微软加大自研 AI 芯片投入以减少对英伟达的依赖

1. 核心事实剥离

• 事件本质：Microsoft 宣布将更多依赖自研 AI 芯片，减少对 Nvidia 的依赖，旨在扩展云业务利润率并强化自有 AI 技术栈〔SRC:"Microsoft to rely more on homegrown AI chips, reducing dependence on Nvidia" / "By increasingly counting on its own chips, Microsoft stands to expand margins and bolster its AI stack"〕。可交易变量：超大规模客户内部硅化趋势对 Nvidi