Anthropic\u8d74\u7f8e\u4e0a\u5e02\u7684\u53d1\u884c\u4ef7\u533a\u95f4\u622a\u81f3\u516c\u5f00\u4fe1\u606f\u53d1\u5e03\u65f6\u5c1a\u672a\u843d\u5b9a\uff0c\u4f46\u56f4\u7ed5\u8fd9\u5bb6\u516c\u53f8\u4ef7\u503c\u7684\u4e00\u4e2a\u7b2c\u4e09\u65b9\u6570\u5b57\u5df2\u7ecf\u5148\u884c\u51fa\u7089\u3002\u7ebd\u7ea6\u5927\u5b66\u65af\u7279\u6069\u5546\u5b66\u9662\u6559\u6388Aswath Damodaran\u572811\u67083\u65e5\u628a\u5bf9Anthropic PBC\u7684\u80a1\u6743\u4ef7\u503c\u4f30\u7b97\u4ece10\u670828\u65e5\u76841.475\u4e07\u4ebf\u7f8e\u5143\u4e0b\u8c03\u81f31.45\u4e07\u4ebf\u7f8e\u5143\uff0c\u8fd9\u4e00\u6c34\u5e73\u672c\u8eab\u5c31\u4f4e\u4e8e\u5e02\u573a\u6b64\u524d\u8ba8\u8bba\u76842\u4e07\u4ebf\u7f8e\u5143\u91cf\u7ea7\u3002\u4e0e\u673a\u6784\u62a5\u4ef7\u4e0d\u540c\uff0c\u8fd9\u4e2a\u6570\u5b57\u6765\u81ea\u4e00\u4e2a\u516c\u5f00\u7684\u4f30\u503c\u6a21\u578b\uff0c\u5b83\u7684\u5047\u8bbe\u662f\u53ef\u88ab\u9010\u6761\u68c0\u9a8c\u7684\u3002<\/p>\n
\u6a21\u578b\u7ed9\u51fa\u7684\u8def\u5f84\u5e76\u4e0d\u4fdd\u5b88\u3002\u7ecf\u8425\u5229\u6da6\u7387\u630927.5%\u8bbe\u5b9a\uff0c\u8d44\u672c\u6210\u672c\u53d69.74%\uff0c\u6bcf1\u7f8e\u5143\u518d\u6295\u5165\u5bf9\u5e943\u7f8e\u5143\u65b0\u589e\u6536\u5165\uff0c\u5e76\u7ed9\u8fd9\u5bb6\u516c\u53f8\u8ba1\u516510%\u7684\u5931\u8d25\u6982\u7387\u3002\u6309\u6b64\u63a8\u6f14\uff0cAnthropic\u5341\u5e74\u540e\u7684\u5e74\u8425\u6536\u9700\u8fbe\u52301\u4e07\u4ebf\u7f8e\u5143\u2014\u2014Damodaran \u660e\u786e\u8bf4\u660e\u8fd9\u4e00\u6570\u5b57\u4e0d\u662f\u516c\u53f8\u6307\u5f15\u3002\u4e0e\u4e00\u4e07\u4ebf\u7f8e\u5143\u8425\u6536\u89c4\u6a21\u5e76\u5217\u7684\u516c\u53f8\u5728\u4f53\u91cf\u4e0a\u8fd8\u6709\u4e9a\u9a6c\u900a\u548c\u6c83\u5c14\u739b\u8fd9\u7c7b\u4ee5\u89c4\u6a21\u6362\u5229\u6da6\u7684\u4f01\u4e1a\uff0c\u56e0\u6b64\u5373\u4fbf\u505a\u5230\u8fd9\u4e2a\u91cf\u7ea7\uff0c\u5229\u6da6\u7387\u4e5f\u4f1a\u88ab\u644a\u8584\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u66f4\u65b0\u540e\u7684\u4f30\u503c\u628a\u516c\u53f8\u521a\u62ab\u9732\u7684\u7b2c\u4e09\u5b63\u5ea6\u6570\u636e\u8ba1\u5165\u4e86\u6eda\u52a8\u5341\u4e8c\u4e2a\u6708\u53e3\u5f84\uff0c\u8fd9\u6b63\u662f\u8fd9\u6b21\u5fae\u8c03\u7684\u76f4\u63a5\u89e6\u53d1\u70b9\u3002<\/p>\n
\u652f\u64911\u4e07\u4ebf\u7f8e\u5143\u8425\u6536\u7684\u524d\u63d0\u6761\u4ef6\uff0cDamodaran \u8bf4\u5f97\u5f88\u76f4\u63a5\uff1a\u4e00\u65e6\u9501\u5b9a\u7b97\u529b\uff0c\u5149\u7ef4\u6301\u548c\u8865\u5145\u5c31\u4e0d\u591f\uff0c\u8fd8\u5f97\u6301\u7eed\u589e\u52a0\uff1b\u800c\u65b0\u5efa\u6570\u636e\u4e2d\u5fc3\u7684\u963b\u529b\u6b63\u5728\u4e0a\u5347\uff0c\u5f53\u5730\u793e\u533a\u7684\u53cd\u5bf9\u4e0e\u653f\u6cbb\u5c42\u9762\u7684\u53cd\u5f39\u53e0\u52a0\u5728\u4e00\u8d77\u3002”\u867d\u7136\u5916\u754c\u5bf9 Anthropic \u7684\u5173\u6ce8\u70b9\u96c6\u4e2d\u5728\u5176\u91c7\u8d2d\u627f\u8bfa\u4e0a\uff0c\u4f46\u6211\u7684\u4f30\u503c\u53d6\u51b3\u4e8e\u8fd9\u4e9b\u627f\u8bfa\u968f\u65f6\u95f4\u63a8\u79fb\u4f1a\u53d8\u6210\u4ec0\u4e48\u6837\u3002”\u8fd9\u662f\u628a\u516c\u53f8\u62ab\u9732\u7684\u5408\u540c\u4e49\u52a1\u4e0e\u5341\u5e74\u540e\u7684\u6536\u5165\u5151\u73b0\u76f4\u63a5\u6302\u94a9\u7684\u7b97\u6cd5\uff0c\u800c\u4e0d\u662f\u5bf9\u5f53\u524d\u5b63\u5ea6\u8d22\u52a1\u7684\u6298\u7b97\u3002<\/p>\n
\u7b2c\u4e09\u4e2a\u5b63\u5ea6\u63d0\u4f9b\u4e86\u4e00\u7ec4\u9700\u8981\u540c\u65f6\u88c5\u4e0b\u7684\u4e24\u9762\u6027\u6570\u636e\u3002\u8425\u6536\u8fbe\u5230170\u4ebf\u7f8e\u5143\uff0c\u4e0a\u5e74\u540c\u671f\u4e3a14\u4ebf\u7f8e\u5143\uff0c\u589e\u5e45\u8d85\u8fc711\u500d\uff1b\u4f46\u5f53\u5b63\u51c0\u4e8f\u635f233\u4ebf\u7f8e\u5143\uff0c\u4e3b\u8981\u6765\u81ea\u4e0e\u4f30\u503c\u4e0a\u5347\u6302\u94a9\u7684\u975e\u73b0\u91d1\u4f1a\u8ba1\u8ba1\u63d0\uff1b\u5254\u9664\u8fd9\u7c7b\u5f71\u54cd\u540e\uff0c\u7ecf\u8425\u5c42\u9762\u4ecd\u4e8f\u635f5.67\u4ebf\u7f8e\u5143\uff0c\u539f\u56e0\u662f\u4e34\u65f6\u91c7\u8d2d\u7684\u77ed\u671f\u7b97\u529b\u6210\u672c\u4e0a\u5347\u3002\u540c\u671f\u62ab\u9732\u7684\u7b97\u529b\u91c7\u8d2d\u4e0e\u79df\u8d41\u627f\u8bfa\u89c4\u6a21\u7ea6\u4e3a8950\u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d700\u4ebf\u7f8e\u5143\u9700\u57282027\u5e749\u6708\u4e4b\u524d\u652f\u4ed8\u3002\u8fd9\u7ec4\u6570\u5b57\u89e3\u91ca\u4e86\u6a21\u578b\u91cc\u7684\u4e24\u4e2a\u53c2\u6570\u4e3a\u4f55\u8981\u8fd9\u6837\u8bbe\uff1a\u4e00\u4e2a\u628a\u7b97\u529b\u652f\u51fa\u5199\u6210\u521a\u6027\u7684\u591a\u5e74\u8d1f\u503a\uff0c\u53e6\u4e00\u4e2a\u628a\u6536\u5165\u589e\u957f\u5199\u6210\u9700\u8981\u5341\u5e74\u624d\u5151\u73b0\u7684\u5047\u8bbe\u3002<\/p>\n
\u5916\u90e8\u8d28\u7591\u5728\u6cbb\u7406\u5c42\u9762\u627e\u5230\u4e86\u843d\u70b9\u3002Damodaran \u5728\u6b64\u524d\u7684\u4e00\u7bc7\u4f30\u503c\u6587\u7ae0\u4e2d\u5c31\u63d0\u51fa\u8fc7\u4fdd\u7559\u610f\u89c1\uff1a\u516c\u53f8\u4ee5\u516c\u76ca\u516c\u53f8\u5f62\u5f0f\u8bbe\u7acb\uff0c\u6cd5\u5f8b\u8981\u6c42\u5176\u5728\u63a8\u8fdbAI\u5b89\u5168\u4f7f\u547d\u4e0e\u80a1\u4e1c\u56de\u62a5\u4e4b\u95f4\u6743\u8861\uff1b\u66f4\u5177\u5b9e\u8d28\u7ea6\u675f\u529b\u7684\u662f\u80a1\u672c\u8bbe\u8ba1\u2014\u2014\u62db\u80a1\u6587\u4ef6\u62ab\u9732\u7684\u80a1\u4efd\u7c7b\u522b\u8868\u4e2d\uff0cT\u7c7b\u666e\u901a\u80a1\u6bcf\u80a1\u4e00\u7968\u4f46\u4ee3\u8868\u8bb0\u5f55\u65e5\u5df2\u53d1\u884c\u6295\u7968\u6743\u768450.1%\uff0c\u7531\u521b\u59cb\u4eba\u901a\u8fc7\u5355\u4e00\u7279\u6b8a\u80a1\u6301\u6709\uff0c\u4fe1\u6258\u63a7\u5236\u7684E\u7c7b\u80a1\u4e0eF\u7c7b\u80a1\u5206\u522b\u8d1f\u8d23\u7279\u5b9a\u7c7b\u522b\u8463\u4e8b\u7684\u63d0\u540d\u3001\u6539\u6d3e\u4e0e\u7f62\u514d\uff0c\u516c\u4f17\u6301\u6709\u7684A\u7c7b\u666e\u901a\u80a1\u6bcf\u80a1\u4e00\u7968\u3002Damodaran \u8ba4\u4e3a\uff0c\u65e0\u8bba\u516c\u53f8\u901a\u8fc7\u80a1\u6743\u878d\u8d44\u52df\u96c6\u591a\u5c11\u8d44\u91d1\uff0c\u8fd9\u79cd\u8ba9\u521b\u59cb\u4eba\u59cb\u7ec8\u63e1\u6709\u63a7\u5236\u6743\u7684\u5b89\u6392\u90fd\u662f\u4e00\u4e2a\u8d1f\u9762\u56e0\u7d20\uff0c\u5c3d\u7ba1\u4ed6\u4e5f\u627f\u8ba4\u6536\u5230\u8fc7\u76f8\u53cd\u7684\u53cd\u9988\u2014\u2014\u8ba4\u4e3a\u638c\u8235\u8005\u662f\u66f4\u61c2AI\u7684\u4eba\uff1b\u4ed6\u672c\u4eba\u5e76\u4e0d\u8ba4\u540c\u8fd9\u4e00\u8fa9\u62a4\u3002<\/p>\n
\u53e6\u4e00\u6761\u8d28\u7591\u6765\u81ea\u627f\u8bfa\u652f\u51fa\u7684\u53ef\u89c1\u5ea6\u3002Michael Burry \u5728\u62db\u80a1\u6587\u4ef6\u63d0\u4ea4\u540e\u64b0\u6587\u6307\u51fa\uff0c\u516c\u53f8\u4e0e\u4e9a\u9a6c\u900a\u3001\u8c37\u6b4c\u6bcd\u516c\u53f8\u53ca\u5fae\u8f6f\u8fbe\u6210\u7ea65370\u4ebf\u7f8e\u5143\u7684\u7b97\u529b\u91c7\u8d2d\u534f\u8bae\uff0c\u53e6\u4e0e\u5305\u62ecSpaceXAI\u5728\u5185\u7684\u591a\u65b9\u8fbe\u6210\u521d\u6b65\u534f\u8bae\uff0c\u5408\u8ba1\u627f\u8bfa\u89c4\u6a21\u7ea6\u4e3a\u5f53\u524d\u5e74\u5316\u8425\u6536\u768412\u500d\uff1b\u4ed6\u540c\u65f6\u6307\u51fa\u7b2c\u4e09\u5b63\u5ea6\u589e\u901f\u653e\u7f13\u8fd9\u4e00\u4e8b\u5b9e\u5e76\u672a\u5728\u6587\u4ef6\u4e2d\u88ab\u5145\u5206\u8bf4\u660e\u3002\u4e24\u5957\u5916\u90e8\u8d28\u7591\u5408\u8d77\u6765\uff0c\u6070\u597d\u628a\u8fd9\u4efd\u4f30\u503c\u7684\u4e24\u4e2a\u652f\u70b9\u540c\u65f6\u63a8\u5230\u4e86\u53f0\u9762\u4e0a\uff1a\u6536\u5165\u7aef\u7684\u5341\u5e74\u500d\u589e\u5047\u8bbe\uff0c\u4ee5\u53ca\u6210\u672c\u7aef\u5df2\u7ecf\u5199\u6b7b\u7684\u957f\u671f\u91c7\u8d2d\u4e49\u52a1\u2014\u2014\u800c\u5bf9\u540e\u8005\u7684\u5b9a\u4ef7\uff0c\u6b63\u662f\u8fd9\u573a\u53d1\u884c\u80fd\u5426\u5728\u516c\u5f00\u5e02\u573a\u88ab\u63a5\u53d7\u7684\u5206\u6c34\u5cad\u3002<\/p>\n
\u628a\u8fd9\u4e9b\u7ebf\u7d22\u653e\u5728\u4e00\u8d77\u770b\uff0c\u8109\u7edc\u5c31\u6e05\u695a\u4e86\u3002\u5916\u754c\u4e00\u5ea6\u63f4\u5f15\u6587\u4ef6\u526f\u672c\u79f0\u516c\u53f8\u5c06\u53d1\u884c\u7ea68.67\u4ebf\u80a1\u3001\u5b9a\u4ef7\u6bcf\u80a170\u81f380\u7f8e\u5143\uff0c\u5bf9\u5e94\u52df\u8d44\u89c4\u6a21\u6700\u9ad8693\u4ebf\u7f8e\u5143\uff0c\u4f46Anthropic\u968f\u540e\u5411\u627f\u9500\u94f6\u884c\u53d1\u51fa\u90ae\u4ef6\uff0c\u79f0\u5b9a\u4ef7\u7ec6\u8282\u4e0d\u51c6\u786e\u5e76\u5c06\u66f4\u65b0\u6587\u4ef6\uff0c\u516c\u5f00\u7684\u62db\u80a1\u6587\u4ef6\u81f3\u4eca\u5728\u53d1\u884c\u4ef7\u4e0e\u80a1\u6570\u680f\u4f4d\u4e0a\u4ecd\u662f\u7a7a\u767d\u3002\u56e0\u6b64\uff0c1.45\u4e07\u4ebf\u7f8e\u5143\u8fd9\u4e2a\u6570\u5b57\u7684\u786e\u5b9a\u542b\u4e49\uff0c\u5e76\u4e0d\u662f\u5e02\u573a\u7ed9\u51fa\u7684\u4ef7\u683c\uff0c\u800c\u662f\u7b2c\u4e09\u65b9\u6a21\u578b\u7ed9\u51fa\u7684\u951a\u3002\u5269\u4e0b\u7684\u95ee\u9898\u662f\u53d1\u884c\u4ef7\u6700\u7ec8\u843d\u5728\u8fd9\u4e2a\u951a\u7684\u4e0b\u65b9\u8fd8\u662f\u4e0a\u65b9\uff0c\u4ee5\u53ca\u96f6\u661f\u62ab\u9732\u768410\u6708\u8425\u6536\u80fd\u5426\u626d\u8f6c\u589e\u901f\u653e\u7f13\u3002\u8fd9\u4e5f\u89e3\u91ca\u4e86\u5916\u754c\u5728”\u52df\u8d44\u89c4\u6a21”\u4e0e”\u4f30\u503c”\u4e24\u4e2a\u6570\u5b57\u4e0a\u7684\u53cd\u590d\u6447\u6446\uff1a\u524d\u8005\u53d6\u51b3\u4e8e\u53d1\u884c\u80a1\u6570\u4e0e\u5b9a\u4ef7\u7684\u4e58\u79ef\uff0c\u516c\u53f8\u5c1a\u672a\u9501\u5b9a\uff1b\u540e\u8005\u53d6\u51b3\u4e8e\u5bf9\u5341\u5e74\u6536\u5165\u8def\u5f84\u7684\u5047\u8bbe\uff0c\u800c\u8fd9\u4efd\u5047\u8bbe\u7684\u53ef\u9760\u6027\uff0c\u7531\u5c1a\u672a\u843d\u5730\u7684\u6536\u5165\u6765\u68c0\u9a8c\u3002<\/p>\n
\u6709\u4e09\u9879\u8282\u70b9\u53ef\u4ee5\u6838\u5bf9\uff1a\u66f4\u65b0\u540e\u7684\u53d1\u884c\u6761\u6b3e\u516c\u5e03\u540e\uff0c\u5b9e\u9645\u5b9a\u4ef7\u4e0e1.45\u4e07\u4ebf\u8fd9\u4e2a\u951a\u7684\u504f\u79bb\u5e45\u5ea6\uff1b10\u6708\u8425\u6536\u6570\u636e\u80fd\u5426\u652f\u6301\u6a21\u578b\u91cc\u9690\u542b\u7684\u589e\u957f\u659c\u7387\uff1b\u4ee5\u53ca\u7b97\u529b\u627f\u8bfa\u7684\u8282\u594f\u662f\u5426\u51fa\u73b0\u4fee\u8ba2\u2014\u2014\u8fd9\u6070\u6070\u662f Damodaran \u4f30\u503c\u4e2d\u6700\u4f9d\u8d56\u3001\u4e5f\u6700\u96be\u9884\u5224\u7684\u4e00\u73af\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"
Anthropic\u8d74\u7f8e\u4e0a\u5e02\u7684\u53d1\u884c\u4ef7\u533a\u95f4\u622a<\/p>\n","protected":false},"author":10,"featured_media":22379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[],"class_list":["post-22380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/posts\/22380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/comments?post=22380"}],"version-history":[{"count":1,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/posts\/22380\/revisions"}],"predecessor-version":[{"id":22448,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/posts\/22380\/revisions\/22448"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/media\/22379"}],"wp:attachment":[{"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/media?parent=22380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/categories?post=22380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dguan.com.cn\/ai\/wp-json\/wp\/v2\/tags?post=22380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}