【招商证券：AI投资预期不断调整 市场在担忧什么？】智通财经APP获悉，招商证券发布研报称，资本开支预期持续上修，但实际交付节奏仍存不确定性。主要科技企业不断提高未来投资计划，但部分企业三季报实际资本开支低于预期，反映设备及基础设施交付延迟等约束。当前市场仍预期资本开支增速于2026年三季度附近见顶，后续投资落地情况有待观察。
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