# 中国对冲基金警告AI股票超级泡沫即将破裂

- 来源：Rohan Paul (@rohanpaul_ai)
- 发布时间：2026-06-28 07:16
- AIHOT 分数：50
- AIHOT 链接：https://aihot.virxact.com/items/cmqwznv5101k8slp0ujn7xq3r
- 原文链接：https://x.com/rohanpaul_ai/status/2071009919378346463

## AI 摘要

彭博社报道，两家中国对冲基金警告全球AI股票繁荣已从强劲需求转为超级泡沫。许多AI相关股票的定价已包含多年完美增长预期，但企业尚未证明能捍卫利润。最薄弱环节是AI基础设施——公司必须持续在芯片、服务器、电力和数据中心上巨额投入以维持竞争力。Wealspring称部分热门中国AI股可能下跌超80%；Banxia指出Anthropic的收入运行率是压力点，因为token成本上升速度可能超过客户预算。

## 正文

Bloomberg： Two prominent Chinese hedge funds are warning that the global AI stock boom has crossed from strong demand into a super bubble.

Their point is that many AI-linked stocks now price in years of perfect growth before the businesses have proved they can defend profits.

The weakest point is AI infrastructure， where companies must keep spending huge amounts on chips， servers， power， and data centers just to stay relevant.

A business with a moat can protect pricing， margins， and customers， while a business built only on sudden demand can look brilliant until supply catches up or customers push back.

Wealspring says some hot Chinese AI shares could fall more than 80%， while Banxia points to Anthropic's revenue run-rate as a pressure point because token costs can rise faster than customer budgets.

---

bloomberg. com/news/articles/2026-06-26/chinese-hedge-funds-warn-the-ai-super-bubble-is-ready-to-burst