[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dciofa88e1bf":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"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,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dciofa88e1bf","Wedbush重申看涨微软(MSFT)：与OpenAI新分成协议是“净利好”-Azure-AI变现拖累解除","\u002Fdoc\u002Fdciofa88e1bf","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，据报道，微软(MSFT)与OpenAI已经重新谈判了双方的收入分成协议细节。新的协议不仅可帮助OpenAI减少高达970亿美元的预期付款，同时也使微软能够更早收到款项。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">根据新协议，OpenAI同意将其到2030年向微软支付的收入分成总额上限定为380亿美元。这一支付上限是双方上个月重新谈判协议的一部分。在原协议下，OpenAI同意在2030年前向微软支付其收入的20%。这一比例安排仍然保留，但预计到2028年便会触及支付上限。此前的预测显示，在设定上限之前，OpenAI向微软支付的金额可能高达1350亿美元。新协议还取消了“OpenAI在实现通用人工智能(AGI)之前需持续向微软支付分成”的条款。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">更新后的协议还允许微软降低对OpenAI模型的依赖，并进一步推动其AI战略多元化。根据新的安排，OpenAI得以通过其他云服务提供商销售其模型产品，同时微软也不再享有独家合作权。微软目前已向OpenAI投资130亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">对于双方达成的最新协议，Wedbush分析师在周三早间的一份报告中表示“重要的是，虽然OpenAI长期来看节省了大量支出，但重新谈判后的结构也取消了OpenAI此前将部分付款延期至2032年的选择权。这意味着，OpenAI今年预计将从其300亿美元收入中向微软支付约60亿美元，而此前预测约为40亿美元。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Wedbush重申对微软的“跑赢大盘”评级，并维持575美元目标价，这一目标价较微软周二收盘价407.77美元有41%的上行空间。Wedbush指出“我们认为，这一修订后的结构整体上对微软及其AI战略构成利好。微软以放弃后期部分可选收益空间为代价，换取了若干关键的结构性胜利，并锁定了对OpenAI模型与产品的知识产权使用权直至2032年，无论AGI何时实现，这都消除了此前一个开放式风险。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Wedbush还表示“微软依然保留了与OpenAI的主要云合作关系，以及其重要的股权持仓，从而继续受益于OpenAI未来迈向IPO过程中的增长。同时，微软未来不再需要与OpenAI分享Azure向云客户销售OpenAI模型所得的收入，这将消除Azure AI商业化经济模型中的一项重要拖累因素。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">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>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">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>\r\n\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FM\u002FMSFT\u002FMSFT.jpg","2026-05-14T14:21:04","2026.05.14","2026\u002F05\u002F14",33097,[22],"MSFT","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,"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\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cimg style=\"display:block;margin-left:auto;margin-right:auto;\" src=\"https:\u002F\u002Fstockwewebfiles.blob.core.windows.net\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca target=\"_blank\" 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":68,"summaryHtml":73,"aboutTitle":74,"aboutHtml":75,"copyrightHtml":76},[44,47,50,53,56,59,62,65],{"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},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":60,"url":61},"美股课程","\u002Fcol\u002Fvideos",{"label":63,"url":64},"免责声明","\u002Fdisclaimer",{"label":66,"url":67},"联系我们","\u002FContactUs",[69,70,71,72],"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 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，每天处理千万级股票数据：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，精准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":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"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","编辑","编辑视频","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"]