亿万富翁投资者肯·格里芬周二表示，随着企业为满足对数据中心和模型的需求而大举举债，投资者正在面对一场人工智能（AI）泡沫。
Billionaire investor Ken Griffin said Tuesday that investors are dealing with an artificial intelligence (AI) bubble, as companies rack up debt to satisfy their demand for data centers and models.
“在这个时刻，几乎可以肯定存在泡沫。任何对我们经济的根本性变革通常都与泡沫交织在一起，”Citadel 创始人格里芬在该公司的“全球市场未来大会”上对彭博社的 Dani Burger 说道。
“There’s almost certainly bubbles within this moment in time. And any radical transformation of our economy is generally intertwined with a bubble,” Griffin, the founder of Citadel, told Bloomberg’s Dani Burger at his firm’s Future of Global Markets Conference.
这位 Citadel 首席执行官指出，美国企业界“在从 AI 模型中提取价值的能力方面表现非常不均衡”。
The Citadel CEO noted that corporate America “has been very uneven in its ability to extract value” from AI models.
随着 AI 基建持续推进，主要科技公司的债务今年大幅堆积。根据 LSEG 数据，引领这波建设热潮的公司——亚马逊、CoreWeave、谷歌、Meta、微软和甲骨文——截至 8 月初已发行 1930 亿美元债券，而 2024 年全年仅为 167 亿美元。
Debt held by major tech companies has piled up this year, as the AI buildout marches on. The companies leading the buildout — Amazon, CoreWeave, Google, Meta, Microsoft and Oracle — had issued $193 billion in bonds as of early August, up from $16.7 billion in 2024, according to data from LSEG.
展望未来，根据布鲁金斯学会的预测，从去年到 2032 年，数据中心、网络基础设施和其他 AI 建设所需设备的投资总额将达到 10.3 万亿美元。
Looking ahead, investment in data centers, networking infrastructure and other equipment necessary for the AI buildout will total $10.3 trillion from last year to 2032, based on projections from the Brookings Institution.
近几周股市下滑，投资者对不断攀升的债务总额拉响警报。纳斯达克综合指数在过去两周下跌逾 100 点，标普 500 指数在同期下跌约 90 点。
Stocks have slid in recent weeks, as investors raise the caution flag about mounting debt totals. The Nasdaq composite is down by more than 100 points over the last two weeks, while the S&P 500 has dipped by roughly 90 points during that time period.
格里芬周二表示：“我认为全美企业界都在盯着 Anthropic 和 OpenAI 的账单，心想：‘好吧，我们得考虑如何确保从中获得生产力提升。’”但这位对冲基金经理兼共和党大额捐赠者对未来仍持乐观态度，他以铁路繁荣为例，称其为一场“改变世界的巨大技术”变革。
“I think all of corporate America is looking at their bills from Anthropic and OpenAI and going, ‘Okay, we need to think about how to make sure we’re getting productivity out of this,’” Griffin said Tuesday. But the hedge fund manager and major GOP donor still has a positive outlook of the future, referencing the railroad boom as an example of a “giant technological” transformation that was “game-changing for the world.”
他补充道：“而那些熬过泡沫的公司，将在未来几十年成为市场领军者。”
He added, “And the companies that are on the other side of that bubble are the market leaders for decades to come.”