摩根士丹利：AI并购潮呈现“全谱系”发展趋势

Odaily Planet Daily reported that Morgan Stanley's Global Head of Technology M&A, Wally Cheng, stated that as companies race to fill technological gaps in areas such as chips, electricity, networks, and infrastructure, M&A transactions in the field of artificial intelligence are covering various scales and expanding into multiple industries. Cheng said: "I believe deal activity will cover the full spectrum, including both private and public companies." Although semiconductors that provide computing power for AI are attracting attention due to their "technological miracle" attributes, the infrastructure surrounding these chips also holds significant value, including networking, storage, electricity, and real estate. Cheng stated that valuations in the AI industry remain "very difficult" because a balance must be struck between "unicorns with immense imagination and rainbow-like prospects" and actual execution risks. Tammy Kiely, Senior Managing Director of Technology Investment Banking at Evercore, expressed a similar view. She said that potential acquirers must evaluate the potential value they can create while weighing the cost of missing out on opportunities. (Jinshi)