$MSFT · Meet Kevin · 2026-11-09
说话者对 MSFT 持积极看法：乐见其接近 565，持有该股并且非常看好。他认为其 AI 方面的回撤和合作伙伴变化是向智能体计算的重组，而非对 AI 资本开支兴趣减弱，支出仍在膨胀。
逐段跳播
那么，Microsoft 怎么几乎回到 565 了？不错。这是另一只让我很兴奋的股票。
So, how's Microsoft almost back at the 565? Nice. That's another one I'm I'm excited about.
所以，我认为这背后的原因是 Microsoft 意识到我们需要更多智能体计算，而不只是训练计算。所以我认为这就是你看到 Microsoft 一些反复调整的原因之一。所以 MSFT 的一些反复调整，在我看来，来自我们需要更少训练、更多智能体。
因此规格会变，如果数据中心的事情被推迟，那我们就可以选择直接撤出、转投别人。如果事情被推迟，我们可以换一个不同的数据中心标的。这就是我对 Microsoft 正在做的事情的看法。
So, this right here is I think driven by Microsoft kind of seeing that we need more agentic compute rather than just training compute. And so I think that's one of the reasons you've seen some of these flip-flops from Microsoft.
So some of these flip-flops from MSFT IMO coming from we need less training and more agents. So therefore specs change if things if uh if things get delayed with the data centers that's our option to basically cut and run and go to somebody else.
If things get delayed, we can swap in a different data center play. It, you know, my take on what Microsoft is doing.
我认为 Microsoft 的这些动作基本上是一种重新安排。
You know, I think the Microsoft stuff is is a rearrangement basically.
在我们看好的 AI 赋能者中，我就是不喜欢 Google、Amazon、Meta、Microsoft、SpaceX，完全同意；虽然 Nvidia 不是超大规模云厂商，但它扮演着关键角色，完全同意。
among the AI enablers we favor I just don't like Google Amazon Meta Microsoft SpaceX totally agree while Nvidia isn't a hyperscaler it plays a key role totally agree
Coree 有一点很独特，甚至有点疯狂，那就是 Coreweave 很可能直接向 Microsoft 这样的公司收取预付款，然后它们实际上就不必借钱了。Microsoft 最终去借钱。
Corewave 去部署。这是一个想法，不保证。我们拭目以待。
One thing that's unique about Coree, which is kind of wild, is that Coreweave will probably just take upfront payments from a company like Microsoft and then they don't actually have to borrow.
Microsoft ends up borrowing. Corewave goes and deploys. It's an idea. No guarantees. We'll see.
他们说他们超配 Amazon、Meta、Microsoft、SpaceX 和 Nvidia。就我个人而言，这些名字我每一个都喜欢。
They say they're overweight Amazon, Meta, Microsoft, SpaceX, and Nvidia. Me personally, I like every single one of those names.
Amazon，我持有 MA，Amazon，持有 Meta，持有 Microsoft，持有 Nvidia，持有 SpaceX。非常看好所有这些。
Amazon, I own MA, Amazon, own Meta, own Microsoft, own Nvidia, own SpaceX. Big fan of all of these.
所以，Microsoft 正在逐步终止其 2023 年与 Oracle 的 AI 租赁协议。这是他们撤回的第二件事。第一件，我认为是 INE，然后现在是 Oracle。我认为正在发生的是，Microsoft 在说：我们需要更少训练，我们需要更多智能体。
所以他们的目标在变。所以现在他们试图换合作伙伴，因为现在他们喜欢的是深色头发而不是金发。这是我的看法。所以我不认为他们是对女性或 AI 资本开支兴趣减少了。我认为他们只是有点像在品味上稍微改变了主意。
[笑声] 这就是我认为 Microsoft 正在发生的事，因为支出还在不断膨胀。
So, Microsoft is winding down its 2023 Oracle AI rental agreement. This is the second thing that they've kind of pulled back. One, I think, was INE, and then now you've got Oracle.
I think what's happening is Microsoft is going, we need less training. We need more agents. And so the their goals are changing. So now they're trying to flip partners because now they're into brunettes instead of blondes.
That's my thing. So I don't think they're like less interested in women or AI capex. I think they're just kind of like changing their mind a little bit on on their taste. [laughter] That's what I think is happening with Microsoft because the spend keeps ballooning.
这个频道对 $MSFT 的历次判断
Meet Kevin 在这只股票上共 12 条判断，这里只列相邻的几条。