金吾财讯 | 布鲁金斯学会最新研究显示，到2032年，美国AI基建热潮或将需要10.3万亿美元投资，越来越多的金融风险正从大型科技公司资产负债表，转向透明度更低的融资架构。
哥伦比亚商学院教授Stijn Van Nieuwerburgh测算，2025至2032年，美国在数据中心、电力系统、网络与专用算力设备上的年均投入，约占美国GDP的3.6%。从经济占比来看，本轮AI基建投资规模，超过美国历史上铁路、高速公路、电气化、电信等历次基建投资热潮。持续扩张的投入规模，正在倒逼传统融资模式发生改变，过去云厂商主要依靠自有现金流与企业债来承担基建资金。
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