金吾财讯 | 美国对冲基金经理Michael Burry警告称，大型科技公司在AI基础设施上的巨额支出，最终可能导致大规模资产减记，这与以往的资本周期颇为相似。伯里在Substack发文指出，截至今年6月30日，标普500成分股公司净资本投资占美国GDP比重达2.07%，创下近四十年新高，仅次于2000年纳斯达克泡沫峰值后的阶段性水平。他预判，未来数个季度该比例将持续攀升，甚至超越当年科技泡沫后的峰值。数据显示，微软、亚马逊、谷歌、元宇宙、甲骨文五大科技企业，在AI基建布局中累计形成约3万亿美元远期采购、租赁、工程建设等履约风险敞口。伯里预测，2028至2029年或将迎来大规模资产减值潮，巨额远期履约义务将放大减值冲击，影响远超市场预期。
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