行业融资趋势 - 美国科技巨头为抢占人工智能高地，围绕数据中心建设展开"军备竞赛"，近几个月许多公司转向举债而非动用现金储备为大型项目融资，在债券市场掀起发债热潮[1] - 亚马逊启动3年来首次美元债券发行，筹集资金150亿美元，较原定目标高出30亿美元[3] - 谷歌母公司Alphabet在美国发行约175亿美元债券后，在欧洲发行总值约75亿美元的欧元债券；Meta公司在10月下旬通过债券发行筹集300亿美元；甲骨文公司计划发行380亿美元债券为AI基础设施筹资[3] - 在AI浪潮驱动下，许多中小企业也加入战局，通过巨额借贷自建大型数据中心，今年美国公司已发行超过2000亿美元公司债券用于资助AI相关基础设施项目[3] 市场表现与投资者情绪 - 大规模发债加剧投资者担忧，18日美国三大股指集体收跌，亚马逊下跌4.43%，超威半导体下跌4.25%，英伟达下跌2.81%，该公司11月累计下跌超过10%[1] - 甲骨文公司发行的35亿美元30年期债券自10月峰值以来下跌约8%，目前交易价格仅为面值的65%，表明投资者对科技公司为AI基础设施建设疯狂举债的做法感到不安[6] - 过去一周AI热门股经历抛售潮，高盛称之为"DeepSeek冲击"以来最大的动能回撤[6] 投资规模与预期 - 摩根士丹利分析师估计，从现在到2028年，全球数据中心支出将达到近3万亿美元，其中1.4万亿美元由美国大型科技公司现金流覆盖，需从其他渠道弥补1.5万亿美元资金缺口[4] - 投资机构预计生成式AI收入将从去年450亿美元增长到2028年1万亿美元，科技公司指望企业、公共部门和个人创造足够AI需求以实现收入预期[4] 风险与挑战 - 芯片一项吞噬数据中心过半建设成本，加之快速更新换代，对企业是持续沉重负担；AI技术目前尚未实现商业化，投资回报不明朗[4] - 麻省理工学院8月份研究显示，95%机构在生成式AI试点项目中的投资毫无回报，动摇了投资者对AI热潮的信心[4] - 如果AI技术在未来几年未达预期收益，负债累累公司可能为整个行业承担损失；数据中心债务由众多金融机构及为新建设施提供资金的公司承担[5]

Following the election of a new mayor in Seattle, one of Amazon's top executives reaffirmed its commitment to the region ...

It's the latest step in Amazon's push to expand its return network beyond the Seattle tech giant's own brick-and-mortar locations. ...

Empowers IT teams to block threats earlier, reduce manual rule maintenance and accelerate time to protectionNatively integrates into AWS Network Firewall and deployable via AWS Management Console for seamless activation and managementExtends DNS-based threat intelligence across AWS environments, enabling consistent perimeter enforcement and reducing exposure to phishing, C2 and data exfiltration SANTA CLARA, Calif., Nov. 19, 2025 (GLOBE NEWSWIRE) -- Infoblox, the leader in uniting networking, security and c ...

Tanuja Randery, Managing Director, Europe, Middle East & Africa, AWS and Tareq Amin, CEO of HUMAIN WASHINGTON--(BUSINESS WIRE)--Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), and HUMAIN, a Public Investment Fund (PIF) company delivering global full-stack AI solutions, announced today at the U.S.-Saudi Investment Forum their plans to provide, deploy and manage up to 150,000 AI accelerators in a data center facility known as an "AI Zone†in Riyadh. As part of the expanded partners ...

In the past, the holiday season was always a high-performance time for the retail sector, which expected to end the year with strong sales figures. From Black Friday sales and gift shopping to Christmas decorations and homeware, consumer cheer and last-minute shopping taking place across Q4 would have a profound impact on the growth and overall profits for the entire year. Today, rising inflation rates and higher costs of living across the board have seen consumer budgets shrink drastically, ushering in a n ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

I recently joined The REIT Forum and if you are looking for more investment ideas like this one, get them exclusively at The REIT Forum with access to our subscriber only portfolios.When I last wrote about Amazon.com, Inc. ( AMZN ) in September, I said that AWS (Amazon Web Services) revenue should start to reaccelerate thanks to its golden goose Anthropic (Amrita runs a boutique family office fund in beautiful Vancouver, where she leads the investment strategy for the family fund. The fund's objective is to ...

文章核心观点 - 亚马逊公司AWS（亚马逊云服务）收入预计将因与Anthropic的合作而开始重新加速增长 [1] 作者背景 - 作者管理一个专注于投资可持续、增长驱动型公司的家族办公室基金 [1] - 作者共同运营一个获奖的时事通讯，专注于投资组合策略、估值和宏观经济学 [1] - 作者在旧金山的高增长供应链初创公司有5年战略领导经验，并与风险投资公司和初创企业合作 [1] 持仓披露 - 作者通过股票、期权或其他衍生品持有亚马逊、微软和谷歌的股票多头头寸 [2]

监管行动概述 - 欧盟委员会宣布对亚马逊AWS和微软Azure的云计算业务启动三项独立调查 [1] - 调查旨在评估是否应将两家公司纳入《数字市场法案》更严格监管范围 [1] - 违反DMA规定的公司可能面临最高达全球营收10%的罚款 [1] 调查内容与标准 - 两项调查将审查AWS和Azure是否应被指定为DMA框架下的"守门人" [1] - 尽管两家公司目前均未达到DMA规定的量化门槛 [1] - DMA规定"守门人"需拥有超过4500万月活跃用户且市值超过750亿欧元 [1] - "守门人"认定标准包括过去三年市值至少达750亿欧元 在欧盟年营业额超过75亿欧元 拥有至少4500万月活跃用户以及超过1万名年度活跃用户 至少在三个欧盟成员国提供核心平台服务等 [2] - 第三项调查将评估现有DMA框架是否足以应对欧盟委员会所称的欧洲云计算行业反竞争行为 [1] 监管背景与动机 - 欧盟反垄断负责人表示调查将审查DMA现有规则是否需要更新以便欧洲能跟上云计算行业快速发展步伐 [2] - 欧盟委员会指出云计算必须在公平 开放和竞争的环境中提供以确保创新和欧洲的战略自主权 [2] - 云计算对欧洲的人工智能发展和数字竞争力至关重要 [2] 公司回应与潜在影响 - AWS发言人表示相信欧盟委员会最终会得出结论认为更严格的规则是不必要的 [3] - 微软发言人回应称公司准备为此次调查做出贡献 [3] - 如果被认定为云计算领域"守门人" 亚马逊或微软将需在六个月内遵守DMA规则 引发包括互操作性要求和优待自身产品的新义务 [3] - 该立法已遭到特朗普政府批评 后者表示DMA不公平地针对美国科技公司 [3] 行业战略意义 - 欧盟对云计算市场的监管升级反映出其对数字基础设施控制权的重视 [3] - 随着人工智能和数字化转型的加速 云服务已成为关键战略资源 [3] - 调查结果将对全球科技巨头的欧洲业务战略产生重要影响 [3] 调查时间表 - 欧盟委员会预计将在12个月内完成对AWS和Azure的调查 [1] - 在18个月内完成对DMA法律框架的评估 [1]