<p>作者：Emily Bary</p>
<p>根据 Bernstein 分析师的说法，谷歌与黑石集团之间的合资企业对 CoreWeave 来说并不是 “立即有问题”，而是市场可能会变得更加拥挤的一个迹象。</p>
<p>CoreWeave 的股票在周二的盘前交易中下跌。</p>
<p>谷歌与黑石集团之间的新合资企业似乎对新云计算股票施加了一些压力。</p>
<p>谷歌和黑石集团（BX）在周一晚间宣布，他们将合作创建一个专注于张量处理单元的新云计算平台，这些是谷歌的定制芯片。黑石计划在一开始投入 50 亿美元，以帮助明年上线 500 兆瓦的云计算能力。谷歌，作为 Alphabet（GOOG）（GOOGL）的一个部门，将提供芯片、软件和各种服务。</p>
<p>根据谷歌的一篇博客文章，这项安排为客户提供了 “更多选择和灵活性，以访问云 TPU”。</p>
<p>在周二的盘前交易中，CoreWeave（CRWV）和 Nebius Group（NBIS）的股票均下跌了 3%，投资者正在评估未来对租赁芯片能力的新云计算业务模型的威胁前景。</p>
<p>Bernstein 分析师 Madison Rezaei 指出，预计到 2027 年达到 500 兆瓦的规模，“这一公告相对于 CoreWeave 明年的预期规模来说是小的”。</p>
<p>不要错过：CoreWeave 从一个非常规客户那里获得了 70 亿美元的胜利。金融公司也想要 AI 芯片。</p>
<p>从这个意义上说，这项交易 “对 CoreWeave 来说并不是立即有问题”。然而，它 “代表了市场上更认真地进行超大规模攻击的开始，” 她补充道。</p>
<p>Rezaei 写道：“竞争的增加将对 [CoreWeave] 的新交易定价和利润率施加压力，并使 [CoreWeave] 向更以企业为主的基础过渡变得更加困难。”</p>
<p>在她看来，在资本成本、长期利润潜力和电力接入等领域，“一个结合了黑石和谷歌的实体应该在所有这些方面获胜。” Rezaei 对 CoreWeave 的股票给予了表现不佳的评级。</p>
<p>另见：CoreWeave 与大型科技公司的 “关系” 可能导致股票下跌。</p>
<p>CoreWeave 和 Nebius 的代表没有立即回复 MarketWatch 的评论请求。</p>
<p>与此同时，Alphabet 的股票在周二的盘前交易中小幅上涨，黑石的股票也是如此。TPU 已成为 Alphabet 的一个强大资产，该公司暗示计划在其定制芯片上做更多的事情。</p>
<p>-Emily Bary</p>
<p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和华尔街日报独立出版。</p>
<p>（完）道琼斯新闻通讯</p>
<p>05-19-26 0735ET</p>

谷歌-C

黑石集团

谷歌-A

<p>CoreWeave 的股票在盘前交易中下跌了 3%，原因是谷歌与黑石集团宣布成立一个新的云计算合资企业，专注于张量处理单元。虽然 Bernstein 的分析师 Madison Rezaei 指出这项交易对 CoreWeave 并没有立即造成问题，但它表明竞争加剧，可能会对定价和利润率施加压力。Rezaei 对 CoreWeave 的股票维持 “表现不佳” 的评级，认为谷歌与黑石的合并实体在资本成本和长期利润潜力方面可能具有优势</p>

<p>By Emily Bary</p>
<div class="lb-trans"><p>作者：Emily Bary</p>
</div><p>A joint venture between Google and Blackstone isn't 'immediately problematic' for CoreWeave, but rather a sign that the market could get more crowded, according to a Bernstein analyst</p>
<div class="lb-trans"><p>根据 Bernstein 分析师的说法，谷歌与黑石集团之间的合资企业对 CoreWeave 来说并不是 “立即有问题”，而是市场可能会变得更加拥挤的一个迹象。</p>
</div><p>CoreWeave's stock is dropping in Tuesday's premarket action.</p>
<div class="lb-trans"><p>CoreWeave 的股票在周二的盘前交易中下跌。</p>
</div><p>A new joint venture between Google and Blackstone looks to be putting some pressure on neocloud stocks.</p>
<div class="lb-trans"><p>谷歌与黑石集团之间的新合资企业似乎对新云计算股票施加了一些压力。</p>
</div><p>Google and Blackstone (BX) announced late Monday that they would team up to create a new cloud focused on tensor processing units, which are Google's custom chips. Blackstone plans to commit $5 billion at the outset to help bring 500 megawatts of cloud capacity online next year. Google, a unit of Alphabet (GOOG) (GOOGL), will supply the chips, software and various services.</p>
<div class="lb-trans"><p>谷歌和黑石集团（BX）在周一晚间宣布，他们将合作创建一个专注于张量处理单元的新云计算平台，这些是谷歌的定制芯片。黑石计划在一开始投入 50 亿美元，以帮助明年上线 500 兆瓦的云计算能力。谷歌，作为 Alphabet（GOOG）（GOOGL）的一个部门，将提供芯片、软件和各种服务。</p>
</div><p>The arrangement offers customers &#34;more choice and flexibility in how they access cloud TPUs,&#34; according to a Google blog post.</p>
<div class="lb-trans"><p>根据谷歌的一篇博客文章，这项安排为客户提供了 “更多选择和灵活性，以访问云 TPU”。</p>
</div><p>Shares of CoreWeave (CRWV) and Nebius Group (NBIS) were both down 3% in premarket trading Tuesday, with investors assessing the prospect of future threats to the business models of neoclouds, which rent out chip capacity.</p>
<div class="lb-trans"><p>在周二的盘前交易中，CoreWeave（CRWV）和 Nebius Group（NBIS）的股票均下跌了 3%，投资者正在评估未来对租赁芯片能力的新云计算业务模型的威胁前景。</p>
</div><p>Bernstein analyst Madison Rezaei noted that, at an anticipated 500 megawatts for 2027, &#34;this announcement is small&#34; relative to CoreWeave's expected scale for next year.</p>
<div class="lb-trans"><p>Bernstein 分析师 Madison Rezaei 指出，预计到 2027 年达到 500 兆瓦的规模，“这一公告相对于 CoreWeave 明年的预期规模来说是小的”。</p>
</div><p>Don't miss: CoreWeave gets a $7 billion win from an unconventional customer. Financial firms want AI chips, too.</p>
<div class="lb-trans"><p>不要错过：CoreWeave 从一个非常规客户那里获得了 70 亿美元的胜利。金融公司也想要 AI 芯片。</p>
</div><p>In that sense, the deal &#34;is not immediately problematic&#34; for CoreWeave. However, it &#34;represents the beginning of a more earnest hyperscale attack of the market,&#34; she added.</p>
<div class="lb-trans"><p>从这个意义上说，这项交易 “对 CoreWeave 来说并不是立即有问题”。然而，它 “代表了市场上更认真地进行超大规模攻击的开始，” 她补充道。</p>
</div><p>&#34;An increase in competition will pressure [CoreWeave's] pricing and margins on new deals and make it more difficult for [CoreWeave] to transition towards a more enterprise-heavy base,&#34; Rezaei wrote.</p>
<div class="lb-trans"><p>Rezaei 写道：“竞争的增加将对 [CoreWeave] 的新交易定价和利润率施加压力，并使 [CoreWeave] 向更以企业为主的基础过渡变得更加困难。”</p>
</div><p>In her view, when it comes to areas like cost of capital, long-term margin potential and power access, &#34;a combined Blackstone + Google entity should win across all of those fronts.&#34; Rezaei has an underperform rating on CoreWeave's stock.</p>
<div class="lb-trans"><p>在她看来，在资本成本、长期利润潜力和电力接入等领域，“一个结合了黑石和谷歌的实体应该在所有这些方面获胜。” Rezaei 对 CoreWeave 的股票给予了表现不佳的评级。</p>
</div><p>See also: How CoreWeave's 'situationship' with Big Tech could cause a stock drop</p>
<div class="lb-trans"><p>另见：CoreWeave 与大型科技公司的 “关系” 可能导致股票下跌。</p>
</div><p>Representatives from CoreWeave and Nebius didn't immediately return a MarketWatch request for comment.</p>
<div class="lb-trans"><p>CoreWeave 和 Nebius 的代表没有立即回复 MarketWatch 的评论请求。</p>
</div><p>Meanwhile, Alphabet shares were up fractionally in Tuesday's premarket action, as are Blackstone shares. TPUs have become a powerful asset for Alphabet, and the company has teased that it plans to do more with its custom chips.</p>
<div class="lb-trans"><p>与此同时，Alphabet 的股票在周二的盘前交易中小幅上涨，黑石的股票也是如此。TPU 已成为 Alphabet 的一个强大资产，该公司暗示计划在其定制芯片上做更多的事情。</p>
</div><p>-Emily Bary</p>
<div class="lb-trans"><p>-Emily Bary</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和华尔街日报独立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道琼斯新闻通讯</p>
</div><p>05-19-26 0735ET</p>
<div class="lb-trans"><p>05-19-26 0735ET</p>
</div>

CoreWeave's stock falls as new Google cloud venture may signal more competition ahead

- 谷歌与黑石的合资企业将释放 5 亿美元云计算资源。  
- CoreWeave 股票在预售交易中下跌，面临竞争压力。  
- 分析师认为，此次合作标志市场竞争的加剧，但对 CoreWeave 影响不大。

Dow Jones

Coreweave

CoreWeave 的股价下跌，原因是谷歌新的云业务可能预示着未来竞争加剧