The global technology market is seeing a major shift in company values and available cash. This change is caused by the rapid growth of artificial intelligence (AI) companies and the rise of a new group of extremely wealthy individuals.

全球科技市場正經歷公司價值與可用資金的重大轉移。這一變化是由於人工智慧（AI）公司的快速成長以及新興極高淨值群體的崛起所導致的。

Current market trends show that the value gap between Nvidia and Apple is closing, with Apple nearly becoming the second most valuable company in the world. Experts emphasize that this is due to Apple's careful spending and its plan to add AI features to its popular products. Meanwhile, Nvidia's growth has slowed as investors move their money into different AI projects. Furthermore, companies like Alphabet and Amazon are creating their own computer chips to reduce their reliance on outside suppliers.

目前的市場趨勢顯示，Nvidia 與 Apple 之間的價值差距正在縮小，Apple 幾乎成為全球市值第二高的公司。專家強調，這是由於 Apple 謹慎的支出以及將 AI 功能整合至其熱門產品的計劃。與此同時，隨著投資者將資金轉向不同的 AI 項目，Nvidia 的成長速度有所放緩。此外，像 Alphabet 和 Amazon 這樣的公司正開發自己的電腦晶片，以減少對外部供應商的依賴。

At the same time, private AI companies are seeing their values rise dramatically. For example, Anthropic has reached a secondary market value of $1.2 trillion. When these companies and SpaceX eventually go public, they are expected to create more wealth than all U.S. venture capital exits since 2000 combined. Consequently, this huge increase in wealth has led to a surge in private jet purchases by tech entrepreneurs, which has boosted business for aviation law and charter firms.

與此同時，私人 AI 公司的價值正劇烈上升。例如，Anthropic 在二級市場的估值已達到 1.2 兆美元。當這些公司與 SpaceX 最終上市時，預計將創造比 2000 年以來所有美國風險投資退出總和更多的財富。因此，財富的劇增導致科技創業家購買私人飛機的人數激增，進而刺激了航空法律與包機公司的業務。

However, some analysts warn that these high valuations may not be sustainable. They suggest that the industry needs $3 trillion in revenue to justify the $1.5 trillion spent on infrastructure by 2026. Some executives, including those at Anduril, have expressed caution, arguing that current market prices may be too high. They worry that the belief that AI will benefit everyone might ignore the financial pressure caused by these massive investments.

然而，部分分析師警告，這些高估值可能無法持續。他們認為，到 2026 年為止，該產業需要 3 兆美元的收入，才能證明在基礎設施上投入的 1.5 兆美元是合理的。包括 Anduril 在內的一些高階主管表達了謹慎態度，認為目前的市場價格可能過高。他們擔心，認為 AI 將使所有人獲益的觀點，可能會忽略這些巨額投資所造成的財務壓力。

The AI sector remains very unstable. While valuations and spending are at record highs, investors are now looking more closely at when these companies will actually start making a profit.

AI 產業依然非常不穩定。雖然估值與支出處於歷史高點，但投資者現在正更密切地關注這些公司究竟何時才會真正開始獲利。