The OpenAI logo appears on a smartphone screen and the Microsoft logo on a laptop screen as the ... More background in Athens, Greece, on July 4, 2025. Microsoft cuts up to 9,000 more jobs as it invests in AI. (Photo by Nikolas Kokovlis/NurPhoto via Getty Images)NurPhoto via Getty ImagesMicrosoft’s stock (NASDAQ:MSFT) has already achieved remarkable gains, increasing over 2x from $235 in early 2023 to about $500 now. What factors could drive the stock to double from its current value over the next few years ...

Key Takeaways Nebius Group N.V. (NBIS) shares have gained 81.4% year to date, outperforming the Zacks Computer & Technology sector and the Zacks Internet Software Services industry's growth of 7.9% and 26.8%, respectively. The S&P 500 Composite is up 6.2% over the same time frame. Price Performance Image Source: Zacks Investment Research The gain is also much higher than the likes of Microsoft (MSFT) and Amazon (AMZN) , who dominate the global AI infrastructure space. MSFT and AMZN have gained 18.3% and 1.8 ...

Capex 4 月底，北美四大云厂商（微软、谷歌、AWS、Meta））相继发布一季 度财报，AI 算力资本开支持续高增。四大云厂商 25Q1 总 Capex 为 719 亿美元，同比增长 62%。大厂对 Capex 持续乐观的预期，意味着 AI 已成为科技巨头一致看好的确定性产业趋势。 本轮海外 AI 算力板块大涨的五个关键词 截至目前，海外 AI 算力板块已实现了新一轮全面上涨。我们复盘二 季度以来产业相关变化，按照时间线总结了本轮海外 AI 算力板块大 涨的五个关键词。 Token 5 月 21 日，谷歌在 Google I/O 大会上披露，其 Token 月均调用量从 2024 年 4 月的 9.7 万亿增长至 2025 年 4 月的 480 万亿（Token 日均 调用量 16 万亿），一年增长了 50 倍。Token 调用量的快速增长，意 味着 AI 应用端，特别是推理侧对算力的需求正在加速释放。 ASIC 6 月初，ASIC 芯片龙头博通在其 FY25Q2 电话会上披露，单季度营收 超过 150 亿美元，同比增长 20%，创历史新高，其中 AI 业务收入超 44 亿美元，同比增长 46%。随着 A ...

在AI的狂热推动下，微软和英伟达的公司市值正迈向4万亿美元关口。 英伟达的崛起几乎完全依赖于AI热潮。作为AI价值链上游的芯片供应商，任何涉足AI的公司几乎都绕不开英伟达的硬件支持。 过去三年，其年销售额激增10倍，未来三年预计仍将保持年均32%的增长。英伟达大客户的资本支出计划也显示， 短期内其芯片需求不会骤减。 然而，这种"全押AI"的模式也带来二元风险。 最新数据显示， 英伟达市值达3.89万亿美元，微软市值达3.71万元美元，双双逼近4万亿美元。 过去三年来，英伟达凭借芯片需求激增，年销售额增长超过10倍；近年来，微软则通过与OpenAI的早期合作，将AI技术嵌入自身产品，说服大量企业和消费 者客户为其AI服务支付溢价。 然而，微软的AI故事更为复杂，其市值在不到三个月内暴增1万亿美元后，市场对其估值的高倍数容错空间已极为有限。媒体分析指出，以4万亿美元市值计 算，微软的预期市盈率将创20多年来新高。 英伟达：芯片霸主的顺风局与潜在危机 ⭐星标华尔街见闻，好内容不错过 ⭐ 本文不构成个人投资建议，不代表 平台 观点，市场有风险，投资需谨慎，请独立判断和决策。 一旦AI需求未如预期般持续，或其他技术突破 ...

Core Viewpoint - Amazon is favored over Microsoft as the better investment in the cloud computing sector due to its strong growth, AI integration, and cost advantages in its cloud services [1][15]. Amazon - Amazon Web Services (AWS) is the largest cloud computing provider globally, holding nearly 30% market share [3]. - AWS is Amazon's most profitable and fastest-growing segment, with a revenue increase of 17% last quarter, driven significantly by AI solutions [4]. - Amazon has developed custom AI chips, Trainium and Inferentia, which optimize performance and cost for AI tasks, providing a competitive edge over Microsoft [5]. - AI is also enhancing Amazon's e-commerce operations, with over 1 million autonomous robots improving warehouse efficiency and customer satisfaction [6]. - The company is leveraging AI for logistics optimization and enhancing third-party seller marketing through its growing digital ad platform [8]. Microsoft - Microsoft Azure has been a major growth driver, with a 33% year-over-year revenue increase last quarter, largely attributed to AI services [9]. - The company is facing capacity constraints and plans to increase capital spending in fiscal 2026, focusing on short-lived assets like GPUs and servers [10]. - Microsoft's early investment in OpenAI has been crucial for Azure's growth, integrating AI technology into its productivity tools [11]. - However, the relationship with OpenAI has become strained, with disputes over investment terms and access to intellectual property [13][14]. - Microsoft is working on developing its own AI chips, but delays have been reported for its next-generation Maia AI chip [17]. Comparative Analysis - Amazon's vertically integrated cloud platform offers a wide range of services, including custom chips and high-margin services, giving it a cost advantage [16]. - Microsoft relies on expensive Nvidia chips and AI models from OpenAI, facing more uncertainties despite Azure's rapid growth [17].

Core Insights - The market capitalization of Microsoft and Nvidia is approaching $4 trillion, driven by the AI frenzy, with Nvidia at $3.89 trillion and Microsoft at $3.71 trillion [1] Group 1: Nvidia - Nvidia's market capitalization reached $3.89 trillion, with a significant increase of 26.63% over the past year [2][3] - The company's sales have surged over tenfold in the past three years, and it is expected to maintain an annual growth rate of 32% over the next three years [7][8] - Nvidia's business model heavily relies on AI demand, posing a binary risk if AI demand does not meet expectations or if technological breakthroughs diminish the necessity of its chips [8] Group 2: Microsoft - Microsoft's market capitalization stands at $3.71 trillion, with a 6.69% increase over the past year [4][5] - The Azure cloud computing division's AI services generated approximately $11.5 billion in revenue for the last fiscal year, reflecting over 100% year-on-year growth, but this only accounts for 4% of the company's total revenue [9] - Microsoft faces internal operational pressures, including recent layoffs of 9,000 employees, and has a significant gap in employee efficiency compared to competitors like Google [9] - There are emerging tensions in Microsoft's partnership with OpenAI, particularly regarding the terms of their $100 billion collaboration, which may impact Microsoft's AI strategy [10]

英伟达和微软正接近成为4万亿美元公司，然而，两家巨头所代表的AI投资逻辑却截然不同——一个是对核心基础设施的 直接押注，另一个则是对应用生态普及的长期信念。 硬·AI 作者 | 张雅绮 编辑 | 硬 AI 在人工智能革命的推动下，微软与英伟达正双双冲向4万亿美元市值的巅峰，有望组成股票市场上最顶级的 俱乐部。 然而，尽管目标一致，两家巨头所代表的AI投资逻辑却截然不同—— 一个是对核心基础设施的直接押注， 另一个则是对应用生态普及的长期信念。 英伟达的价值飙升，源于其在AI价值链中的独特地位。作为AI"军备竞赛"的"军火商"，任何希望涉足AI领域 的公司都必须首先采购其芯片， 这使得英伟达的增长故事简单而直接。 相比之下，微软的路径更为复杂，其AI业务的回报也显得更为"模糊"。作为一家年收入远超英伟达的庞大企 业，微软的成功最终取决于是否有足够多的企业和消费者愿意为其AI增强服务支付溢价。 而微软则扮演着"服务商"的角色 。它的赌注在于，将AI技术深度融入其庞大的产品矩阵（如Azure云服务、 Office办公软件等），并说服用户为此付费。要实现这一目标，AI必须成为像几十年前的Windows操作系统 或Wo ...

Key Takeaways GitLab is gaining from strong demand for its DevSecOps platform and enterprise customer expansion. New releases, such as GitLab 18 and Duo with Amazon Q, are enhancing security, AI, and DevOps workflows. GTLB's partnerships with major cloud providers are boosting its footprint among large enterprises.GitLab (GTLB) is benefiting from strong demand for its DevSecOps platform. Its solutions, such as GitLab Ultimate, Dedicated, and GitLab Duo, play a significant role in driving customer adoption ...

Key Takeaways Neudesic renewed its Microsoft Cloud Security Specialization to secure hybrid and multi-cloud systems. The move deepens IBM's integration with Microsoft and strengthens its enterprise security offerings. The certification supports IBM's growth in cloud consulting, boosting its presence across key industries.Neudesic, a subsidiary of International Business Machines Corporation (IBM) , has renewed its Cloud Security Specialization with Microsoft Corporation (MSFT) to continue delivering enterp ...

而微软则扮演着"服务商"的角色。它的赌注在于，将AI技术深度融入其庞大的产品矩阵（如Azure云服 务、Office办公软件等），并说服用户为此付费。要实现这一目标，AI必须成为像几十年前的Windows 操作系统或Word软件一样，彻底改变企业运作和日常生活的颠覆性工具。许多人认为这只是时间问 题，但"何时"实现，对于支撑微软当前的高昂估值至关重要。 微软的烦恼：高估值下的内部挑战 在人工智能革命的推动下，微软与英伟达正双双冲向4万亿美元市值的巅峰，有望组成股票市场上最顶 级的俱乐部。 然而，尽管目标一致，两家巨头所代表的AI投资逻辑却截然不同——一个是对核心基础设施的直接押 注，另一个则是对应用生态普及的长期信念。 英伟达的价值飙升，源于其在AI价值链中的独特地位。作为AI"军备竞赛"的"军火商"，任何希望涉足AI 领域的公司都必须首先采购其芯片，这使得英伟达的增长故事简单而直接。 相比之下，微软的路径更为复杂，其AI业务的回报也显得更为"模糊"。作为一家年收入远超英伟达的庞 大企业，微软的成功最终取决于是否有足够多的企业和消费者愿意为其AI增强服务支付溢价。 对微软而言，微软在不到三个月内市值增长了1万 ...