巨额AI投资何时能回本？大摩给出答案：2028年

Core Insights - Artificial Intelligence (AI) is expected to drive market growth by 2025, but concerns arise regarding the substantial infrastructure investments made by companies [1] - Morgan Stanley reassures investors that the current wave of spending will soon yield returns, predicting a positive impact on company revenues by 2028 [1][4] Group 1: Investment Trends - OpenAI has announced significant partnerships with major tech companies like Oracle, Nvidia, and Advanced Micro Devices, indicating a massive investment in chips and data centers, reaching trillion-dollar levels [1] - Morgan Stanley's report highlights a network of interconnected tech companies where substantial funds flow in and out of OpenAI [1] Group 2: Financial Projections - Morgan Stanley's technology team believes the AI spending cycle is still in its early stages, with high costs not deterring investors [4] - The report forecasts that AI software revenue will reach $1.1 trillion by 2028, suggesting a strong potential for returns on the capital invested [4] - The current AI spending wave is viewed as part of a long-term profit cycle rather than a speculative bubble, with global related spending expected to approach $3 trillion by 2028 [4] Group 3: Market Impact - If the revenue targets are met, the AI boom is likely to continue driving growth for companies heavily investing in the sector [4] - Analysts from firms like Morningstar speculate that the substantial AI capital expenditures by companies such as Amazon, Microsoft, and Alphabet may negatively impact their stock prices over time [4]