Tom Lee:90%+ AI 公司未来表现可能不佳

PANews

在谈到 AI 投资时,Tom Lee 指出一个残酷但关键的事实:未来十年,AI 公司中真正能成为好投资的,可能不超过 10%。
这与 2000 年互联网泡沫极为相似。彼时无数互联网公司消失,但仅 2% 的幸存者(亚马逊、谷歌)就足以让投资回报 大幅跑赢 S&P 500,即便其他 98% 都失败。

AI 也会呈现同样的结构性特征:

  • 90%+ 的企业最终会证明商业模式不可持续;
  • 头部赢家的爆发式回报将覆盖所有亏损,并依然能带来显著超额收益;
  • 因此,与其下注在单个公司,不如构建一个覆盖整个 AI 生态的“指数化组合”。
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