AI 失意者：技术变革挑战现状-AI Losers_ Tech-tonic Shifts Threaten the Status Quo

Industry Note December 8, 2025 Analysts Seth Basham, CFA (212) 938-9954 Seth.Basham@wedbush.com Scott Devitt (646) 604-4230 scott.devitt@wedbush.com Dan Ives (212) 344-2073 Dan.Ives@wedbush.com Matt Bryson (617) 695-6302 matthew.bryson@wedbush.com Alicia Reese 212-938-9927 Alicia.Reese@wedbush.com Antoine Legault, CFA, CPA (626) 497-1619 antoine.legault@wedbush.com Steven Wahrhaftig (212) 931-7059 steven.wahrhaftig@wedbush.com Matthew Weiss (212) 931-7096 matthew.weiss@wedbush.com Sam Brandeis (212) 833-658 ...