CONFLUENT(CFLT.O):下半年有望启动新一轮产品周期 当前估值隐含低迷预期

中信建投证券
Jul 17, 2025

核心观点Confluent 受益于AI,Gen AI 应用直接与C 端交互,尤其是音频交互下,延迟敏感度大幅提升,流处理将成为AI 应用的重要框架。流处理框架竞争方面,Kafka 具备充分竞争力。传统消息系统受通信协议、架构等影响难以兼顾实时性和扩展性,新兴框架Pulsar、Redpanda 等在大规模场景下延迟稳定性不足,而Kakfa则有望承接行业主要的场景需求。成长逻辑方面,流处理增长驱动力是...

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