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南洋往事.
#谷歌云业务增长82%，AI投入回报如何？ AI投入已经在谷歌云实现阶段性盈利兑现（收入、利润率、在手订单都很强），但资本开支压力抬升，自由现金流阶段性承压，回报是“利润表先兑现、现金流回报滞后”，还处在重投入周期里，不是稳态回报
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