Jin Rong Jie·2025-12-08 01:12Core Viewpoint - The perception of AI-related companies on Wall Street is shifting, with OpenAI facing skepticism regarding its profitability and growth, while Alphabet is gaining favor due to its strong financial position and diverse AI-related ventures [1][2]. Group 1: OpenAI's Challenges - OpenAI is no longer seen as the leading representative of AI technology and is under pressure due to insufficient profitability and the need for rapid expansion to manage high expenses [1][2]. - The stock prices of companies within the OpenAI ecosystem, such as Oracle, CoreWeave, and AMD, are experiencing significant sell-off pressure [1]. - OpenAI's stock performance has lagged behind Alphabet's, with related companies seeing a cumulative stock price increase of 74% since 2025, compared to Alphabet's 146% increase [5]. Group 2: Alphabet's Strengths - Alphabet's resurgence is attributed to its substantial financial resources and its extensive involvement in various AI sectors, including Google Cloud and semiconductor manufacturing [6]. - The release of Alphabet's Gemini AI model has received positive feedback, further enhancing investor confidence in the company [5][6]. - Companies associated with Alphabet, such as Lumentum and Broadcom, have seen significant stock price increases, with Lumentum's stock rising over twofold this year [7]. Group 3: Market Sentiment and Future Outlook - The market's sentiment towards OpenAI has shifted dramatically, with concerns about its complex financing structure and debt issues becoming more pronounced [2]. - OpenAI's CEO has raised alarms about the company's ability to meet its ambitious project commitments, leading to increased scrutiny from investors [7][10]. - Analysts predict a significant funding gap for OpenAI, estimated at around $207 billion by 2033, raising concerns about its long-term viability and the impact on the broader AI industry [10].