高盛：引发美股科技股抛售的 MIT 调查，1 万亿美元生成式 AI 投资是否值得？

Group 1 - The recent sell-off of U.S. tech stocks is attributed to the MIT report titled "The Generative AI Gap: The State of Business AI in 2025" [1] - The core conclusion of the MIT survey indicates that despite investments of $30-40 billion in generative AI, 95% of organizations have not seen commercial returns [2] - The survey highlights a disparity of "high adoption but low transformation," with only two industries showing signs of structural disruption, while seven remain in the experimental phase [2] Group 2 - There is a time lag in the reaction to the MIT report, which was released in July but only gained Wall Street's attention in mid-August, suggesting investors may be seeking justification for selling overvalued AI stocks [3] - Goldman Sachs had previously warned about the "input-output" controversy of generative AI, questioning whether the $1 trillion investment in AI is worthwhile [4] - The disparity between conservative and optimistic productivity and GDP growth projections indicates a risk of overvaluation in the AI market [5] Group 3 - The case of Global Crossing during the internet bubble serves as a historical lesson, where significant investments in infrastructure did not prevent bankruptcy when the bubble burst [6] - This reflects a pattern where the realization of a correct vision may take longer than expected, raising questions about whether the current AI hype will follow a similar trajectory [7] Group 4 - The main obstacles to scaling AI in enterprises, as identified by the MIT survey, include challenges in change management, lack of executive support, poor user experience, concerns over model output quality, and low willingness to adopt new tools [8]