高盛大幅上调阿里资本开支预期至4600亿元:推理需求爆炸性增长,AI效率提高驱动更强收入

华尔街见闻
Oct 24, 2025

高盛认为,需求的爆炸式增长将继续推动云服务厂商的资本开支(Capex)上行。中国互联网巨头在AI领域的战略路径正日益分化,阿里巴巴凭借其全栈能力押注企业级AI云市场,而字节跳动则在消费级(To-C)应用上全力冲刺。 高盛在23日的报告中,上调了对中国头部云厂商的资本开支预测,预计阿里巴巴在2026至2028财年的合计资本开支将达到4600亿元人民币,远高于该公司此前3800亿元的目标。该行认为,...

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