大行評級|摩根大通:預期基礎設施即服務價值鏈將續表現優異 推薦阿里及快手
摩根大通發表研報,對中國生成式人工智能(Gen AI)發展建立四個階段的框架,並針對每個階段制定投資策略,並認爲Gen AI的發展將對該行覆蓋範圍內的公司基本面及股價產生多年的影響,預期基礎設施即服務(IAAS)價值鏈將繼續表現優異,主要由於中國Gen AI發展剛剛進入第二階段的開端,並將伴隨計算能力的快速增長。另外,高潛力的Gen AI應用受益者亦可能表現出色,儘管不確定性和風險較高,該行推薦阿里巴巴和快手。
摩通預計,中國的Gen AI發展將經歷一系列明確定義的階段,每個階段都伴隨着市場動態的重大轉變。因而建議投資者在第二階段關注IAAS價值鏈,並預期此階段Gen AI功能的採用將迅速普及;第三階段可轉向投資Gen AI應用受益者,一旦它們開始從Gen AI採用中實現財務收益;第四階段預期原生的Gen AI殺手級應用將出現並超越同行。
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