AI独角兽苦苦挣扎只能“卖身”，巨头们想了个新招

华尔街见闻08-06

去年，AI初创公司在资本市场上的表现可谓风头无两，吸引了数十亿美元的投资。然而，随着市场对AI技术的怀疑情绪日益增长，加之生成式AI技术的高成本和长周期回报特性，许多初创公司发现自己难以为继，其中不少被迫选择“卖身”求生。而在严厉的垄断监管下，硅谷的科技巨头们别出心裁，以“人才并购”+技术授权的方式伸出了“援手”。例如，谷歌母公司Alphabet最近与Character.AI达成了一项协议，以...

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href=https://wallstreetcn.com/articles/3722935><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>去年，AI初创公司在资本市场上的表现可谓风头无两，吸引了数十亿美元的投资。然而，随着市场对AI技术的怀疑情绪日益增长，加之生成式AI技术的高成本和长周期回报特性，许多初创公司发现自己难以为继，其中不少被迫选择“卖身”求生。\n而在严厉的垄断监管下，硅谷的科技巨头们别出心裁，以“人才并购”+技术授权的方式伸出了“援手”。\n例如，谷歌母公司Alphabet最近与Character.AI达成了一项协议，以...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3722935\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0052756011.USD","symbol_name":"TEMPLETON GLOBAL BALANCED \"A\" (USD) 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themselves\", the giants have come up with a new trick","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FTC":1,"GOOGL":0.9,"GOOG":0.9,"MSFT":0.8,"AMZN":0.8},"content_text":"去年，AI初创公司在资本市场上的表现可谓风头无两，吸引了数十亿美元的投资。然而，随着市场对AI技术的怀疑情绪日益增长，加之生成式AI技术的高成本和长周期回报特性，许多初创公司发现自己难以为继，其中不少被迫选择“卖身”求生。\n而在严厉的垄断监管下，硅谷的科技巨头们别出心裁，以“人才并购”+技术授权的方式伸出了“援手”。\n例如，谷歌母公司Alphabet最近与Character.AI达成了一项协议，以20亿美元的许可费获得了该公司的技术和人才资源。Character.AI 的联合创始人Noam Shazeer 和 Daniel De Freitas将重返谷歌，他们此前均为谷歌的前雇员。\n这种新型收购方式允许科技巨头以支付高额技术许可费的方式，获得初创公司的核心技术和人才，同时避免了直接收购可能带来的监管审查。\n据知情人士透露，谷歌和Character.AI曾考虑直接收购，但最终决定以人才和技术收购的方式规避监管机构的审查。 \n已有三家AI独角兽被大厂收编\n无独有偶，亚马逊和微软此前也分别与Adept AI和Inflection两家AI独角兽采取了类似的方式达成合作。\n微软开创了“人才收购”的模式，今年 3 月份，微软挖角了Inflection 的几乎所有员工，成立了一个新的消费者AI部门，并支付了约 6.5 亿美元购买其技术许可。 \n另据媒体报道，今年 6 月，亚马逊与Adept AI 达成协议，雇佣这家初创公司的大部分员工，并支付约 3.3 亿美元以授权其技术。\n这笔钱加上 Adept 的剩余现金足以偿还投资者，但对于这家去年估值达到 10 亿美元的独角兽来说，这一结局令人唏嘘不已。\n初创公司之困\n当下，AI初创公司面临的主要困境在于，生成式AI的研发和维护需要数亿美元的前期投资，而这些投资往往在短期内难以获得回报。许多初创公司发现，他们根本没有足够的资源和渠道来实现这一目标。\nAI风投公司AIX Ventures 创始合伙人Shaun Johnson)表示：“有很多公司是基于一个宏大的愿景筹集资金，但并没有具体的例子和实际细节。”\n然而，近期市场对AI变现能力的怀疑情绪升温，叠加经济衰退恐慌加剧，美国科技股暴跌，纳斯达克综合指数过去一个月跌幅达到13%。\n投资者对于初创公司的耐心也在减少，越来越多投资者退出这场AI游戏，导致一些初创公司不得不寻找新的融资渠道和合作伙伴。\n监管机构的关注\n“人才并购”，即通过雇佣一家公司的所有关键员工进行收购，是科技巨头绕过传统收购流程和监管审查的常用策略。然而，雇佣一家初创公司的关键员工并以此换取技术使用权，通过支付许可费来获取技术，这种做法是不寻常的。\n随着越来越多AI初创公司以 “人才并购”+技术授权的方式被大厂吞并，监管机构再次警觉起来。\n报道援引业内人士称，美国政府正在加强行动，以阻止这种变相收购交易。\n美国联邦贸易委员会（FTC）正在调查亚马逊与Adept AI以及微软与Inflection的交易，以确定这些交易是否存在故意规避监管审查的嫌疑。\n迈阿密大学专注于反垄断和竞争法的法学教授John Newman表示：“科技巨头知道，他们能够购买数百家小型公司而不引起（监管）挑战的日子已经结束了。”风险提示及免责条款\n\n            市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"Company 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