微软_Maia 200，更新后的推理成本曲线，及其对微软内部芯片战略的影响

22 February 2026 | 4:02PM EST Equity Research Microsoft Corp. (MSFT) Maia 200, an updated inference cost curve, and implications for Microsoft's internal silicon strategy MSFT 12m Price Target: $600.00 Price: $397.23 Upside: 51.0% Microsoft announced Maia 200, its updated custom accelerator for AI inference, on 1/26. Our initial understanding of Maia's benchmarks and our conversations in industry suggest that Microsoft has made meaningful progress on its internal silicon strategy over the past year. Before ...