微软 ( NASDAQ: MSFT ) 正在寻找更多途径利用人工智能，推动企业客户大规模采用。随着 Microsoft 365 Copilot 等核心解决方案由 OpenAI 和 Anthropic 提供支持，用户在前沿模型之间获得了更多灵活性和选择。 作为 其增长战略的一部分，预计微软将在 2026 年第一季度将其资本支出增加 63%，以履行其云服务剩余的履约义务，从而促进未来几个季度 的营收增长。鉴于其良好的增长前景，分析师重申对微软股票的"买入"评级，目标价为每股 664 美元，相当于 2027 财年企业价值/息税折旧摊 销前利润 (EV/EBITDA) 的 21.43 倍。 微软在扩大云业务版图上迈出了关键一步 —— 推出了 "微软主权云"（Microsoft Sovereign Cloud），包含主权公有云、主权私有云和国家合 作伙伴云三种形式。私有云既可以是混合模式，也能在本地站点实现离线运行，同时还能完整使用 Microsoft 365 Local 和 Azure Local 套 件。云实例会配备数据守护者（Data Guardian）、外部密钥管理（External Key Managemen ...

Core Viewpoint - Microsoft has launched the "Sovereign Cloud" aimed at European customers, ensuring data remains within Europe to comply with EU regulations while providing advanced technologies like AI applications driven by large models [1][2]. Group 1: Sovereign Cloud Offerings - The new cloud products include Sovereign Public Cloud, Sovereign Private Cloud, and National Partner Clouds, designed to meet the requirements of the EU's General Data Protection Regulation (GDPR) [1][2]. - The Sovereign Public Cloud guarantees that customer data stays in Europe, operated and accessed by professionals from the European market, with encryption systems fully controlled by customers [1][2]. - The Sovereign Public Cloud is currently in preview and is expected to be fully available across all European cloud business regions later this year [1]. Group 2: Collaboration and Compliance - National Partner Clouds operate as a collaboration platform with local cloud service providers, such as the partnership with Orange and Capgemini in France for the "cloud de confiance" [2]. - The launch of the Sovereign Cloud is seen as a critical moment for European regulators and industries to gain necessary control, compliance standards, and innovation momentum in the digital economy [2]. - Additional features related to the Sovereign Public Cloud include Data Guardian, Azure external key management, and Regulated Environment Management Service [2]. Group 3: Strategic Objectives - The primary goal of launching the Sovereign Cloud in Europe is to allow Microsoft to continue providing the latest Azure services and AI applications while meeting the EU's stringent data sovereignty and privacy compliance requirements [3]. - Since the implementation of GDPR in 2018, cross-border data transfer has been restricted, emphasizing that data must be governed by EU laws and remain in local data centers [3]. - The EU's digital policy aims to strengthen European sovereignty in the cloud sector and encourages public procurement to prioritize high-security sovereign cloud services [3].