Rate Of Return
OptionsIn the coming years:
Unit costs will decline, but total AI computing power demand will continue to rise.
In the longer term:
The market will bifurcate, with low-ROI AI applications being phased out and high-ROI AI workflows surviving.
$Oracle(ORCL.US)
$Alphabet(GOOGL.US)
$Amazon(AMZN.US)
$Microsoft(MSFT.US)
AWS:
Largest cloud infrastructure + Trainium/Graviton + Bedrock, stable but needs to prove monetization at the AI application layer.
Microsoft:
Strongest in enterprise AI monetization, with Copilot/Agent/Fabric/GitHub as core, but gross margin faces short-term pressure.
Google:
TPU + Gemini + Cloud backlog driving revaluation, strongest growth rate, but capex continues to rise.
Oracle:
A high-flexibility dark horse amid AI compute shortage, with astonishing RPO, but carries the greatest risks in capex, financing, and customer concentration.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
