{"id":736,"date":"2025-11-20T20:58:39","date_gmt":"2025-11-20T11:58:39","guid":{"rendered":"https:\/\/www.kabutec.jp\/blog\/?p=736"},"modified":"2025-11-20T20:58:40","modified_gmt":"2025-11-20T11:58:40","slug":"%e3%82%a8%e3%83%8c%e3%83%93%e3%83%87%e3%82%a3%e3%82%a2%e7%ac%ac3%e5%9b%9b%e5%8d%8a%e6%9c%9f%e6%b1%ba%e7%ae%97%ef%bc%9aai%e9%9d%a9%e5%91%bd%e3%81%af%e7%b6%99%e7%b6%9a%e3%81%99%e3%82%8b%e3%82%82","status":"publish","type":"post","link":"https:\/\/www.kabutec.jp\/blog\/?p=736","title":{"rendered":"\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2\u7b2c3\u56db\u534a\u671f\u6c7a\u7b97\uff1aAI\u9769\u547d\u306f\u7d99\u7d9a\u3059\u308b\u3082\u3001\u5e02\u5834\u306f\u614e\u91cd\u306a\u53cd\u5fdc"},"content":{"rendered":"\n<p>\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2\u306f2024\u5e7411\u670820\u65e5\u306b\u767a\u8868\u3057\u305f\u7b2c3\u56db\u534a\u671f\u6c7a\u7b97\u3067\u3001<strong>\u58f2\u4e0a\u9ad8351\u5104\u30c9\u30eb\uff08\u524d\u5e74\u540c\u671f\u6bd494%\u5897\uff09<\/strong>\u3001\u7b2c4\u56db\u534a\u671f\u30ac\u30a4\u30c0\u30f3\u30b9<strong>375\u5104\u30c9\u30eb<\/strong>\u3068\u3044\u3046\u9a5a\u7570\u7684\u306a\u696d\u7e3e\u3092\u8a18\u9332\u3057\u3001\u30a6\u30a9\u30fc\u30eb\u8857\u306e\u4e88\u60f3\u3092\u5168\u3066\u306e\u6307\u6a19\u3067\u4e0a\u56de\u308a\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u682a\u4fa1\u306f\u6c7a\u7b97\u767a\u8868\u5f8c\u306b\u4e71\u9ad8\u4e0b\u3057\u3001\u6700\u7d42\u7684\u306b\u7d041.5%\u4e0b\u843d\u3057\u3066\u5f15\u3051\u307e\u3057\u305f\u3002\u3053\u306e\u53cd\u5fdc\u306f\u91cd\u8981\u306a\u7dca\u5f35\u95a2\u4fc2\u3092\u793a\u3057\u3066\u3044\u307e\u3059\uff1aAI\u30a4\u30f3\u30d5\u30e9\u69cb\u7bc9\u304c\u5f15\u304d\u7d9a\u304d\u5805\u8abf\u3067\u3042\u308b\u3053\u3068\u304c\u78ba\u8a8d\u3055\u308c\u305f\u4e00\u65b9\u3067\u3001\u6210\u9577\u7387\u306f3\u6841\u304b\u3089\u6e1b\u901f\u3057\u3066\u304a\u308a\u3001<strong>\u6642\u4fa1\u7dcf\u984d4.6\u5146\u30c9\u30eb<\/strong>\u3068\u3044\u3046\u8a55\u4fa1\u984d\u306b\u306f\u5931\u671b\u306e\u4f59\u5730\u304c\u307b\u3068\u3093\u3069\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u6c7a\u7b97\u30cf\u30a4\u30e9\u30a4\u30c8<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u8ca1\u52d9\u5b9f\u7e3e<\/h3>\n\n\n\n<ul>\n<li><strong>\u7b2c3\u56db\u534a\u671f\u58f2\u4e0a\u9ad8<\/strong>: 350.82\u5104\u30c9\u30eb\uff08\u524d\u5e74\u540c\u671f\u6bd494%\u5897\u3001\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u4e88\u60f3331.6\u5104\u30c9\u30eb\u30925.8%\u4e0a\u56de\u308b\uff09<\/li>\n\n\n\n<li><strong>\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u58f2\u4e0a<\/strong>: 308\u5104\u30c9\u30eb\uff08\u524d\u5e74\u540c\u671f\u6bd4112%\u5897\u3001\u7dcf\u58f2\u4e0a\u306e87.8%\u3092\u5360\u3081\u308b\uff09<\/li>\n\n\n\n<li><strong>\u975eGAAP EPS<\/strong>: 0.81\u30c9\u30eb\uff08\u4e88\u60f30.75\u30c9\u30eb\u30018%\u306e\u4e0a\u632f\u308c\uff09<\/li>\n\n\n\n<li><strong>\u7d14\u5229\u76ca<\/strong>: 200\u5104\u30c9\u30eb\uff08\u524d\u5e74\u540c\u671f\u6bd42\u500d\uff09<\/li>\n\n\n\n<li><strong>\u7b2c4\u56db\u534a\u671f\u30ac\u30a4\u30c0\u30f3\u30b9<\/strong>: 375\u5104\u30c9\u30eb\uff08\u00b12%\uff09\u3001\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9370.8\u5104\u30c9\u30eb\u3092\u4e0a\u56de\u308b<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e3b\u8981\u30dd\u30a4\u30f3\u30c8<\/h3>\n\n\n\n<ul>\n<li>Blackwell\u30c1\u30c3\u30d7\u3068Rubin\u30c1\u30c3\u30d7\u306e\u53d7\u6ce8\u304c<strong>5000\u5104\u30c9\u30eb\u8d85<\/strong>\uff082026\u5e74\u307e\u3067\u5ef6\u9577\uff09<\/li>\n\n\n\n<li>\u7c97\u5229\u76ca\u7387\u306f74.6%\uff08\u524d\u56db\u534a\u671f\u306e75.1%\u304b\u3089\u82e5\u5e72\u5727\u7e2e\uff09<\/li>\n\n\n\n<li>2\u5927\u9867\u5ba2\u304c\u7b2c2\u56db\u534a\u671f\u58f2\u4e0a\u306e<strong>39%\u3092\u5360\u3081\u308b<\/strong>\uff08\u305d\u308c\u305e\u308c23%\u306816%\uff09<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">\u5e02\u5834\u3078\u306e\u5f71\u97ff\u5206\u6790<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. \u682a\u4fa1\u53cd\u5fdc\u3068\u671f\u5f85\u5024\u306e\u9ad8\u3055<\/h3>\n\n\n\n<p>\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2\u682a\u306f\u3001\u5168\u3066\u306e\u6307\u6a19\u3067\u4e88\u60f3\u3092\u4e0a\u56de\u308a\u3001\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u5f15\u304d\u4e0a\u3052\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u6c7a\u7b97\u767a\u8868\u5f8c\u306e\u53d6\u5f15\u3067\u8457\u3057\u3044\u5909\u52d5\u6027\u3092\u793a\u3057\u307e\u3057\u305f\uff1a<\/p>\n\n\n\n<ul>\n<li><strong>\u6642\u9593\u5916\u53d6\u5f15<\/strong>: \u521d\u671f\u53cd\u5fdc\u30672-5%\u4e0a\u6607<\/li>\n\n\n\n<li><strong>\u7fcc\u65e5\u7d42\u5024<\/strong>: \u7d041.5%\u4e0b\u843d<\/li>\n\n\n\n<li><strong>\u30aa\u30d7\u30b7\u30e7\u30f3\u5e02\u5834<\/strong>: \u00b16.9%\u306e\u5909\u52d5\u3092\u7e54\u308a\u8fbc\u307f\uff08\u7d043200\u5104\u30c9\u30eb\u306e\u6642\u4fa1\u7dcf\u984d\u5909\u52d5\u306b\u76f8\u5f53\uff09<\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u63a7\u3048\u3081\u306a\u53cd\u5fdc\u306f\u3001\u300c\u9a5a\u7570\u7684\u306a\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u300d\u304c\u65e2\u306b\u30d9\u30fc\u30b9\u30e9\u30a4\u30f3\u671f\u5f85\u5024\u3068\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\u30d4\u30fc\u30bf\u30fc\u30fb\u30c6\u30a3\u30fc\u30eb\u306e\u30d5\u30a1\u30f3\u30c9\u3084\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u306a\u3069\u3001\u8457\u540d\u6295\u8cc7\u5bb6\u304c\u6c7a\u7b97\u524d\u306b<strong>\u7dcf\u984d58.3\u5104\u30c9\u30eb<\/strong>\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u89e3\u6d88\u3057\u3066\u3044\u305f\u3053\u3068\u3082\u6ce8\u76ee\u306b\u5024\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. \u534a\u5c0e\u4f53\u30bb\u30af\u30bf\u30fc\u3078\u306e\u6ce2\u53ca\u52b9\u679c<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">\u52dd\u8005<\/h4>\n\n\n\n<ul>\n<li><strong>TSMC\uff08\u53f0\u6e7e\u7a4d\u4f53\u96fb\u8def\u88fd\u9020\uff09<\/strong>: 3%\u8fd1\u304f\u4e0a\u6607\u30012024\u5e74\u5e74\u521d\u6765+83%<\/li>\n\n\n\n<li><strong>ASML<\/strong>: 4%\u8d85\u4e0a\u6607\u3001\u5148\u7aef\u88fd\u9020\u88c5\u7f6e\u306e\u72ec\u5360\u7684\u4f9b\u7d66\u8005<\/li>\n\n\n\n<li><strong>\u6771\u4eac\u30a8\u30ec\u30af\u30c8\u30ed\u30f3<\/strong>: 5.67-7%\u4e0a\u6607<\/li>\n\n\n\n<li><strong>\u30a2\u30c9\u30d0\u30f3\u30c6\u30b9\u30c8<\/strong>: 3.8-5.4%\u4e0a\u6607<\/li>\n\n\n\n<li><strong>Arista Networks<\/strong>: \u5e74\u521d\u6765+88%\uff082024\u5e74\uff09<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u7af6\u5408\u72b6\u6cc1<\/h4>\n\n\n\n<ul>\n<li><strong>AMD<\/strong>: MI300X GPU\u3067\u4e00\u5b9a\u306e\u30b7\u30a7\u30a2\u7372\u5f97\uff0811-12%\u5e02\u5834\u30b7\u30a7\u30a2\uff09<\/li>\n\n\n\n<li><strong>Intel<\/strong>: \u30d5\u30a1\u30a6\u30f3\u30c9\u30ea\u4e8b\u696d\u3067116\u5104\u30c9\u30eb\u306e\u640d\u5931\u3001\u6226\u7565\u7684\u4e0d\u78ba\u5b9f\u6027\u306b\u76f4\u9762<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">3. \u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u306e\u5927\u898f\u6a21\u6295\u8cc7\u7d99\u7d9a<\/h3>\n\n\n\n<p>\u5927\u624b\u30c6\u30c3\u30af\u4f01\u696d\u306e\u8cc7\u672c\u652f\u51fa\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\uff1a<\/p>\n\n\n\n<ul>\n<li><strong>\u96c6\u5408\u7684\u306a\u652f\u51fa<\/strong>: 2024\u5e74\u306b3800\u5104\u30c9\u30eb\u8d85<\/li>\n\n\n\n<li><strong>Microsoft<\/strong>: \u5927\u5e45\u306a\u8a2d\u5099\u6295\u8cc7\u4e88\u6e2c\u5f15\u304d\u4e0a\u3052<\/li>\n\n\n\n<li><strong>Amazon<\/strong>: 2025\u5e74\u306b\u7d041250\u5104\u30c9\u30eb\uff081180\u5104\u30c9\u30eb\u304b\u3089\u5897\u52a0\uff09<\/li>\n\n\n\n<li><strong>Alphabet<\/strong>: 910-930\u5104\u30c9\u30eb\uff08\u5f93\u6765\u306e750-850\u5104\u30c9\u30eb\u30ec\u30f3\u30b8\u304b\u3089\u5f15\u304d\u4e0a\u3052\uff09<\/li>\n\n\n\n<li><strong>2026\u5e74\u4e88\u6e2c<\/strong>: 6000\u5104\u30c9\u30eb\u306b\u9054\u3059\u308b\u898b\u8fbc\u307f<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">\u65e5\u672c\u5e02\u5834\u3078\u306e\u5f71\u97ff<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u5287\u7684\u306a\u53cd\u8ee2<\/h3>\n\n\n\n<p>\u65e5\u672c\u306e\u682a\u5f0f\u5e02\u5834\u306f\u7279\u306b\u5287\u7684\u306a\u53cd\u5fdc\u3092\u793a\u3057\u307e\u3057\u305f\uff1a<\/p>\n\n\n\n<ol>\n<li><strong>\u6c7a\u7b97\u524d\uff0811\u670819\u65e5\uff09<\/strong>: \u65e5\u7d4c225\u304c3.22%\u6025\u843d\uff087\u30f6\u6708\u3067\u6700\u5927\u306e\u4e0b\u843d\uff09<\/li>\n\n\n\n<li><strong>\u6c7a\u7b97\u5f8c\uff0811\u670820\u65e5\uff09<\/strong>: \u65e5\u7d4c225\u304c3.7%\u6025\u9a30\u305750,343.25\u5186\uff0810\u67086\u65e5\u4ee5\u6765\u6700\u5927\u306e\u4e0a\u6607\uff09<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e3b\u8981\u306a\u65e5\u672c\u4f01\u696d\u306e\u52d5\u304d<\/h3>\n\n\n\n<ul>\n<li><strong>\u6771\u4eac\u30a8\u30ec\u30af\u30c8\u30ed\u30f3<\/strong>: 5.67-7%\u4e0a\u6607\u3001\u65e5\u7d4c\u306e486\u30dd\u30a4\u30f3\u30c8\u4e0a\u6607\u306e\u3046\u3061134\u30dd\u30a4\u30f3\u30c8\u306b\u8ca2\u732e<\/li>\n\n\n\n<li><strong>\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u30b0\u30eb\u30fc\u30d7<\/strong>: 9.1%\u6025\u9a30\uff08\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2\u682a\u3092\u5168\u3066\u58f2\u5374\u3057\u3066\u3044\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\uff09<\/li>\n\n\n\n<li><strong>\u30a2\u30c9\u30d0\u30f3\u30c6\u30b9\u30c8<\/strong>: \u4e16\u754c\u30b7\u30a7\u30a280%\u306e\u30c1\u30c3\u30d7\u30c6\u30b9\u30c8\u88c5\u7f6e\u30e1\u30fc\u30ab\u30fc\u30013.8-5.4%\u4e0a\u6607<\/li>\n\n\n\n<li><strong>\u30c7\u30a3\u30b9\u30b3<\/strong>: \u7cbe\u5bc6\u5207\u65ad\u30fb\u7814\u524a\u88c5\u7f6e\u30018%\u4e0a\u6607<\/li>\n\n\n\n<li><strong>\u30eb\u30cd\u30b5\u30b9\u30a8\u30ec\u30af\u30c8\u30ed\u30cb\u30af\u30b9<\/strong>: 4.8%\u4e0a\u6607<\/li>\n\n\n\n<li><strong>\u30ec\u30fc\u30b6\u30fc\u30c6\u30c3\u30af\u3001\u30a4\u30d3\u30c7\u30f3<\/strong>: \u305d\u308c\u305e\u308c5.6-6.3%\u30017%\u8d85\u4e0a\u6607<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u69cb\u9020\u7684\u8ab2\u984c<\/h3>\n\n\n\n<ul>\n<li>\u65e5\u7d4c\u306e2024\u5e74\u4e0a\u6607\u5206\u306e**53%**\u3092\u308f\u305a\u304b4\u793e\u304c\u5360\u3081\u308b\uff08\u7c73\u56fd\u306e\u300c\u30de\u30b0\u30cb\u30d5\u30a3\u30bb\u30f3\u30c8\u30fb\u30bb\u30d6\u30f3\u300d\u3068\u540c\u69d8\u306e\u96c6\u4e2d\uff09<\/li>\n\n\n\n<li>\u5916\u56fd\u4eba\u6295\u8cc7\u5bb6\u304c\u53d6\u5f15\u9ad8\u306e\u7d04**70%**\u3092\u5360\u3081\u308b\u304c\u3001\u4fdd\u6709\u6bd4\u7387\u306f30%\u306e\u307f<\/li>\n\n\n\n<li>\u5186\u76f8\u5834155-157\u5186\/\u30c9\u30eb\u4ed8\u8fd1\u3067\u63a8\u79fb\u3001\u8f38\u51fa\u4f01\u696d\u306b\u306f\u8ffd\u3044\u98a8<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a2\u30ca\u30ea\u30b9\u30c8\u306e\u898b\u89e3\u3068\u30ea\u30b9\u30af\u8981\u56e0<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u76ee\u6a19\u682a\u4fa1\u5f15\u304d\u4e0a\u3052<\/h3>\n\n\n\n<ul>\n<li><strong>Loop Capital<\/strong>: 250-350\u30c9\u30eb\uff08\u6700\u9ad8\u5024\uff09<\/li>\n\n\n\n<li><strong>Melius Research<\/strong>: 320\u30c9\u30eb<\/li>\n\n\n\n<li><strong>Wedbush<\/strong>: 230\u30c9\u30eb\uff08210\u30c9\u30eb\u304b\u3089\u5f15\u304d\u4e0a\u3052\uff09<\/li>\n\n\n\n<li><strong>Goldman Sachs<\/strong>: 210\u30c9\u30eb\uff08200\u30c9\u30eb\u304b\u3089\uff09<\/li>\n\n\n\n<li><strong>\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u5e73\u5747<\/strong>: 235-243\u30c9\u30eb\uff082024\u5e7411\u6708\u6c34\u6e96\u304b\u308919-34%\u306e\u4e0a\u6607\u4f59\u5730\uff09<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e3b\u8981\u30ea\u30b9\u30af<\/h3>\n\n\n\n<ol>\n<li><strong>\u9867\u5ba2\u96c6\u4e2d\u30ea\u30b9\u30af<\/strong>\n<ul>\n<li>\u4e0a\u4f4d2\u9867\u5ba2\u304c\u58f2\u4e0a\u306e39%<\/li>\n\n\n\n<li>6\u9867\u5ba2\u3067\u58f2\u4e0a\u306e\u7d0485%<\/li>\n\n\n\n<li>\u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u4f9d\u5b58\u5ea6\u304c50%\u8d85<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u30ea\u30b9\u30af<\/strong>\n<ul>\n<li>PER 51-67\u500d\uff08\u5b9f\u7e3e\u30d9\u30fc\u30b9\uff09<\/li>\n\n\n\n<li>PER 27-44\u500d\uff08\u4e88\u60f3\u30d9\u30fc\u30b9\uff09<\/li>\n\n\n\n<li>\u300c\u5b8c\u74a7\u306a\u4fa1\u683c\u4ed8\u3051\u300d\u306b\u3088\u308a\u4e0b\u632f\u308c\u4f59\u5730\u5927<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u5730\u653f\u5b66\u7684\u30ea\u30b9\u30af<\/strong>\n<ul>\n<li>\u4e2d\u56fd\u5411\u3051H20\u30c1\u30c3\u30d7\u58f2\u4e0a\u304cQ3\u30675000\u4e07\u30c9\u30eb\u306e\u307f<\/li>\n\n\n\n<li>\u8f38\u51fa\u898f\u5236\u306b\u3088\u308a\u7d0490\u5104\u30c9\u30eb\u306e\u6a5f\u4f1a\u640d\u5931<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u7af6\u4e89\u6fc0\u5316<\/strong>\n<ul>\n<li>AMD\u304cOpenAI\u3068\u306e\u6570\u5341\u5104\u30c9\u30eb\u898f\u6a21\u306e\u5951\u7d04\u7372\u5f97<\/li>\n\n\n\n<li>\u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u306e\u81ea\u793e\u30c1\u30c3\u30d7\u958b\u767a\uff08Google TPU\u3001Amazon Trainium\u7b49\uff09<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">\u4eca\u5f8c\u306e\u898b\u901a\u3057\u3068\u6295\u8cc7\u6226\u7565<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u5e02\u5834\u6a5f\u4f1a<\/h3>\n\n\n\n<ul>\n<li><strong>TAM\u62e1\u5927<\/strong>: 2025\u5e74602.3\u5104\u30c9\u30eb\u21922034\u5e744993.3\u5104\u30c9\u30eb\uff08CAGR 26.6%\uff09<\/li>\n\n\n\n<li><strong>2030\u5e74\u307e\u3067\u306b2\u5146\u30c9\u30eb\u5e02\u5834<\/strong>\uff08\u30b3\u30f3\u30d4\u30e5\u30fc\u30c8\u3068\u30cd\u30c3\u30c8\u30ef\u30fc\u30ad\u30f3\u30b0\u5408\u8a08\uff09<\/li>\n\n\n\n<li><strong>AI\u30a4\u30f3\u30d5\u30e9\u30b5\u30a4\u30af\u30eb<\/strong>: 8-10\u5e74\u30b5\u30a4\u30af\u30eb\u306e4\u5e74\u76ee\u306b\u7a81\u5165<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u6295\u8cc7\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u63a8\u5968<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">\u6210\u9577\u5fd7\u5411\u6295\u8cc7\u5bb6\u5411\u3051<\/h4>\n\n\n\n<ul>\n<li>\u8907\u6570\u5e74\u306e\u6295\u8cc7\u671f\u9593\u3068\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u8010\u6027\u304c\u3042\u308b\u5834\u5408\u3001\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u7dad\u6301\u30fb\u5897\u52a0\u3092\u691c\u8a0e<\/li>\n\n\n\n<li>\u30a2\u30ca\u30ea\u30b9\u30c8\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u306f220-240\u30c9\u30eb\u3078\u306e20-30%\u8d85\u306e\u4e0a\u6607\u3092\u793a\u5506<\/li>\n\n\n\n<li>\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e5-8%\u3092\u8d85\u3048\u308b\u96c6\u4e2d\u306f\u907f\u3051\u308b<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u30d0\u30ea\u30e5\u30fc\u30fb\u30a4\u30f3\u30ab\u30e0\u6295\u8cc7\u5bb6\u5411\u3051<\/h4>\n\n\n\n<ul>\n<li>PER 51-67\u500d\u3001\u914d\u5f53\u5229\u56de\u308a0.05%\u672a\u6e80\u3067\u306f\u614e\u91cd\u59ff\u52e2\u63a8\u5968<\/li>\n\n\n\n<li>\u4ee3\u66ff\u30a2\u30d7\u30ed\u30fc\u30c1\uff1a\n<ul>\n<li><strong>AMD<\/strong>\uff08\u4e88\u60f3PER 27.6\u500d\uff09<\/li>\n\n\n\n<li><strong>TSMC<\/strong>\uff08\u3088\u308a\u5b89\u5b9a\u3057\u305f\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\uff09<\/li>\n\n\n\n<li>\u534a\u5c0e\u4f53ETF\uff08<strong>SMH<\/strong>: NVDA\u6bd4\u738720-22%\u3001<strong>SOXX<\/strong>: 6.7-9%\uff09<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u5730\u7406\u7684\u5206\u6563<\/h4>\n\n\n\n<ul>\n<li>\u65e5\u672c\u306e\u534a\u5c0e\u4f53\u88fd\u9020\u88c5\u7f6e\u30e1\u30fc\u30ab\u30fc\uff08\u6771\u4eac\u30a8\u30ec\u30af\u30c8\u30ed\u30f3\u3001\u30a2\u30c9\u30d0\u30f3\u30c6\u30b9\u30c8\uff09<\/li>\n\n\n\n<li>\u6b27\u5dde\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\uff08ASML: EUV\u9732\u5149\u88c5\u7f6e\u306e\u72ec\u5360\u4f9b\u7d66\uff09<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0\u30dd\u30a4\u30f3\u30c8<\/h3>\n\n\n\n<ol>\n<li><strong>\u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u306e\u8a2d\u5099\u6295\u8cc7\u30ac\u30a4\u30c0\u30f3\u30b9<\/strong>\n<ul>\n<li>\u652f\u51fa\u75b2\u52b4\u3084\u512a\u5148\u9806\u4f4d\u5909\u66f4\u306e\u5146\u5019\u3092\u6ce8\u8996<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>AMD\u306e\u5e02\u5834\u30b7\u30a7\u30a2\u9032\u6357<\/strong>\n<ul>\n<li>\u7af6\u4e89\u5727\u529b\u306e\u5148\u884c\u6307\u6a19\u3068\u3057\u3066\u76e3\u8996<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u7c97\u5229\u76ca\u7387\u306e\u63a8\u79fb<\/strong>\n<ul>\n<li>73%\u3092\u4e0b\u56de\u308b\u6301\u7d9a\u7684\u306a\u5727\u7e2e\u306f\u4fa1\u683c\u5727\u529b\u3092\u793a\u5506<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u9867\u5ba2\u96c6\u4e2d\u5ea6\u6307\u6a19<\/strong>\n<ul>\n<li>\u4e0a\u4f4d\u9867\u5ba2\u304b\u3089\u306e\u58f2\u4e0a\u6bd4\u7387\u5897\u52a0\u306f\u4f9d\u5b58\u5ea6\u6df1\u5316\u3068\u30ea\u30b9\u30af\u4e0a\u6607\u3092\u793a\u3059<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">\u7d50\u8ad6<\/h2>\n\n\n\n<p>\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2\u306e\u7b2c3\u56db\u534a\u671f\u6c7a\u7b97\u306f\u3001AI\u30a4\u30f3\u30d5\u30e9\u69cb\u7bc9\u304c\u5f15\u304d\u7d9a\u304d\u5805\u8abf\u3067\u3042\u308b\u3053\u3068\u3092\u78ba\u8a8d\u3057\u307e\u3057\u305f\u304c\u3001\u5e02\u5834\u306f\u65e2\u306b\u9ad8\u3044\u671f\u5f85\u5024\u3092\u7e54\u308a\u8fbc\u3093\u3067\u304a\u308a\u3001\u4eca\u5f8c\u306f\u3088\u308a\u614e\u91cd\u306a\u8a55\u4fa1\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<p><strong>\u4e3b\u8981\u306a\u6295\u8cc7\u5224\u65ad\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a<\/p>\n\n\n\n<ul>\n<li>AI\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u30b5\u30a4\u30af\u30eb\u306f\u307e\u3060\u4e2d\u76e4\uff088-10\u5e74\u30b5\u30a4\u30af\u30eb\u306e3-4\u5e74\u76ee\uff09<\/li>\n\n\n\n<li>\u6210\u9577\u7387\u306f\u6e1b\u901f\u3057\u3066\u3044\u308b\u304c\u3001\u4f9d\u7136\u3068\u3057\u3066\u5f37\u529b\u306a\u9700\u8981\u304c\u7d99\u7d9a<\/li>\n\n\n\n<li>\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u30ea\u30b9\u30af\u3068\u9867\u5ba2\u96c6\u4e2d\u30ea\u30b9\u30af\u304c\u4e3b\u8981\u306a\u61f8\u5ff5\u4e8b\u9805<\/li>\n\n\n\n<li>S&amp;P500\u306e8%\u3092\u5360\u3081\u308b\u96c6\u4e2d\u5ea6\u306f\u3001\u5e02\u5834\u5168\u4f53\u3078\u306e\u30b7\u30b9\u30c6\u30df\u30c3\u30af\u30ea\u30b9\u30af\u3092\u5275\u51fa<\/li>\n<\/ul>\n\n\n\n<p>\u4eca\u5f8c12-18\u30f6\u6708\u306f\u3001AI\u9769\u547d\u304c\u6570\u5146\u30c9\u30eb\u306e\u6295\u8cc7\u3092\u6b63\u5f53\u5316\u3059\u308b\u751f\u7523\u6027\u5411\u4e0a\u3068\u53ce\u76ca\u6210\u9577\u3092\u5b9f\u73fe\u3067\u304d\u308b\u304b\u3001\u305d\u308c\u3068\u3082\u5e02\u5834\u304c\u73fe\u5b9f\u3092\u6570\u5e74\u5148\u53d6\u308a\u3057\u3066\u3057\u307e\u3044\u3001\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u304c\u671f\u5f85\u306b\u8ffd\u3044\u3064\u304f\u307e\u3067\u306e\u75db\u307f\u3092\u4f34\u3046\u518d\u8a55\u4fa1\u671f\u9593\u304c\u5fc5\u8981\u304b\u3092\u8a66\u3059\u91cd\u8981\u306a\u671f\u9593\u3068\u306a\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p>\u6295\u8cc7\u5bb6\u306f\u3001\u9b45\u529b\u7684\u306a\u6210\u9577\u30b9\u30c8\u30fc\u30ea\u30fc\u3068\u96c6\u4e2d\u30fb\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u30ea\u30b9\u30af\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u53d6\u308b\u6d17\u7df4\u3055\u308c\u305f\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\u30a8\u30cc\u30d3\u30c7\u30a3\u30a2\u306e\u7269\u8a9e\u306f\u5358\u4e00\u4f01\u696d\u306e\u56db\u534a\u671f\u696d\u7e3e\u3092\u8d85\u3048\u3066\u3001\u73fe\u4ee3\u53f2\u4e0a\u6700\u3082\u96c6\u4e2d\u3057\u305f\u5e02\u5834\u30ea\u30fc\u30c0\u30fc\u30b7\u30c3\u30d7\u304c\u6301\u7d9a\u53ef\u80fd\u304b\u3069\u3046\u304b\u3068\u3044\u3046\u3001\u3088\u308a\u5e83\u7bc4\u306a\u5e02\u5834\u69cb\u9020\u306e\u554f\u984c\u3092\u63d0\u8d77\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<hr 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[&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=\/wp\/v2\/posts\/736"}],"collection":[{"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=736"}],"version-history":[{"count":1,"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=\/wp\/v2\/posts\/736\/revisions"}],"predecessor-version":[{"id":737,"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=\/wp\/v2\/posts\/736\/revisions\/737"}],"wp:attachment":[{"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kabutec.jp\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}