--- title: "着名沽空投资者查诺斯把人工智能热潮与科网股泡沫相提并论" description: "着名沽空投资者查诺斯在接受《彭博电视》采访时警告，信贷和股市在经历 16 年牛市后，情况极端。他将人工智能的资本支出热潮比作 1990 年代的科网股泡沫，认为人工智能是当前金融周期的替代理念。查诺斯对人工智能基础设施的巨大资本支出表示担忧，指出这些支出远超互联网时代的融资规模，并提到英伟达和微软等公司在处理设备折旧和资本需求方面的创新融资安排。" type: "news" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/262329325.md" published_at: "2025-10-23T01:16:16.000Z" --- # 着名沽空投资者查诺斯把人工智能热潮与科网股泡沫相提并论 > 着名沽空投资者查诺斯在接受《彭博电视》采访时警告，信贷和股市在经历 16 年牛市后，情况极端。他将人工智能的资本支出热潮比作 1990 年代的科网股泡沫，认为人工智能是当前金融周期的替代理念。查诺斯对人工智能基础设施的巨大资本支出表示担忧，指出这些支出远超互联网时代的融资规模，并提到英伟达和微软等公司在处理设备折旧和资本需求方面的创新融资安排。 着名沽空投资者查诺斯 (Jim Chanos) 接受《彭博电视》访问时警告，信贷和股市经历 16 年牛市后，情况相当极端，并把人工智能资本支出热潮比作 1990 年代科网股泡沫，指人工智能类似互联网在 90 年代科技领域的主导地位，是目前金融周期的替代理念。 查诺斯对人工智能基建巨大资本支出感到担忧，指有关支出远超互联网时代供应商融资规模的约 1,000 亿美元。他点名英伟达 (NVDA.US) 及微软 (MSFT.US) 等大型科技公司，正似乎愿不惜一切将实际设备从资产负债表中移除，通过创新融资安排实现。 他认为有关企业担心设备折旧和相关会计处理，以及他们不想直接记录在资产负债表上的巨大资本需求。 ### Related Stocks - [STECH.HK - 恒生科技指数](https://longbridge.com/zh-CN/quote/STECH.HK.md) - [MSFT.US - 微软](https://longbridge.com/zh-CN/quote/MSFT.US.md) - [NVDA.US - 英伟达](https://longbridge.com/zh-CN/quote/NVDA.US.md) - [03690.HK - 美团-W](https://longbridge.com/zh-CN/quote/03690.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | FACTBOX-Tech majors commit billions of dollars to India at AI summit | At the recent AI summit in India, major tech firms announced significant investments in AI infrastructure. Reliance Indu | [Link](https://longbridge.com/zh-CN/news/276314058.md) | | Meta Revives Smartwatch Plans Amid Wearables Boom | Meta Platforms is set to revive its smartwatch plans, launching the "Malibu 2" later this year after previously shelving | [Link](https://longbridge.com/zh-CN/news/276305022.md) | | Microsoft is bringing a built-in network speed test to Windows 11 | Microsoft is introducing a built-in network speed test feature for Windows 11, accessible via the taskbar. This tool is | [Link](https://longbridge.com/zh-CN/news/276260991.md) | | Recent Filing Shows That Rep. Daniel Meuser Sold Over $2K Worth of NVIDIA Stock | Representative Daniel Meuser recently filed a sale of NVIDIA stock valued between $2,002 and $30,000, with the transacti | [Link](https://longbridge.com/zh-CN/news/276243670.md) | | Soros Fund Management Reports Share Stake Tesla, Raises Stake In Nvidia And Microsoft | Soros Fund Management has reported its latest shareholdings, revealing a stake of 56,661 shares in Tesla and an increase | [Link](https://longbridge.com/zh-CN/news/275951752.md) | --- > **免责声明**：本文内容仅供参考，不构成任何投资建议。