金山云(KC)今日夜盘股价大幅上涨5.03%，引起了市场的广泛关注。
消息面上，近期谷歌云、亚马逊AWS等全球主要云服务商相继宣布涨价，华创证券分析指出，云厂商的涨价潮与人工智能(AI)开支的扩张共同重塑了AIDC（AI数据中心）产业的逻辑。这一趋势提升了算力资产的回报预期，而AI需求的爆发则抬升了产业规模的天花板，推动行业向高壁垒、高确定性的核心基础设施赛道升级，具备技术迭代和资源整合能力的头部厂商有望持续受益。
此外，野村发布研报特别指出，金山云作为小米集团生态圈中唯一的人工智能云基础设施供应商，有望持续受益于小米大力发展大语言模型(LLM)的战略。公司受惠于持续强劲的LLM训练需求，以及由消耗更多Token的智能体等应用所驱动的推理需求增长。基于此，野村相应上调了金山云2025至2027财年的收入预测。
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