内容来源：https://techcrunch.com/2026/01/29/guys-i-dont-think-tim-cook-knows-how-to-monetize-ai/

内容总结：

苹果公司周四发布的季度财报超出市场预期，其营收达到1438亿美元，同比增长16%。在财报电话会议上，当多位分析师向CEO蒂姆·库克提出温和提问时，摩根士丹利的埃里克·伍德林却抛出了一个硅谷似乎无人敢直面的话题。

伍德林指出，苹果的人工智能布局显然伴随着新增成本，而许多竞争对手虽已将AI植入设备，却尚未明确其带来的增量收益。他最终直指核心："那么，苹果如何实现AI的盈利？"

这一问题实则触及了科技行业的集体困惑。当前巨头对AI的发展往往呈现"氛围驱动"态势。以风头正劲的OpenAI为例，尽管ChatGPT已深入人心，但公司预计2030年前难以盈利。汇丰分析师甚至质疑该时间表，尤其考虑到其仍需约2070亿美元资金支持。若问及OpenAI的盈利路径，业内回应大多含糊其辞。

而当天营收业绩亮眼的库克，其回答却未带来实质信息。他表示："我们将智能深度融入用户喜爱的体验，以个性化且保护隐私的方式整合进操作系统，这创造了巨大价值，并为产品与服务开辟了一系列机遇。"

简而言之，苹果对AI盈利模式的回应可概括为：创造"巨大价值"、开启"一系列机遇"，并最终体现在"产品与服务"中。摩根士丹利分析师的尝试，至少让这个行业核心问题浮出了水面。

中文翻译：

苹果公司在周四公布季度财报时，业绩表现超出预期，营收达到1438亿美元，同比增长16%。在财报电话会议上，当分析师们纷纷向首席执行官蒂姆·库克提出不痛不痒的问题时，一位分析师大胆提出了硅谷似乎无人敢问的问题。

"考虑到贵公司的人工智能计划，显然这带来了额外成本……您的许多竞争对手已将人工智能整合到设备中，但目前尚不清楚他们因此获得了多少增量收益……"摩根士丹利的埃里克·伍德林这样开场。

这位金融人士看似专业的外表下，是否藏着一丝不安？在我眼中堪称勇气可嘉的伍德林，终于问出了投资者内心最深处盘旋的问题。

"那么，贵公司如何通过人工智能盈利？"他问道。

你以为这会是常见问题？那就错了。实际上，科技巨头们对人工智能发展大多采取"氛围感驱动"策略。以OpenAI为例，尽管ChatGPT已深入人心，公司却计划到2030年才开始盈利。汇丰银行分析师甚至对这个时间表表示怀疑——据估算该公司还需要2070亿美元资金。若问任何业内人士OpenAI如何实现收支平衡，得到的回答大概只会是耸肩表情包式的含糊其辞。

但我们的老朋友蒂姆·库克——那位刚收获1438亿美元营收的CEO——那天下午心情颇佳，或许终于会透露这些公司打算如何收回投资。

他的回答令人失望。

"这么说吧，我们正将智能技术融入用户喜爱的更多领域，并以个性化、保护隐私的方式整合到操作系统中。我相信这样做能创造巨大价值，从而为我们的产品和服务开辟一系列机遇。"库克表示。

好了各位，答案揭晓：苹果将通过"创造巨大价值"来实现人工智能盈利。关键是，这将"开辟一系列机遇"。而这些机遇将体现在"产品和服务"中。真棒！

无论如何，要为那位摩根士丹利分析师的尝试点赞。

英文来源：

Apple exceeded expectations when it reported its quarterly earnings on Thursday, revealing that it made $143.8 billion in revenue for a 16% year-over-year increase. As analysts peppered CEO Tim Cook with softball questions during Apple’s earnings call, one analyst dared to ask the question that seemingly no one in Silicon Valley is willing to ask.
“When I think about your AI initiatives, you know, it’s clear there are added costs associated with that… Many of your competitors have already integrated AI into their devices, and it’s just not clear yet what incremental monetization they’re seeing because of AI…,” started Morgan Stanley’s Erik Woodring.
Could there be a tinge of nervousness underneath this Finance Man’s probably-very-financey facade? In what I can only imagine must have been a Herculean display of courage, Woodring asked the question that lurks only in the darkest, dampest recesses of investors’ minds.
“So, how do you monetize AI?” he asked.
You’d think this would come up more. You would be wrong. Instead, Big Tech has taken a largely vibes-driven approach to AI development. Take OpenAI, for instance, which may seem like it’s on top of the world, given how ChatGPT has embedded itself into the cultural consciousness. But the company isn’t planning to make any money until 2030. Analysts from HBSC are even doubtful about that timeline, especially since it will need another $207 billion in funding, estimates say. Ask anyone in tech how OpenAI is planning to break even, and you’ll be met with the verbal equivalent of the ¯_(ツ)_/¯ emoticon.
But good ol’ Tim “$143.8 billion in revenue” Cook was having a good afternoon, so maybe he’d finally spill the beans about how any of these companies are planning to recoup their investments.
His answer was disappointing.
“Well, let me just say that we’re bringing intelligence to more of what people love, and we’re integrating it across the operating system in a personal and private way, and I think that by doing so, it creates great value, and that opens up a range of opportunities across our products and services,” Cook said.
So, there you have it, folks. Apple will monetize AI by creating “great value.” And, crucially, that will “open up a range of opportunities.” Which we will experience in “products and services.” Cool!
Well, shout-out to that Morgan Stanley guy for trying.