6258\u4f4f\u80a1\u50f9\u3002\u5e02\u5834\u5206\u6790\u8a8d\u70ba\uff0c\u6307\u6578\u7d0d\u5165\u7684\u88ab\u52d5\u8cc7\u91d1\u8cb7\u5165\u9810\u671f\u5df2\u63d0\u524d\u514c\u73fe\uff0c\u758a\u52a0\u8fd1\u671f\u7d0d\u6307\u6574\u9ad4\u8d70\u5f31\uff0c\u5e02\u5834\u60c5\u7dd2\u5df2\u5f9e\u4e0a\u5e02\u521d\u671f\u7684\u72c2\u71b1\u5feb\u901f\u8f49\u5411\u8b39\u614e\u3002<\/p>\n<h2>\u7d50\u8a9e<\/h2>\n<p>\u6574\u9ad4\u800c\u8a00\uff0cSpaceX \u5728\u822a\u5929\u8207 AI 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