Feb 24, 2026 12:13 pm
筛选这类标的的关键标准是：该公司是AI Agent的“受害者”还是“载体”？以ServiceNow为例，尽管其股价近期暴跌，但通过收购Moveworks、Armis，它正试图从“被Agent替代”转向“成为Agent平台”，这种转型若能成功，有望带来估值修复。
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当前，大模型正快速向具备自主规划能力的「智能体（Agent）」方向演进，AI 需要频繁回顾动辄数万字的上下文，导致系统性能的制约因素已从「算力不足」转变为「数据传输太慢」。