东京 —— 随着人工智能投资推动芯片需求暂时超过供应，全球五大存储芯片供应商上个季度的合计营业利润和净利润首次超过五大美国科技巨头。
TOKYO -- Five leading global memory chip suppliers logged higher total operating and net profits than five big U.S. tech companies for the first time last quarter, as investment in artificial intelligence fuels chip demand that is outpacing supply for now.
据 QUICK FactSet 数据，日本的铠侠控股、韩国的三星电子和 SK 海力士，以及美国的美光科技和闪迪，上个季度（7-9 月，美光为 6-8 月）合计营业利润同比激增十倍，达 32 万亿日元（约合 2040 亿美元）。这五家制造商控制着全球存储芯片市场的大部分份额。
Combined operating profit at Japan's Kioxia Holdings, South Korea's Samsung Electronics and SK Hynix, and U.S.-based Micron Technology and Sandisk soared tenfold on the year to the equivalent of 32 trillion yen ($204 billion) for the July-September quarter, or June-August for Micron, according to QUICK FactSet. The five manufacturers control the bulk of the global memory market.
与此同时，QUICK FactSet 数据显示，Alphabet、微软、亚马逊、Meta 和苹果的合计季度营业利润约为 25 万亿日元，同比增长约 20%。由于苹果尚未发布财报，其数据采用了市场预测值。
Meanwhile, QUICK FactSet data put total quarterly operating profit at Alphabet, Microsoft, Amazon, Meta and Apple at roughly 25 trillion yen, up about 20% on the year. Market forecasts were used for Apple, which has yet to release its earnings.
铠侠周五宣布，本集团上季度营业利润同比暴增 23 倍，达 1.99 万亿日元。季度净利润同比激增 33 倍，达 1.36 万亿日元，首次突破 1 万亿日元大关 —— 在 3 月结算的日本企业中，此前仅丰田汽车和软银集团等寥寥几家达到过这一水平。
Kioxia's group operating profit ballooned 23-fold year on year to 1.99 trillion yen, the company said Friday. Its quarterly net profit surged 33-fold to 1.36 trillion yen, topping 1 trillion yen for the first time -- a level reached by only the likes of Toyota Motor and SoftBank Group among Japanese companies that close their books in March.
对于本季度，铠侠预测净利润将同比增长 15 倍，达 1.36 万亿日元，得益于用于数据中心的长期 NAND 闪存销量激增。
For this quarter, Kioxia forecasts net profit climbing 15-fold to 1.36 trillion yen, thanks to skyrocketing sales of long-term NAND flash memory for data centers.
三星报告称，上季度营业利润同比激增近九倍，达约 107 万亿韩元（约合 802 亿美元），宣称成为“全球首家”单季营业利润突破 100 万亿韩元的科技公司。该公司已售罄明年全部高带宽内存供货量。
Samsung reported operating profit swelling nearly ninefold last quarter to about 107 trillion won ($80.2 billion), touting its status as "the world's first tech company" to exceed 100 trillion won in quarterly operating profit. The company has already sold next year's entire supply of high-bandwidth memory.
存储芯片制造商的盈利能力从其营业利润率可见一斑，利润率已从 2025 年上半年的 10% 左右飙升至近 70%。
The earning power of memory makers is underscored by their operating profit margins, which have swelled from the 10% range in the first half of 2025 to nearly 70%.
“过去一年半里，存储芯片价格上涨了 10 倍，”SBI 证券高级分析师和田哲也表示。
"Memory prices have risen by a factor of 10 in the past year and a half," said Tetsuya Wadaki, senior analyst at SBI Securities.
除苹果以外的科技巨头正在大举投资数据中心，挤占内存市场，为供应商带来巨额利润。但市场开始质疑该行业持续向该领域投入资金的能力。
Tech giants, excluding Apple, are investing heavily in data centers, squeezing the memory market and bringing immense profits for suppliers. But markets are starting to question the industry's ability to keep pouring money into the field.
亚马逊周四发布的财报显示，其负向自由现金流上一季度扩大。其股价在盘后交易中暴跌。
Amazon earnings released Thursday showed its negative free cash flow widening last quarter. Its shares tumbled in off-hours trading.
Alphabet的股价也在周四暴跌，此前该公司又一个季度出现负向自由现金流。“内存制造商的股价将取决于科技巨头维持资本支出的能力，”日兴资产管理首席分析师山本真人表示。
Alphabet's shares also plunged Thursday after another quarter of negative free cash flow "Memory makers' share prices will depend on tech giants' ability to sustain capital spending," said Maito Yamamoto, chief analyst at Nissay Asset Management.