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分析:AI 領域交易三個月無回報 僅 DRAM 價格上漲

2026-09-23 12:04:58

ChainCatcher 消息,富達投資全球宏觀總監 Jurrien Timmer 在 X 平台表示,AI 領域交易已超過三個月處於"死錢"狀態,其跟蹤的 token 支出和 GPU 租賃費率均持平或下降,僅內存(DRAM)價格持續上漲。

Timmer 認為,AI 長期將改變生活,並可能釋放生產率奇蹟,使經濟非通脹速度上限提高到足以維持全球債務可持續的水平。但在此之前,當前的建設是通脹性的,對數萬億美元算力投資的回報尚不確定,企業股權和債務資本需求正以 3.3 萬億美元的速度增長。

分析:AI 領域交易三個月無回報 僅 DRAM 價格上漲

解讀
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