<p>Bentley Systems NASDAQ: BSY 的董事长 Greg Bentley 在摩根大通波士顿 TMC 会议上阐述了基础设施软件公司为何将人工智能视为长期增长驱动力，同时承认某些与人工智能相关的能力的商业化仍处于早期阶段。</p>
<p>获取 <strong>Bentley Systems</strong> 的提醒：</p>
<p>在摩根大通的 Alexei Gogolev 主持的讨论中，Bentley 表示公司的管理团队专注于 “基础设施人工智能”，并认为人工智能正在加速 Bentley 软件开发以及基础设施设计、运营和维护的更广泛变化。</p>
<p>Bentley 表示，工程公司是其最大的客户群体，正面临创纪录的积压，而基础设施工程师的数量每年仅增长约 1%。他表示，这一短缺导致了对效率工具的需求，这些工具可以帮助公司在不依赖额外人力的情况下完成更多工作。</p>
<h2>专注于设计优化的人工智能</h2>
<p>Bentley 表示，人工智能可以让工程师超越单一设计方法，利用自主系统在潜在设计中进行 “数百到数千次迭代”。他提到的机会包括通过 Bentley 的 SYNCHRO 应用程序优化可建造性、降低地下风险、重用先前的设计模块以及利用 Bentley Infrastructure Cloud 的数据提高性能。</p>
<p>他将软件机会框架置于基础设施项目总成本的背景下。根据 Bentley 的说法，设计历史上平均占总安装成本的约 5%，而软件在设计账单中占比约 1%，即整体项目成本的约 5 个基点。</p>
<p>“业主在项目中不会对优化和减少花费在软件上的 5 个基点感兴趣，因为这可以使项目风险降低并表现得更好，” Bentley 说。</p>
<p>在业主 - 运营方方面，Bentley 表示更大的机会在于运营和维护。他表示，在资产的剩余运营生命周期中，项目设计期间产生的工程逻辑往往未被使用，而在此期间发生的成本占总成本的 80%。Bentley 表示，人工智能驱动的资产分析可以结合无人机捕捉和工程模型，以确定是否需要维护，并帮助确保基础设施的安全。</p>
<h2>STAAD MCP 服务器仍处于探索阶段</h2>
<p>在被问及最近发布的 STAAD MCP 服务器和基于令牌的 API 消费定价时，Bentley 表示该产品仅在几周前发布，并已看到 “超过几百次下载”，尽管公司无法计算通过 Claude 本身进行的下载。</p>
<p>他表示，Bentley 不期望今年从 API 消费或 MCP 消费中获得商业化收益。相反，公司希望客户在没有商业障碍的情况下对这些工具进行实验。</p>
<p>“我们的决心是通过让我们的客户尽可能多地探索和实验 API 和 MCP 服务来实现长期利益，而不打算在今年进行商业化，” Bentley 说。</p>
<p>Bentley 表示，初始的 API 和 MCP 服务在工程师的桌面上执行，降低了公司近期的成本风险。他补充说，客户可能能够在完成一个人类速度的迭代所需的时间内以 “机器速度” 执行数百次迭代。</p>
<p>Bentley 还表示，公司有 220 个账户每年花费超过 100 万美元，820 个账户每年花费 25 万美元或更多。他表示，许多大型客户已经在人工智能研发方面进行投资，并在 Bentley 产品中使用现有的 API，尽管 Bentley 目前并不跟踪或商业化这种使用。</p>
<h2>数据所有权和竞争定位</h2>
<p>关于水平人工智能平台或开源工具可能复制 Bentley 功能的风险，Bentley 表示 STAAD 用户通常更喜欢商业产品，并指出 STAAD 理解相关司法管辖区的设计规范。他表示，工程公司通过使用已经被工程师接受并由一些业主客户要求的成熟工具可以获得更多收益。</p>
<p>Bentley 还强调，公司认为客户数据仍然是客户的知识产权。他表示，基础设施设计数据是敏感的，因为它包含机场、废水系统和电网等关键资产，无法完全匿名，因为它是地理定位的。</p>
<p>“我们有责任保护和管理这些数据，” Bentley 说。</p>
<p>他说，Bentley 不寻求使用客户数据进行人工智能训练的长期许可。相反，公司可能会请求特定项目的授权，并维护数据协议的注册。</p>
<h2>资产分析和 Seequent 增长</h2>
<p>Bentley 表示，资产分析最近达到了 5000 万美元的收入运行率。他将这部分收入描述为经常性收入，但表示并不总是被归类为年度经常性收入，因为某些检查或与建设相关的订阅可能并不每年续订。</p>
<p>他提到，蜂窝塔、道路里程、与 Google 街景相关的数据和配电杆是当前收入基础的贡献领域。在美国，他表示配电杆检查每五年需要进行一次，这影响了公司对 ARR 分类的看法。</p>
<p>Bentley 表示，公司正在努力使业务在实质上和合同上更具年度性，鼓励更定期的无人机或其他调查捕捉，增加人工智能以提取更多价值并改善包装。</p>
<p>谈到 Seequent，Bentley 表示他在近五年前收购了该业务，自收购以来该业务有所增长，其土木基础设施部分已成为 “非常显著的两位数比例”。他说，Bentley 顶级设计公司账户中近一半使用 Seequent 进行地下建模和基于地面的设计，他看到进一步的机会，因为地面条件是项目超支风险的主要来源。</p>
<h2>E365 续订和收购优先事项</h2>
<p>Bentley 表示，该公司的 E365 消费计划现在占年度经常性收入（ARR）的 46%。他提到续订的增加包括年度价格上涨，通常在中个位数范围内，以及对未来消费的协商底线和上限。Bentley 说，平均协商的价格区间增加在各个地区和账户规模中约为 10%。</p>
<p>关于资本配置，Bentley 表示公司已将杠杆降低至 2 倍以下，这被视为 “可接受的最佳水平”，并且由于现金流超过 5 亿美元，具有大约 4 亿美元的年度收购能力。他表示，收购仍然是优先事项，特别是针对资产分析中额外资产类型的人工智能能力以及可以扩展工程优化维度的成熟仿真引擎。</p>
<p>Bentley 表示，公司还将继续进行股票回购，但他将收购视为更高的优先事项。</p>
<h2>关于 Bentley Systems NASDAQ: BSY</h2>
<p>Bentley Systems, Inc 是一家全球软件提供商，专注于基础设施工程应用，涵盖道路、桥梁、铁路和交通系统、水和废水网络、电厂和电网、工业设施以及通信基础设施的设计、建设和运营。该公司由 Keith 和 Barry Bentley 兄弟于 1984 年创立，总部位于宾夕法尼亚州的埃克斯顿，并在北美、欧洲、亚洲和澳大利亚设有办事处和开发中心。</p>
<p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。如对本故事有任何问题或意见，请发送邮件至 contact@marketbeat.com.</em></p>
<h2>你现在应该投资 1,000 美元于 Bentley Systems 吗？</h2>
<p>在考虑投资 Bentley Systems 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐在更广泛的市场注意到之前立即购买……而 Bentley Systems 并不在名单上。</p>
<p>虽然 Bentley Systems 目前在分析师中获得了适度买入评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

美国基础设施发展 ETF - GlobalX

标普全球基础设施股指数 ETF - iShares

<p>Bentley Systems 董事长 Greg Bentley 在摩根大通波士顿 TMC 会议上强调了公司对 “基础设施人工智能” 的关注，指出尽管早期货币化面临挑战，但其作为长期增长驱动力的潜力。他讨论了由于劳动力短缺，工程领域对效率工具的需求，并概述了人工智能在设计优化和资产维护方面的机会。Bentley 指出，尽管最近推出的 STAAD MCP 服务器仍处于探索阶段，但公司旨在鼓励客户进行实验，而不追求立即的货币化。资产分析的收入年化率已达到 5000 万美元</p>

<p>Bentley Systems NASDAQ: BSY Chairman Greg Bentley used an appearance at the J.P. Morgan Boston TMC Conference to outline why the infrastructure software company sees artificial intelligence as a long-term growth driver, while acknowledging that commercial monetization of some AI-related capabilities is still in its early stages.</p>
<div class="lb-trans"><p>Bentley Systems NASDAQ: BSY 的董事长 Greg Bentley 在摩根大通波士顿 TMC 会议上阐述了基础设施软件公司为何将人工智能视为长期增长驱动力，同时承认某些与人工智能相关的能力的商业化仍处于早期阶段。</p>
</div><p>Get <strong>Bentley Systems</strong> alerts:</p>
<div class="lb-trans"><p>获取 <strong>Bentley Systems</strong> 的提醒：</p>
</div><p>In a discussion hosted by J.P. Morgan’s Alexei Gogolev, Bentley said the company’s management team is focused on “infrastructure AI” and argued that AI is accelerating both Bentley’s software development and broader changes in how infrastructure is designed, operated and maintained.</p>
<div class="lb-trans"><p>在摩根大通的 Alexei Gogolev 主持的讨论中，Bentley 表示公司的管理团队专注于 “基础设施人工智能”，并认为人工智能正在加速 Bentley 软件开发以及基础设施设计、运营和维护的更广泛变化。</p>
</div><p>Bentley said engineering firms, which he described as the company’s largest constituency, are facing record backlogs while the number of infrastructure engineers is growing only about 1% per year. That shortage, he said, creates a need for efficiency tools that can help firms do more work without relying on additional headcount.</p>
<div class="lb-trans"><p>Bentley 表示，工程公司是其最大的客户群体，正面临创纪录的积压，而基础设施工程师的数量每年仅增长约 1%。他表示，这一短缺导致了对效率工具的需求，这些工具可以帮助公司在不依赖额外人力的情况下完成更多工作。</p>
</div><h2>AI Focused on Design Optimization</h2>
<div class="lb-trans"><h2>专注于设计优化的人工智能</h2>
</div><p>Bentley said AI could allow engineers to move beyond a single design approach and use agentic systems to run “hundreds and thousands of iterations” across potential designs. He said the opportunity includes optimizing constructability through Bentley’s SYNCHRO applications, mitigating subsurface risk, reusing prior design modules and improving performance using data from Bentley Infrastructure Cloud.</p>
<div class="lb-trans"><p>Bentley 表示，人工智能可以让工程师超越单一设计方法，利用自主系统在潜在设计中进行 “数百到数千次迭代”。他提到的机会包括通过 Bentley 的 SYNCHRO 应用程序优化可建造性、降低地下风险、重用先前的设计模块以及利用 Bentley Infrastructure Cloud 的数据提高性能。</p>
</div><p>He framed the software opportunity in the context of total infrastructure project costs. According to Bentley, design has historically averaged about 5% of total installed cost, while software has represented about 1% of design billings, or roughly 5 basis points of overall project cost.</p>
<div class="lb-trans"><p>他将软件机会框架置于基础设施项目总成本的背景下。根据 Bentley 的说法，设计历史上平均占总安装成本的约 5%，而软件在设计账单中占比约 1%，即整体项目成本的约 5 个基点。</p>
</div><p>“The owner will not be interested in optimizing and reducing the five basis points spent on software in the project when it can be a de-risked project and perform much better,” Bentley said.</p>
<div class="lb-trans"><p>“业主在项目中不会对优化和减少花费在软件上的 5 个基点感兴趣，因为这可以使项目风险降低并表现得更好，” Bentley 说。</p>
</div><p>On the owner-operator side, Bentley said the larger opportunity is in operations and maintenance. He said engineering logic created during project design is often not used during the remaining operating life of an asset, where he said 80% of costs occur. Bentley said AI-enabled asset analytics can combine drone capture and engineering models to determine whether maintenance is needed and help ensure infrastructure remains safe.</p>
<div class="lb-trans"><p>在业主 - 运营方方面，Bentley 表示更大的机会在于运营和维护。他表示，在资产的剩余运营生命周期中，项目设计期间产生的工程逻辑往往未被使用，而在此期间发生的成本占总成本的 80%。Bentley 表示，人工智能驱动的资产分析可以结合无人机捕捉和工程模型，以确定是否需要维护，并帮助确保基础设施的安全。</p>
</div><h2>STAAD MCP Server Still in Exploration Phase</h2>
<div class="lb-trans"><h2>STAAD MCP 服务器仍处于探索阶段</h2>
</div><p>Asked about the recently released STAAD MCP server and potential token-based pricing for API consumption, Bentley said the product had been available for only a couple of weeks and had seen “more than a couple hundred downloads,” though the company cannot count downloads made through Claude itself.</p>
<div class="lb-trans"><p>在被问及最近发布的 STAAD MCP 服务器和基于令牌的 API 消费定价时，Bentley 表示该产品仅在几周前发布，并已看到 “超过几百次下载”，尽管公司无法计算通过 Claude 本身进行的下载。</p>
</div><p>He said Bentley does not expect monetization from API consumption or MCP consumption this year. Instead, the company wants customers to experiment with the tools without a commercial barrier.</p>
<div class="lb-trans"><p>他表示，Bentley 不期望今年从 API 消费或 MCP 消费中获得商业化收益。相反，公司希望客户在没有商业障碍的情况下对这些工具进行实验。</p>
</div><p>“Our determination is to benefit the long term by having our accounts do as much exploration and experimentation with the APIs and MCP services as they can do with no intention to monetize it during this year,” Bentley said.</p>
<div class="lb-trans"><p>“我们的决心是通过让我们的客户尽可能多地探索和实验 API 和 MCP 服务来实现长期利益，而不打算在今年进行商业化，” Bentley 说。</p>
</div><p>Bentley said the initial APIs and MCP services execute on an engineer’s desktop, reducing near-term cost risk for the company. He added that customers may be able to perform hundreds of iterations “at machine speed” in the time it would have taken to complete one at human speed.</p>
<div class="lb-trans"><p>Bentley 表示，初始的 API 和 MCP 服务在工程师的桌面上执行，降低了公司近期的成本风险。他补充说，客户可能能够在完成一个人类速度的迭代所需的时间内以 “机器速度” 执行数百次迭代。</p>
</div><p>Bentley also said the company has 220 accounts spending more than $1 million annually and 820 accounts spending $250,000 or more. He said many large customers are already investing in AI research and development and using existing APIs inside Bentley products, though Bentley does not currently track or monetize that usage.</p>
<div class="lb-trans"><p>Bentley 还表示，公司有 220 个账户每年花费超过 100 万美元，820 个账户每年花费 25 万美元或更多。他表示，许多大型客户已经在人工智能研发方面进行投资，并在 Bentley 产品中使用现有的 API，尽管 Bentley 目前并不跟踪或商业化这种使用。</p>
</div><h2>Data Ownership and Competitive Positioning</h2>
<div class="lb-trans"><h2>数据所有权和竞争定位</h2>
</div><p>On the risk that horizontal AI platforms or open-source tools could replicate Bentley functionality, Bentley said STAAD users generally prefer commercial products and noted that STAAD understands design codes in relevant jurisdictions. He said engineering firms have more to gain by using proven tools already accepted by engineers and mandated by some owner clients.</p>
<div class="lb-trans"><p>关于水平人工智能平台或开源工具可能复制 Bentley 功能的风险，Bentley 表示 STAAD 用户通常更喜欢商业产品，并指出 STAAD 理解相关司法管辖区的设计规范。他表示，工程公司通过使用已经被工程师接受并由一些业主客户要求的成熟工具可以获得更多收益。</p>
</div><p>Bentley also emphasized the company’s position that customer data remains customer intellectual property. He said infrastructure design data is sensitive because it includes critical assets such as airports, wastewater systems and grids, and cannot be fully anonymized because it is geolocated.</p>
<div class="lb-trans"><p>Bentley 还强调，公司认为客户数据仍然是客户的知识产权。他表示，基础设施设计数据是敏感的，因为它包含机场、废水系统和电网等关键资产，无法完全匿名，因为它是地理定位的。</p>
</div><p>“We have a responsibility to secure it and steward it,” Bentley said.</p>
<div class="lb-trans"><p>“我们有责任保护和管理这些数据，” Bentley 说。</p>
</div><p>He said Bentley does not seek standing permission to use customer data for AI training. Instead, the company may request authorization for specific projects and maintain a registry of data agreements.</p>
<div class="lb-trans"><p>他说，Bentley 不寻求使用客户数据进行人工智能训练的长期许可。相反，公司可能会请求特定项目的授权，并维护数据协议的注册。</p>
</div><h2>Asset Analytics and Seequent Growth</h2>
<div class="lb-trans"><h2>资产分析和 Seequent 增长</h2>
</div><p>Bentley said Asset Analytics recently crossed a $50 million revenue run rate. He described the revenue as recurring but said it is not always classified as annual recurring revenue because some inspections or construction-related subscriptions may not renew every year.</p>
<div class="lb-trans"><p>Bentley 表示，资产分析最近达到了 5000 万美元的收入运行率。他将这部分收入描述为经常性收入，但表示并不总是被归类为年度经常性收入，因为某些检查或与建设相关的订阅可能并不每年续订。</p>
</div><p>He cited cell towers, roadway miles, Google Street View-related data and distribution poles as areas contributing to the current revenue base. In the United States, he said distribution pole inspections are required every five years, which affects how the company views ARR classification.</p>
<div class="lb-trans"><p>他提到，蜂窝塔、道路里程、与 Google 街景相关的数据和配电杆是当前收入基础的贡献领域。在美国，他表示配电杆检查每五年需要进行一次，这影响了公司对 ARR 分类的看法。</p>
</div><p>Bentley said the company is working to make the business more substantively and contractually annual by encouraging more regular drone or other survey capture, adding AI to extract more value and improving packaging.</p>
<div class="lb-trans"><p>Bentley 表示，公司正在努力使业务在实质上和合同上更具年度性，鼓励更定期的无人机或其他调查捕捉，增加人工智能以提取更多价值并改善包装。</p>
</div><p>Discussing Seequent, which Bentley acquired nearly five years ago, Bentley said the business has grown since the acquisition and that its civil infrastructure portion has become a “very significant double-digit proportion.” He said not quite half of Bentley’s top design firm accounts use Seequent for subsurface modeling and ground-informed design, and he sees further opportunity because ground conditions are a major source of project overrun risk.</p>
<div class="lb-trans"><p>谈到 Seequent，Bentley 表示他在近五年前收购了该业务，自收购以来该业务有所增长，其土木基础设施部分已成为 “非常显著的两位数比例”。他说，Bentley 顶级设计公司账户中近一半使用 Seequent 进行地下建模和基于地面的设计，他看到进一步的机会，因为地面条件是项目超支风险的主要来源。</p>
</div><h2>E365 Renewals and Acquisition Priorities</h2>
<div class="lb-trans"><h2>E365 续订和收购优先事项</h2>
</div><p>Bentley said the company’s E365 consumption program now represents 46% of ARR. He said renewal increases include annual price escalation, typically in the mid-single digits, along with negotiated floors and ceilings on future consumption. Bentley said the average negotiated collar increase has been about 10% across geographies and account sizes.</p>
<div class="lb-trans"><p>Bentley 表示，该公司的 E365 消费计划现在占年度经常性收入（ARR）的 46%。他提到续订的增加包括年度价格上涨，通常在中个位数范围内，以及对未来消费的协商底线和上限。Bentley 说，平均协商的价格区间增加在各个地区和账户规模中约为 10%。</p>
</div><p>On capital allocation, Bentley said the company has reduced leverage to under 2x, which it views as “tolerably optimal,” and has capacity for roughly $400 million of annual acquisitions given cash flow above $500 million. He said acquisitions remain a priority, particularly AI capabilities for additional asset types in Asset Analytics and established simulation engines that could expand the dimensions of engineering optimization.</p>
<div class="lb-trans"><p>关于资本配置，Bentley 表示公司已将杠杆降低至 2 倍以下，这被视为 “可接受的最佳水平”，并且由于现金流超过 5 亿美元，具有大约 4 亿美元的年度收购能力。他表示，收购仍然是优先事项，特别是针对资产分析中额外资产类型的人工智能能力以及可以扩展工程优化维度的成熟仿真引擎。</p>
</div><p>Bentley said the company will also continue share repurchases, but he characterized acquisitions as the higher priority.</p>
<div class="lb-trans"><p>Bentley 表示，公司还将继续进行股票回购，但他将收购视为更高的优先事项。</p>
</div><h2>About Bentley Systems NASDAQ: BSY</h2>
<div class="lb-trans"><h2>关于 Bentley Systems NASDAQ: BSY</h2>
</div><p>Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.</p>
<div class="lb-trans"><p>Bentley Systems, Inc 是一家全球软件提供商，专注于基础设施工程应用，涵盖道路、桥梁、铁路和交通系统、水和废水网络、电厂和电网、工业设施以及通信基础设施的设计、建设和运营。该公司由 Keith 和 Barry Bentley 兄弟于 1984 年创立，总部位于宾夕法尼亚州的埃克斯顿，并在北美、欧洲、亚洲和澳大利亚设有办事处和开发中心。</p>
</div><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p>
<div class="lb-trans"><p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。如对本故事有任何问题或意见，请发送邮件至 contact@marketbeat.com.</em></p>
</div><h2>Should You Invest $1,000 in Bentley Systems Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1,000 美元于 Bentley Systems 吗？</h2>
</div><p>Before you consider Bentley Systems, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑投资 Bentley Systems 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bentley Systems wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐在更广泛的市场注意到之前立即购买……而 Bentley Systems 并不在名单上。</p>
</div><p>While Bentley Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 Bentley Systems 目前在分析师中获得了适度买入评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

Bentley Systems Bets on Infrastructure AI as Monetization Remains in Early Innings

Market Beat

Bentley Systems - B

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Bentley Systems 押注于基础设施 AI，因为其货币化仍处于初期阶段