微软财报意外曝光AI投资回报分化：对Anthropic的50亿美元投资单季收益32亿美元，接近OpenAI全年收益规模；同期对OpenAI的投资却减值约6亿美元。微软双线押注策略初见分晓，凸显Anthropic强劲回报与OpenAI的账面压力。
微软高管确认，公司已向OpenAI投入超1000亿美元，涵盖初始投资、云计算基础设施及计算托管服务。这一数字截至当前财年，凸显微软在人工智能领域的巨大投入与战略野心。
马斯克诉奥尔特曼案中曝光的法庭文件显示，2017年微软CEO纳德拉与OpenAI CEO奥尔特曼已开始探讨AI合作。但微软高层对投资OpenAI态度复杂：既担心投入资金过大，又忧虑OpenAI可能转投竞争对手亚马逊并“说坏话”。
OpenAI自研“Nexus”芯片项目遇阻，因博通要求微软承诺采购首批产能40%后才愿投资。该项目计划2030年前建成10吉瓦算力集群，旨在摆脱对英伟达的依赖，但融资博弈使合作陷入僵局。
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