明确的展望，将在短期内带来信心的注入。但不容忽视的是，核心云厂商的资本开支占比已相对较高。尤其 2026 年 Meta 资本开支/收入的比值将提升至 5 成以上，进一步提升的空间相对有限，这依然是压制公司/行业估值的主要因素。
Consider what happens at scale. A single bug in OpenSSL — Heartbleed — exposed the private communications of millions of users, survived two years of code review, and cost the industry hundreds of millions of dollars to remediate. That was one bug, introduced by one human, in one library. AI is now generating code at a thousand times the speed, across every layer of the software stack, and the defenses we relied on (code review, testing, manual inspection) are the same ones that missed Heartbleed for two years.
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Гангстер одним ударом расправился с туристом в Таиланде и попал на видео18:08
Марина Совина (ночной редактор)