Morgan Stanley 将 Nvidia 列为 AI 领域最佳风险收益标的，同时提示集中度与电力缺口风险
Morgan Stanley 认为 Nvidia 是 AI 领域风险收益比最佳的标的，其研究预计 2027 年超大规模厂商和 AI 云厂商支出达 $1.58T、同比增长约 60%，其中近 $700B 流向 Nvidia。
Rohan Paul· @rohanpaul_ai · X·2026-10-20 15:41· 52 分钟前AI 评分51
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Morgan Stanley 将 Nvidia 评为 AI 领域最佳风险收益标的，预计 2027 年超大规模厂商和 AI 云厂商支出达 $1.58T、同比增长约 60%，其中近 $700B 流向 Nvidia。
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Morgan Stanley rates Nvidia AI’s best risk/reward, though 91.7% of its 2027 revenue is exposed to infrastructure demand.
MS research expects hyperscalers and AI cloud providers to spend $1.58T in 2027, up roughly 60%, with nearly $700B reaching Nvidia.
That haul leans on 2 buyers, with SpaceX and Amazon Web Services modeled at about 54% of Nvidia’s 2027 hyperscaler revenue and 72% of growth.
Morgan Stanley still calls the stock cheap at 15 times fiscal 2028 earnings, arguing analysts underestimated 4 past compute cycles by 38% on average.
Its own power model, though, projects US data centers falling 32GW short of the 97GW they need through 2028.
来源：Rohan Paul · x.com
来源：RadarAI · aihot.news