摩根大通发表研究报告指，金山云(03896.HK) (KC.US) 公布第三财季业绩后股价大涨，相信集团正实现向人工智能的战略转型，并拥抱小米-W(01810.HK) 及金山整个集团所带来的财务效益。因此，该行认为，金山云的人工智能收入增长前景的确定性高于许多其他AI股。
摩通相信，小米及金山软件(03888.HK) 对模型训练的GPU计算能力需求仍在增长，并将把大部分AI计算开支分配至金山云。另外，由于供应链管理日趋复杂，该行预期引入第三方供应商提供计算能力会对利润率造成负面影响。总该行维持金山云“增持”评级，美股目标价由4.2美元大幅上调至18.5美元，H股目标价由2.2港元大升至10港元。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-06-06 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
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