[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio3f8d98e1":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio3f8d98e1","AI豪赌遭反噬！数据中心项目减记及科技股持仓走软拖累下-软银(SFTBY)Q2巨亏71亿美元","\u002Fdoc\u002Fdcio3f8d98e1","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>美股投资网获悉，软银(SFTBY)录得近两年来首次净亏损，原因是美国一个数据中心项目产生37亿美元的减记损失、叠加市场对人工智能(AI)增长可持续性的担忧不断升温令这家投资巨头的主要持仓资产受到冲击。财报显示，软银第二财季录得1.12万亿日元(约合71亿美元)亏损，较去年同期的盈利大幅反转，且远逊于分析师平均预期的盈利1290亿日元。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>据悉，亏损主要与软银为俄亥俄州数据中心园区项目支付的不可退还预付款有关，这些款项用于确保设备供应及制造产能。与此同时，芯片制造商Arm(ARM)和英特尔(INTC)，以及韩国电商巨头Coupang(CPNG)的股价下跌拖累了软银的整体业绩。负责管理数百家科技初创企业股权的愿景基金(Vision Fund)业务板块录得816亿日元的亏损，而市场原本预期该板块将实现盈利2220亿日元。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>值得一提的是，财报显示，软银已完成此前承诺的对OpenAI追加投资，总额为300亿美元。该笔投资通过软银愿景基金二期分三批完成，分别于2026年4月1日、7月1日和10月1日投入，每批金额均为100亿美元。追加投资完成后，软银对OpenAI的累计投资达到646亿美元，持股比例约为13%。软银表示，第三笔100亿美元投资于10月1日完成，资金来自公司于9月发行的外币高级债券。此次投资完成后，软银此前为追加投资安排的过桥融资额度已全部取消，相关借款也已偿还。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>目前，软银正日益被视为对OpenAI及更广泛AI板块情绪的“风向标”。受市场担忧其为大规模AI投资承担的债务、以及美国中期选举中民主党全面获胜可能导致孙正义押注的多个AI项目陷入停滞等因素影响，自6月份创下历史新高以来，软银股价已大幅下挫超50%。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>随着孙正义数十亿美元级AI项目不断增加，而这些项目未来能够带来的收入回报在很大程度上仍不确定，投资者正越来越担忧这一支出激增的局面。从债券到股份抵押贷款、再到以OpenAI股权作为担保的融资，软银正在通过多种方式为AI投资筹集资金。融资工具不断增加，也意味着其资产负债表对利率、信用利差以及所持AI资产估值变化更加敏感。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>孙正义在AI领域上的布局有很多，其中最惹人瞩目的莫过于对OpenAI的豪赌。如果OpenAI的估值一路向上、IPO如期推进，这或成为孙正义人生里又一个神来之笔。但如今风向已经变了。伴随着AI估值天花板回落，OpenAI的IPO已被推迟到2027年。这意味着，软银的重仓在短期内还无法通过公开市场变现，而支撑这笔持仓的债务利息却是按季度、按天在走的。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>压力很快传导到了债市。软银五年期信用违约互换(CDS)利差飙至466个基点，创2022年10月以来新高。市场担忧，软银的财务状况会不会成为AI链条上的下一个风险点?\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>对于软银的投资者而言，当前的核心矛盾正在转向“AI投资何时能够兑现回报”。在OpenAI上市时间表尚不明确的情况下，软银的财务状况将成为投资者关注的重中之重。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 每天处理千万级股票数据：捕捉期权大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准交易信号第一时间发到您手机APP！\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FA\u002FAI\u002FAI9.jpg","2026-11-10T17:21:49","2026.11.10","2026\u002F11\u002F10",46088,[22],"AI","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" rel=\"noopener noreferrer\">\u003Cimg src=\"\u002Fimg\u002Fstockwewebfiles\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"\u002Fimages\u002Ffooter\u002Ffooter-1-wechat.gif?v=20260930c","\u002Fimages\u002Ffooter\u002Ffooter-2-telegram.png?v=20260930c","\u002Fimages\u002Ffooter\u002Ffooter-3-whatsapp.png?v=20260930c","\u002Fimages\u002Ffooter\u002Ffooter-4-line.png?v=20260930c","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]