算力市场格局分化:CoreWeave、Nebius冲刺短期高毛利,AWS深耕长约

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【算力市场格局分化:CoreWeave、Nebius冲刺短期高毛利,AWS深耕长约】上周,Nebius与CoreWeave均向投资者推介一项全新商业机会——短期算力合约。这两家新兴云厂商表示,借助此类合约,它们可以抓住GPU紧缺背景下AI算力价格暴涨的红利。市场投资者对此表示认可,两家公司股价均大幅走高。 就在新兴云厂商向投资者描绘短期交易带来丰厚利润率前景之际,云计算巨头亚马逊云科技在财报电话会上着重说明:其绝大多数AI算力采用五年期长约对外销售。亚马逊首席执行官安迪·贾西表示,长期合约能够保障AWS产生充足收入,覆盖数据中心扩建投入。投资者同样认可这套逻辑,自7月30日财报会议以来,亚马逊股价累计上涨超11%。目前,两家新兴云厂商只是适度增加短期合约布局。CoreWeave首席财务官尼廷·阿格拉瓦尔向分析师坦言,公司仅有“极小一部分”算力即将到期续约,限制了当下捕捉高价行情的空间。 据知情人士透露,CoreWeave将三年以内合约定义为短期合约,托管推理与其他按需服务均纳入该范畴。知情者表示,短期合约当前仅占公司总收入很小比重,主要因为大部分算力已被长期租出,但公司预计未来该占比持续提升。

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