人工智能的浪潮席卷全球，而身处风暴中心的OpenAI，正以前所未有的姿态，用一系列巨额采购订单震动着科技与金融界。 最新动态是， OpenAI再签重磅协议，计划未来四年与博通合作部署10千兆瓦定制化芯片和网络设备。 英国《金融时报》援引知情人士消息称， 这笔交易可能意味着OpenAI在近几个月已签署的约1万亿美元芯片和数据中心采购协议之上，可能还需要额外支出 3500亿至5000亿美元 ，以满足其构建AI基础设施的庞大需求。 这一系列操作将市场的目光再次聚焦于一个核心问题： OpenAI的钱从哪儿来？ 这家预计今年亏损约100亿美元的AI初创公司，如何支撑其看似无尽的资本支 出。 10月14日，前高盛银行家、彭博专栏作家Matt Levine形象地指出，OpenAI的融资策略是"世界级的金融工程"，其精髓在于"金融的时间旅行"。 Levine解释道，传统的金融模式是基于工厂和产品清晰的商业计划来借贷，但科技初创企业则是一种极端版本——它们依赖于一个"疯狂的雄心勃勃的愿 景"和"让人相信愿景的能力"来吸引投资。Levine将其比喻为创业者 "把手搭在投资者肩上，指着远方，轻声说：'全知（AI）机器人'"，投资者 ...

"如果你欠银行100美元，那是你的问题。如果你欠博通5000亿美元，那是博通的问题。如果你欠每家大型科技公司数千亿美元，那是他们的问题。他们 肯定会找到解决办法的！或者你会。钱的问题会自己解决的。" 人工智能的浪潮席卷全球，而身处风暴中心的OpenAI，正以前所未有的姿态，用一系列巨额采购订单震动着科技与金融界。 10月14日，前高盛银行家、彭博专栏作家Matt Levine形象地指出，OpenAI的融资策略是"世界级的金融工程"，其精髓在于"金融的时间旅行"。 Levine解释道，传统的金融模式是基于工厂和产品清晰的商业计划来借贷，但科技初创企业则是一种极端版本——它们依赖于一个"疯狂的雄心勃勃的 愿景"和"让人相信愿景的能力"来吸引投资。Levine将其比喻为创业者 "把手搭在投资者肩上，指着远方，轻声说：'全知（AI）机器人'"，投资者便 会"开悟"。 比如博通，昨晚的消息后博通股价飙升11%，投资者押注这笔联盟将为芯片制造商带来数千亿美元的新收入。然而，OpenAI将如何支付这些设备费 用，细节并未明确。 如果你欠银行100美元，那是你的问题。如果你欠博通5000亿美元，那是博通的问题。如果你欠每家大 ...

Market Overview - Technology stocks supported a rebound in US markets, with the Nasdaq rising over 2% and the S&P 500 up more than 1%, marking the largest daily gains in four and a half months [1] - The semiconductor index increased nearly 5%, with Broadcom surging close to 10% after a significant agreement with OpenAI [1][2] - Chinese concept stocks rose over 3%, with smart charging stocks soaring over 103% [1] Commodity Performance - Gold prices reached a historic high, surpassing $4,100 for the first time, with spot gold rising over 3% [1] - Silver also hit a historic peak, breaking the $50 mark for the first time since 1980, with spot silver increasing over 7% [1] - The US dollar index rebounded, nearing a two-month high, while offshore RMB gained over 100 points [1] Energy and Raw Materials - Oil prices rebounded from five-month lows, with WTI crude oil rising over 2% [1] - Copper futures also saw a significant increase, rising nearly 6% and reaching a two-month high [1] Domestic Developments - The National Development and Reform Commission is seeking public opinion on the implementation of renewable energy consumption targets [3] - Hangzhou's government is discussing regulations to promote the development of embodied intelligent robotics [3] - China National Nuclear Corporation made significant progress in key technologies for magnetic confinement nuclear fusion energy [3][9] Investment Strategies - Dongfang Securities noted that trade shocks are weaker than expected, but market recovery may be delayed [4] - The upcoming "15th Five-Year Plan" and breakthroughs in key technology sectors are expected to support a "slow bull" market [4] Industry Highlights - Adata's chairman indicated that the storage industry is experiencing significant price increases due to supply shortages, particularly in DDR4 and NAND flash memory [6] - China's charging infrastructure has become the largest globally, with over 17.3 million charging facilities by August 2025 [7] - The CRAFT project in China achieved a breakthrough in the development of a key component for fusion reactors, marking a significant step towards commercializing fusion energy [9] Company Announcements - Yiyi Co. is planning to acquire a pet food company, leading to a stock suspension [11] - Kalait is establishing a joint venture focused on AI infrastructure and high-performance computing services [12] - Nine安医疗 plans to repurchase shares worth between RMB 300 million and 600 million [13] - Salt Lake Co. expects a net profit of RMB 4.3 billion to 4.7 billion for the first three quarters, a year-on-year increase of 36.89% to 49.62% [13]