《大行》野村料金山云(03896.HK)可受惠于训练及推理需求增长 维持“买入”评级

阿斯达克财经
Feb 05

野村发表研究报告指,金山云(03896.HK) 作为小米-W(01810.HK) 生态圈中唯一的人工智能云基础设施供应商,有望持续受惠于小米锐意发展大语言模型(LLM)的决心,潜在的H200芯片进口或能缓解公司在2026财年面临的短缺问题。受惠于持续强劲的LLM训练需求,以及消耗更多Token的智能体等应用所带动的推理需求增长所推动,野村相信今年中国AI投资周期仍在加速,相应将金山云2025至...

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