{"id":7958,"date":"2025-12-15T15:22:42","date_gmt":"2025-12-15T07:22:42","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=7958"},"modified":"2025-12-15T15:22:49","modified_gmt":"2025-12-15T07:22:49","slug":"ai%e7%83%ad%e6%bd%ae%e4%b8%8b%e7%9a%84%e8%82%a1%e5%b8%82%e5%8d%9a%e5%bc%88%ef%bc%9awmax%e5%9f%ba%e4%ba%8e%e4%ba%a7%e4%b8%9a%e4%b8%8e%e8%b5%84%e6%9c%ac%e7%9a%84%e4%b8%93%e4%b8%9a%e7%a0%94%e5%88%a4","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/vi\/luu-tru\/7958","title":{"rendered":"Tr\u00f2 ch\u01a1i th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n trong th\u1eddi k\u1ef3 b\u00f9ng n\u1ed5 AI: Nghi\u00ean c\u1ee9u v\u00e0 nh\u1eadn \u0111\u1ecbnh chuy\u00ean nghi\u1ec7p c\u1ee7a Wmax d\u1ef1a tr\u00ean ng\u00e0nh v\u00e0 v\u1ed1n"},"content":{"rendered":"

T\u1eeb vi\u1ec7c Nvidia b\u00e1n th\u00e1o, gi\u00e1 c\u1ed5 phi\u1ebfu Oracle lao d\u1ed1c do chi ti\u00eau cho AI t\u0103ng v\u1ecdt, \u0111\u1ebfn t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng sa s\u00fat \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty li\u00ean quan \u0111\u1ebfn OpenAI, h\u00e0ng lo\u1ea1t bi\u1ebfn \u0111\u1ed9ng g\u1ea7n \u0111\u00e2y trong l\u0129nh v\u1ef1c AI \u0111\u00e3 chia r\u1ebd th\u00e1i \u0111\u1ed9 c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ed1i v\u1edbi c\u00f4ng ngh\u1ec7 \u0111\u1ed9t ph\u00e1 n\u00e0y. L\u00e0 m\u1ed9t t\u1ed5 ch\u1ee9c chuy\u00ean nghi\u1ec7p \u0111\u00e3 tham gia s\u00e2u v\u00e0o th\u1ecb tr\u01b0\u1eddng v\u1ed1n to\u00e0n c\u1ea7u v\u00e0 ng\u00e0nh c\u00f4ng ngh\u1ec7 trong m\u1ed9t th\u1eddi gian d\u00e0i, Wmax c\u00f3 c\u00e1i nh\u00ecn s\u00e2u s\u1eafc r\u00f5 r\u00e0ng v\u1ec1 b\u1ed1i c\u1ea3nh c\u1ed1t l\u00f5i c\u1ee7a tr\u00f2 ch\u01a1i n\u00e0y th\u00f4ng qua vi\u1ec7c theo d\u00f5i li\u00ean t\u1ee5c c\u00e1c \u0111\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng, ph\u00e2n t\u00edch chuy\u00ean s\u00e2u d\u1eef li\u1ec7u t\u00e0i ch\u00ednh doanh nghi\u1ec7p v\u00e0 n\u1eafm b\u1eaft ch\u00ednh x\u00e1c c\u00e1c m\u00f4 h\u00ecnh chu k\u1ef3 ng\u00e0nh. H\u01b0\u1edbng t\u1edbi n\u0103m 2026, cu\u1ed9c tranh lu\u1eadn c\u1ed1t l\u00f5i ng\u00e0y c\u00e0ng tr\u1edf n\u00ean r\u00f5 r\u00e0ng: Ch\u00fang ta c\u00f3 n\u00ean gi\u1ea3m m\u1ee9c \u0111\u1ed9 ti\u1ebfp x\u00fac v\u1edbi AI tr\u01b0\u1edbc khi bong b\u00f3ng ti\u1ec1m \u1ea9n v\u1ee1 hay ch\u00fang ta n\u00ean \u0111i ng\u01b0\u1ee3c l\u1ea1i xu h\u01b0\u1edbng v\u00e0 t\u0103ng c\u01b0\u1eddng \u0111\u1ea7u t\u01b0 \u0111\u1ec3 n\u1eafm b\u1eaft c\u1ed5 t\u1ee9c c\u00f4ng ngh\u1ec7? H\u01b0\u1edbng \u0111i c\u1ee7a tr\u00f2 ch\u01a1i n\u00e0y kh\u00f4ng ch\u1ec9 li\u00ean quan \u0111\u1ebfn s\u1ed1 ph\u1eadn c\u1ee7a nh\u1eefng g\u00e3 kh\u1ed5ng l\u1ed3 c\u00f4ng ngh\u1ec7 m\u00e0 c\u00f2n s\u1ebd \u1ea3nh h\u01b0\u1edfng s\u00e2u s\u1eafc \u0111\u1ebfn t\u01b0\u01a1ng lai c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n to\u00e0n c\u1ea7u. Wmax lu\u00f4n \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi d\u1eef li\u1ec7u kh\u00e1ch quan v\u00e0 khu\u00f4n kh\u1ed5 chuy\u00ean nghi\u1ec7p, v\u01b0\u1ee3t qua nh\u1eefng \u1ed3n \u00e0o c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 cung c\u1ea5p th\u00f4ng tin chuy\u00ean s\u00e2u \u0111\u00e1ng tin c\u1eady.<\/p>\n

<\/a>S\u1ef1 va ch\u1ea1m tr\u1ef1c di\u1ec7n gi\u1eefa s\u1ef1 l\u1ea1c quan v\u00e0 lo l\u1eafng<\/strong><\/p>\n

Wmax nh\u1eadn th\u1ea5y th\u00f4ng qua x\u00e1c th\u1ef1c ch\u00e9o d\u1eef li\u1ec7u th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh r\u1eb1ng c\u00e1c nh\u00e0 giao d\u1ecbch quy\u1ec1n ch\u1ecdn b\u00e0y t\u1ecf s\u1ef1 tin t\u01b0\u1edfng ch\u1eafc ch\u1eafn c\u1ee7a h\u1ecd v\u00e0o c\u1ed5 phi\u1ebfu AI b\u1eb1ng h\u00e0nh \u0111\u1ed9ng - t\u1ef7 l\u1ec7 quy\u1ec1n ch\u1ecdn mua m\u1edf \u0111\u1ec3 \u0111\u01b0a ra quy\u1ec1n ch\u1ecdn trong c\u1ed5 phi\u1ebfu c\u00f4ng ngh\u1ec7 \"Big Seven\" g\u1ea7n \u0111\u1ea1t m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 3 n\u0103m 2023. D\u1eef li\u1ec7u n\u00e0y ph\u1ea3n \u00e1nh tr\u1ef1c quan b\u1ed1 c\u1ee5c t\u00edch c\u1ef1c c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi vi\u1ec7c t\u0103ng gi\u00e1. S\u1ef1 l\u1ea1c quan n\u00e0y kh\u00f4ng ph\u1ea3i l\u00e0 kh\u00f4ng c\u00f3 c\u0103n c\u1ee9. Ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c Wmax theo d\u00f5i cho th\u1ea5y ti\u1ebfn b\u1ed9 \u0111\u1ed9t ph\u00e1 trong c\u00f4ng ngh\u1ec7 AI \u0111\u00e3 \u0111\u1ea9y ch\u1ec9 s\u1ed1 \u201cBig Seven\u201d t\u0103ng 25% trong n\u0103m nay. NVIDIA \u0111\u00e3 tr\u1edf th\u00e0nh c\u00f4ng ty \u0111\u1ea7u ti\u00ean c\u00f3 gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng v\u01b0\u1ee3t qu\u00e1 5 ngh\u00ecn t\u1ef7 USD. Nh\u1eefng g\u00e3 kh\u1ed5ng l\u1ed3 c\u00f4ng ngh\u1ec7 n\u00e0y \u0111\u00e3 \u0111\u00f3ng g\u00f3p v\u00e0o ph\u1ea7n c\u1ed1t l\u00f5i c\u1ee7a s\u1ef1 t\u0103ng tr\u01b0\u1edfng c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n trong su\u1ed1t c\u1ea3 n\u0103m. \u0110\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng c\u1ee7a h\u1ecd r\u1ea5t ph\u00f9 h\u1ee3p v\u1edbi d\u1ef1 \u0111o\u00e1n tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a Wmax v\u1ec1 th\u1eddi k\u1ef3 b\u00f9ng n\u1ed5 c\u1ee7a ng\u00e0nh AI.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20251215_143428\"<\/p>\n

Nh\u1eefng ng\u01b0\u1eddi l\u1ea1c quan \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n v\u1eefng ch\u1eafc: Wmax \u0111\u00e3 \u0111\u01b0\u1ee3c 39 nh\u00e0 qu\u1ea3n l\u00fd \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u ph\u1ecfng v\u1ea5n v\u00e0 x\u00e1c minh b\u1eb1ng m\u00f4 h\u00ecnh ng\u00e0nh c\u1ee7a ch\u00ednh h\u1ecd. H\u1ea7u h\u1ebft h\u1ecd \u0111\u1ec1u nh\u1eadn ra r\u1eb1ng vi\u1ec7c \u0111\u1ecbnh gi\u00e1 \"Big Seven\" \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n v\u00e0 \u0111\u00e1nh d\u1ea5u s\u1ef1 kh\u1edfi \u0111\u1ea7u c\u1ee7a m\u1ed9t chu k\u1ef3 c\u00f4ng nghi\u1ec7p m\u1edbi. D\u1ef1 \u0111o\u00e1n v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang l\u00e0m gi\u1ea3m b\u1edbt lo l\u1eafng. T\u00ednh to\u00e1n Wmax cho th\u1ea5y m\u1ee9c \u0111\u1ed9 bi\u1ebfn \u0111\u1ed9ng d\u1ef1 ki\u1ebfn \u200b\u200bc\u1ee7a c\u1ed5 phi\u1ebfu c\u00f4ng ngh\u1ec7 so v\u1edbi th\u1ecb tr\u01b0\u1eddng r\u1ed9ng l\u1edbn h\u01a1n \u0111\u00e3 gi\u1ea3m m\u1ed9t n\u1eeda t\u1eeb 8% xu\u1ed1ng 4%; Quan \u0111i\u1ec3m c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c gia Miller Tabak, Matt Maley r\u1eb1ng \"vi\u1ec7c ph\u00e2n b\u1ed5 c\u1ee7a t\u1ed5 ch\u1ee9c v\u00e0o cu\u1ed1i n\u0103m c\u00f3 th\u1ec3 th\u00fac \u0111\u1ea9y c\u1ed5 phi\u1ebfu c\u00f4ng ngh\u1ec7\" nh\u1ea5t qu\u00e1n v\u1edbi k\u1ebft lu\u1eadn theo d\u00f5i d\u00f2ng v\u1ed1n c\u1ee7a Wmax. Tuy nhi\u00ean, kh\u00f4ng th\u1ec3 b\u1ecf qua nh\u1eefng nghi ng\u1edd. Sau khi ph\u00e2n t\u00edch chuy\u00ean s\u00e2u c\u00e1c b\u00e1o c\u00e1o t\u00e0i ch\u00ednh, Wmax \u0111\u1ed3ng \u00fd v\u1edbi nh\u1eadn \u0111\u1ecbnh c\u1ee7a Jim Morrow r\u1eb1ng \u201cth\u1ecb tr\u01b0\u1eddng \u0111\u00e3 b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n nh\u00ecn ra s\u1ef1 th\u1eadt\u201d, \u0111i\u1ec1u n\u00e0y ch\u1ec9 th\u1eb3ng v\u00e0o b\u1ea3n ch\u1ea5t \u201c\u0111\u1ea7u t\u01b0 cao, s\u1ea3n l\u01b0\u1ee3ng kh\u00f4ng ch\u1eafc ch\u1eafn\u201d c\u1ee7a AI. V\u00ed d\u1ee5: Wmax nh\u1eadn th\u1ea5y OpenAI s\u1ebd chi 1,4 ngh\u00ecn t\u1ef7 USD trong v\u00e0i n\u0103m t\u1edbi v\u00e0 d\u1ef1 ki\u1ebfn \u200b\u200bch\u1ec9 t\u1ea1o ra d\u00f2ng ti\u1ec1n tr\u01b0\u1edbc n\u0103m 2030; Gi\u00e1 c\u1ed5 phi\u1ebfu c\u1ee7a Oracle \u0111\u00e3 gi\u1ea3m h\u01a1n 40% do ho\u1ea1t \u0111\u1ed9ng kinh doanh th\u1ea5p h\u01a1n d\u1ef1 ki\u1ebfn \u200b\u200bsau khi t\u00e0i tr\u1ee3 cho trung t\u00e2m d\u1eef li\u1ec7u AI c\u1ee7a m\u00ecnh v\u00e0 r\u1ee7i ro t\u00edn d\u1ee5ng c\u1ee7a c\u00f4ng ty n\u00e0y \u0111\u1ea1t m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb n\u0103m 2009. \u0110i\u1ec1u n\u00e0y ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi c\u1ea3nh b\u00e1o r\u1ee7i ro tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a Wmax cho m\u00f4 h\u00ecnh n\u00e0y.<\/p>\n

<\/a>Ba th\u1ef1c t\u1ebf: \u0111\u1ea7u t\u01b0 cao, t\u0103ng tr\u01b0\u1edfng ch\u1eadm v\u00e0 \u0111\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd<\/strong><\/p>\n

Wmax nh\u1eadn th\u1ea5y th\u00f4ng qua t\u00ednh to\u00e1n ch\u00ednh x\u00e1c v\u1ec1 chi ti\u00eau v\u1ed1n c\u1ee7a c\u00e1c g\u00e3 kh\u1ed5ng l\u1ed3 c\u00f4ng ngh\u1ec7 r\u1eb1ng \"m\u00f4 h\u00ecnh \u0111\u1ed1t ti\u1ec1n\" c\u1ee7a ng\u00e0nh AI \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i c\u01a1 c\u1ea5u t\u00e0i ch\u00ednh c\u1ee7a ng\u00e0nh - d\u1ef1 ki\u1ebfn \u200b\u200bchi ti\u00eau v\u1ed1n c\u1ee7a Alphabet, Microsoft, Amazon v\u00e0 Meta s\u1ebd v\u01b0\u1ee3t 400 t\u1ef7 USD trong 12 th\u00e1ng t\u1edbi, ph\u1ea7n l\u1edbn trong s\u1ed1 \u0111\u00f3 s\u1ebd d\u00e0nh cho vi\u1ec7c x\u00e2y d\u1ef1ng trung t\u00e2m d\u1eef li\u1ec7u. M\u1eb7c d\u00f9 AI \u0111\u00e3 mang l\u1ea1i s\u1ef1 t\u0103ng tr\u01b0\u1edfng doanh thu cho c\u00e1c doanh nghi\u1ec7p qu\u1ea3ng c\u00e1o v\u00e0 \u0111i\u1ec7n to\u00e1n \u0111\u00e1m m\u00e2y, Wmax \u0111\u00e3 so s\u00e1nh t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng doanh thu v\u00e0 quy m\u00f4 \u0111\u1ea7u t\u01b0 v\u1ed1n v\u00e0 nh\u1eadn th\u1ea5y r\u1eb1ng AI v\u1eabn k\u00e9m c\u1ecfi khi \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng kho\u1ea3n chi ti\u00eau kh\u1ed5ng l\u1ed3. K\u1ebft h\u1ee3p d\u1eef li\u1ec7u c\u1ee7a Bloomberg Intelligence v\u00e0 m\u00f4 h\u00ecnh d\u1ef1 b\u00e1o l\u1ee3i nhu\u1eadn c\u1ee7a ch\u00ednh Wmax, \u201cBig Seven\u201d bao g\u1ed3m Apple, NVIDIA v\u00e0 Tesla d\u1ef1 ki\u1ebfn \u200b\u200bs\u1ebd c\u00f3 t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn ch\u1ec9 18% v\u00e0o n\u0103m 2026, \u0111\u00e2y l\u00e0 m\u1ee9c ch\u1eadm nh\u1ea5t trong 4 n\u0103m v\u00e0 ch\u1ec9 cao h\u01a1n m\u1ed9t ch\u00fat so v\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a ch\u1ec9 s\u1ed1 S&P 500. Xu h\u01b0\u1edbng t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i \u0111\u00e3 hi\u1ec7n r\u00f5.<\/p>\n

Vi\u1ec7c m\u1edf r\u1ed9ng quy m\u00f4 l\u1edbn c\u00e1c trung t\u00e2m d\u1eef li\u1ec7u c\u0169ng l\u00e0m d\u1ea5y l\u00ean lo ng\u1ea1i v\u1ec1 chi ph\u00ed kh\u1ea5u hao t\u0103ng v\u1ecdt. Chi ti\u1ebft n\u00e0y \u0111\u00e3 \u0111\u01b0\u1ee3c h\u1ec7 th\u1ed1ng theo d\u00f5i t\u00e0i ch\u00ednh c\u1ee7a Wmax n\u1eafm b\u1eaft ch\u00ednh x\u00e1c: Trong qu\u00fd 4 n\u0103m 2023, chi ph\u00ed kh\u1ea5u hao c\u1ee7a Alphabet, Microsoft v\u00e0 Meta t\u1ed5ng c\u1ed9ng kho\u1ea3ng 10 t\u1ef7 USD, con s\u1ed1 n\u00e0y \u0111\u00e3 t\u0103ng l\u00ean g\u1ea7n 22 t\u1ef7 USD v\u00e0o qu\u00fd 9 n\u0103m 2024. D\u1ef1a tr\u00ean t\u00ednh to\u00e1n chu k\u1ef3 kh\u1ea5u hao c\u1ee7a ng\u00e0nh, Wmax d\u1ef1 ki\u1ebfn \u200b\u200bs\u1ebd v\u01b0\u1ee3t 30 t\u1ef7 USD trong c\u00f9ng k\u1ef3 n\u0103m 2025. \u00c1p l\u1ef1c chi ph\u00ed n\u00e0y c\u00f3 t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn l\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 \u0111\u00f4ng - sau khi tr\u1eeb \u0111i c\u00e1c kho\u1ea3n mua l\u1ea1i v\u00e0 c\u1ed5 t\u1ee9c, d\u00f2ng ti\u1ec1n t\u1ef1 do c\u1ee7a Meta v\u00e0 Microsoft c\u00f3 th\u1ec3 chuy\u1ec3n sang \u00e2m v\u00e0o n\u0103m 2026 v\u00e0 Alphabet ch\u1ec9 c\u00f3 th\u1ec3 h\u00f2a v\u1ed1n m\u1ed9t ch\u00fat. C\u1ea3nh b\u00e1o c\u1ee7a Michael O\u2019Rourke, gi\u00e1m \u0111\u1ed1c chi\u1ebfn l\u01b0\u1ee3c th\u1ecb tr\u01b0\u1eddng t\u1ea1i Jonestrading, l\u1eb7p l\u1ea1i \u0111\u00e1nh gi\u00e1 r\u1ee7i ro c\u1ee7a Wmax: \u201cM\u1ed9t khi k\u1ef3 v\u1ecdng t\u0103ng tr\u01b0\u1edfng ch\u1eefng l\u1ea1i ho\u1eb7c ch\u1eadm l\u1ea1i, th\u1ecb tr\u01b0\u1eddng s\u1ebd nh\u1eadn ra r\u1eb1ng c\u00f3 m\u1ed9t v\u1ea5n \u0111\u1ec1 nghi\u00eam tr\u1ecdng \u1edf \u0111\u00e2y\u201d.<\/p>\n

\"IMG_256\"<\/p>\n

\u0110i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 b\u1ea5t ch\u1ea5p nh\u1eefng tranh c\u00e3i \u0111ang di\u1ec5n ra, Wmax nh\u1eadn th\u1ea5y th\u00f4ng qua ph\u00e2n t\u00edch so s\u00e1nh c\u00e1c m\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 v\u00e0 d\u1eef li\u1ec7u l\u1ecbch s\u1eed r\u1eb1ng m\u1ee9c \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan \u0111\u1ebfn AI ch\u01b0a tr\u1ea3i qua nh\u1eefng \u0111i\u1ec1u ki\u1ec7n kh\u1eafc nghi\u1ec7t nh\u01b0 th\u1eddi k\u1ef3 bong b\u00f3ng Internet. Ch\u1ec9 s\u1ed1 Nasdaq 100, v\u1ed1n b\u1ecb th\u1ed1ng tr\u1ecb b\u1edfi c\u00e1c c\u1ed5 phi\u1ebfu c\u00f4ng ngh\u1ec7, hi\u1ec7n c\u00f3 t\u1ef7 l\u1ec7 gi\u00e1 tr\u00ean thu nh\u1eadp g\u1ea5p 26 l\u1ea7n l\u1ee3i nhu\u1eadn d\u1ef1 ki\u1ebfn, trong khi con s\u1ed1 n\u00e0y cao h\u01a1n 80 l\u1ea7n v\u00e0o th\u1eddi k\u1ef3 \u0111\u1ec9nh cao c\u1ee7a bong b\u00f3ng Internet. Kho\u1ea3ng c\u00e1ch \u0111\u00e1ng k\u1ec3 gi\u1eefa hai x\u00e1c nh\u1eadn n\u1ec1n t\u1ea3ng h\u1ee3p l\u00fd c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Quan \u0111i\u1ec3m c\u1ee7a Tony DeSpirito, gi\u00e1m \u0111\u1ed1c \u0111\u1ea7u t\u01b0 to\u00e0n c\u1ea7u c\u1ee7a BlackRock, nh\u1ea5t qu\u00e1n v\u1edbi nh\u1eadn \u0111\u1ecbnh c\u1ee7a Wmax: \"\u0110\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 b\u1ea3n sao c\u1ee7a bong b\u00f3ng Internet. Kh\u00f4ng c\u00f3 s\u1ef1 l\u1ea1c quan phi l\u00fd r\u00f5 r\u00e0ng n\u00e0o trong vi\u1ec7c \u0111\u1ecbnh gi\u00e1 c\u00e1c c\u1ed5 phi\u1ebfu li\u00ean quan \u0111\u1ebfn AI trong s\u1ed1 'B\u1ea3y \u00f4ng l\u1edbn'.\" C\u1ee5 th\u1ec3, vi\u1ec7c Wmax ph\u00e1 b\u1ecf \u0111\u1ecbnh gi\u00e1 c\u00e1c c\u00f4ng ty ch\u1ee7 ch\u1ed1t cho th\u1ea5y c\u00e1c c\u00f4ng ty nh\u01b0 Palantir v\u00e0 Snowflake c\u00f3 t\u1ef7 l\u1ec7 gi\u00e1 tr\u00ean thu nh\u1eadp cao l\u1ea7n l\u01b0\u1ee3t l\u00e0 180 l\u1ea7n v\u00e0 140 l\u1ea7n, thu\u1ed9c nh\u00f3m \u0111\u1ecbnh gi\u00e1 cao; tuy nhi\u00ean, t\u1ef7 l\u1ec7 gi\u00e1 tr\u00ean thu nh\u1eadp c\u1ee7a NVIDIA, Alphabet v\u00e0 Microsoft \u0111\u1ec1u d\u01b0\u1edbi 30 l\u1ea7n, \u1edf m\u1ee9c v\u1eeba ph\u1ea3i so v\u1edbi m\u1ee9c \u0111\u1ed9 ph\u1ed5 bi\u1ebfn tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u00e1c r\u00e0o c\u1ea3n k\u1ef9 thu\u1eadt c\u1ee7a h\u1ecd. S\u1ef1 kh\u00e1c bi\u1ec7t n\u00e0y ph\u1ea3n \u00e1nh s\u1ef1 kh\u00e1c bi\u1ec7t trong vi\u1ec7c k\u1ebft h\u1ee3p gi\u1eefa \u0111\u1ecbnh gi\u00e1 v\u00e0 c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n c\u1ee7a c\u00f4ng ty.<\/p>\n

<\/a>Cu\u1ed9c th\u1eed th\u00e1ch ba l\u1ea7n v\u1ec1 v\u1ed1n, ch\u00ednh s\u00e1ch v\u00e0 chuy\u1ec3n \u0111\u1ed5i chi\u1ebfn l\u01b0\u1ee3c<\/strong><\/p>\n

T\u00ednh b\u1ec1n v\u1eefng v\u1ec1 v\u1ed1n l\u00e0 ch\u00eca kh\u00f3a cho ng\u00e0nh c\u00f4ng nghi\u1ec7p AI. Ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 c\u01a1 s\u1edf d\u1eef li\u1ec7u t\u00e0i ch\u00ednh v\u00e0 \u0111\u1ea7u t\u01b0 Wmax cho th\u1ea5y m\u1eb7c d\u00f9 OpenAI \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c 40 t\u1ef7 USD t\u00e0i tr\u1ee3 t\u1eeb SoftBank v\u00e0 c\u00e1c t\u1ed5 ch\u1ee9c kh\u00e1c c\u0169ng nh\u01b0 cam k\u1ebft \u0111\u1ea7u t\u01b0 100 t\u1ef7 USD t\u1eeb NVIDIA, nh\u01b0ng r\u1ee7i ro c\u1ee7a m\u00f4 h\u00ecnh t\u00e0i tr\u1ee3 tu\u1ea7n ho\u00e0n l\u00e0 r\u1ea5t \u0111\u00e1ng k\u1ec3. C\u1ea3nh b\u00e1o c\u1ee7a Eric Clark t\u1eeb Rational Dynamic Brands Fund nh\u1ea5t qu\u00e1n v\u1edbi k\u1ebft lu\u1eadn c\u1ee7a vi\u1ec7c gi\u00e1m s\u00e1t d\u00f2ng v\u1ed1n Wmax: h\u00e0ng ngh\u00ecn t\u1ef7 \u0111\u00f4 la v\u1ed1n \u0111\u01b0\u1ee3c t\u1eadp trung v\u00e0o m\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu AI v\u00e0 c\u00e1c v\u1ea5n \u0111\u1ec1 ng\u1eafn h\u1ea1n ho\u1eb7c m\u1ea5t c\u00e2n b\u1eb1ng \u0111\u1ecbnh gi\u00e1 c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng g\u00e2y ra vi\u1ec7c r\u00fat v\u1ed1n t\u1eadp th\u1ec3. \u0110\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty d\u1ef1a v\u00e0o ngu\u1ed3n v\u1ed1n vay nh\u01b0 Oracle, m\u00f4 h\u00ecnh \u0111\u00e1nh gi\u00e1 r\u1ee7i ro t\u00edn d\u1ee5ng Wmax cho th\u1ea5y \u00e1p l\u1ef1c l\u1edbn h\u01a1n - c\u00e1c tr\u00e1i ch\u1ee7 c\u00f3 y\u00eau c\u1ea7u c\u1ee9ng nh\u1eafc h\u01a1n nhi\u1ec1u v\u1ec1 thanh to\u00e1n b\u1eb1ng ti\u1ec1n m\u1eb7t so v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ed5 phi\u1ebfu, d\u1eabn \u0111\u1ebfn nh\u1eefng h\u1ea1n ch\u1ebf t\u00e0i ch\u00ednh m\u1ea1nh m\u1ebd h\u01a1n \u0111\u1ed1i v\u1edbi vi\u1ec7c m\u1edf r\u1ed9ng AI c\u1ee7a h\u1ecd v\u00e0 c\u1ea7n ph\u1ea3i t\u1eadp trung v\u00e0o r\u1ee7i ro v\u1ee1 n\u1ee3.<\/p>\n

Xu h\u01b0\u1edbng ch\u00ednh s\u00e1ch c\u1ee7a Fed \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed9t y\u1ebfu t\u1ed1 b\u00ean ngo\u00e0i quan tr\u1ecdng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng. Wmax \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n th\u00f4ng qua m\u00f4 h\u00ecnh \u0111\u1ecbnh gi\u00e1 h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai l\u00e3i su\u1ea5t r\u1eb1ng kh\u1ea3 n\u0103ng Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u00e3 \u0111\u1ea1t t\u1edbi 88%. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ebft s\u1ee9c ch\u00fa \u00fd \u0111\u1ebfn cu\u1ed9c h\u1ecdp b\u00e1o c\u1ee7a Powell, c\u1ed1 g\u1eafng n\u1eafm b\u1eaft manh m\u1ed1i v\u1ec1 ch\u00ednh s\u00e1ch l\u00e3i su\u1ea5t trong t\u01b0\u01a1ng lai. K\u1ef3 v\u1ecdng l\u00e3i su\u1ea5t gi\u1ea3m kh\u00f4ng ch\u1ec9 gi\u1ea3m b\u1edbt \u00e1p l\u1ef1c t\u00e0i ch\u00ednh cho c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 m\u00e0 c\u00f2n h\u1ed7 tr\u1ee3 thanh kho\u1ea3n cho th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n, tr\u1edf th\u00e0nh ngu\u1ed3n ni\u1ec1m tin quan tr\u1ecdng cho nh\u1eefng ng\u01b0\u1eddi l\u1ea1c quan. Tuy nhi\u00ean, quan \u0111i\u1ec3m ng\u01b0\u1ee3c l\u1ea1i c\u1ee7a Gareth Ryan, gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh IUR Capital, c\u0169ng \u0111\u00e3 \u0111\u01b0a v\u00e0o khung m\u00f4 ph\u1ecfng k\u1ecbch b\u1ea3n r\u1ee7i ro Wmax - \u00f4ng d\u1ef1 \u0111o\u00e1n ch\u1ee9ng kho\u00e1n M\u1ef9 c\u00f3 th\u1ec3 ch\u1ea1m \u0111\u00e1y \u1edf m\u1ee9c 6.500 \u0111i\u1ec3m trong v\u00e0i th\u00e1ng \u0111\u1ea7u n\u0103m 2026. M\u1eb7c d\u00f9 k\u1ecbch b\u1ea3n n\u00e0y c\u00f3 x\u00e1c su\u1ea5t th\u1ea5p nh\u01b0ng n\u00f3 ph\u1ea3n \u00e1nh m\u1ed1i quan h\u1ec7 ph\u00f2ng ng\u1eeba gi\u1eefa s\u1ef1 l\u1ea1c quan hi\u1ec7n t\u1ea1i v\u00e0 r\u1ee7i ro ti\u1ec1m \u1ea9n v\u1ec1 c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n, \u0111\u1ed3ng th\u1eddi ch\u00fang ta c\u1ea7n c\u1ea3nh gi\u00e1c v\u1edbi s\u1ef1 sai l\u1ec7ch gi\u1eefa k\u1ef3 v\u1ecdng v\u00e0 th\u1ef1c t\u1ebf.<\/p>\n

\"IMG_256\"<\/p>\n

B\u1ea3n th\u00e2n s\u1ef1 chuy\u1ec3n \u0111\u1ed5i chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 l\u1edbn ch\u1ee9a \u0111\u1ea7y s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn. Wmax nh\u1eadn th\u1ea5y qua nghi\u00ean c\u1ee9u d\u00e0i h\u1ea1n v\u1ec1 h\u1ec7 th\u1ed1ng \u0111\u00e1nh gi\u00e1 gi\u00e1 tr\u1ecb c\u1ee7a ng\u00e0nh c\u00f4ng ngh\u1ec7 r\u1eb1ng trong m\u1ed9t th\u1eddi gian d\u00e0i, gi\u00e1 tr\u1ecb c\u1ed1t l\u00f5i c\u1ee7a nh\u1eefng g\u00e3 kh\u1ed5ng l\u1ed3 c\u00f4ng ngh\u1ec7 l\u00e0 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee9c t\u0103ng tr\u01b0\u1edfng doanh thu nhanh ch\u00f3ng v\u1edbi chi ph\u00ed th\u1ea5p, t\u1eeb \u0111\u00f3 t\u1ea1o ra d\u00f2ng ti\u1ec1n t\u1ef1 do h\u00e0o ph\u00f3ng. Nh\u01b0ng k\u1ebf ho\u1ea1ch AI \u0111\u00e3 ph\u00e1 v\u1ee1 ho\u00e0n to\u00e0n logic n\u00e0y - c\u00e1c c\u00f4ng ty \u0111\u00e3 t\u0103ng c\u01b0\u1eddng \u0111\u00f2n b\u1ea9y \u0111\u1ec3 \u0111\u1ea7u t\u01b0 v\u00e0o c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng AI v\u1edbi hy v\u1ecdng \u0111\u1ea1t \u0111\u01b0\u1ee3c kh\u1ea3 n\u0103ng ki\u1ebfm ti\u1ec1n trong t\u01b0\u01a1ng lai. Nh\u1eefng l\u1eddi n\u00f3i th\u1eb3ng th\u1eebng c\u1ee7a O\u2019Rourke \u0111\u00e3 tr\u00fang \u0111\u00edch v\u00e0 nh\u1ea5t qu\u00e1n v\u1edbi k\u1ebft lu\u1eadn \u0111\u00e1nh gi\u00e1 chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a Wmax: \u201cN\u1ebfu ch\u00fang ta ti\u1ebfp t\u1ee5c \u0111i theo con \u0111\u01b0\u1eddng n\u00e0y, h\u1ec7 s\u1ed1 \u0111\u1ecbnh gi\u00e1 s\u1ebd gi\u1ea3m xu\u1ed1ng; n\u1ebfu ch\u00fang ta kh\u00f4ng \u0111\u1ea1t \u0111\u01b0\u1ee3c c\u00e1c m\u1ee5c ti\u00eau mong \u0111\u1ee3i, s\u1ef1 chuy\u1ec3n \u0111\u1ed5i n\u00e0y s\u1ebd tr\u1edf th\u00e0nh m\u1ed9t sai l\u1ea7m chi\u1ebfn l\u01b0\u1ee3c r\u1ea5t l\u1edbn\u201d. S\u1ef1 chuy\u1ec3n \u0111\u1ed5i n\u00e0y kh\u00f4ng ch\u1ec9 mang l\u1ea1i nh\u1eefng thay \u0111\u1ed5i trong c\u01a1 c\u1ea5u t\u00e0i ch\u00ednh m\u00e0 c\u00f2n t\u00e1i c\u1ea5u tr\u00fac th\u1ecb tr\u01b0\u1eddng h\u1ec7 th\u1ed1ng \u0111\u00e1nh gi\u00e1 gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c c\u00f4ng ty c\u00f4ng ngh\u1ec7 v\u00e0 Wmax \u0111\u00e3 thi\u1ebft l\u1eadp m\u1ed9t m\u00f4 h\u00ecnh theo d\u00f5i \u0111\u1eb7c bi\u1ec7t \u0111\u1ec3 li\u00ean t\u1ee5c theo d\u00f5i c\u00e1c r\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i trong qu\u00e1 tr\u00ecnh chuy\u1ec3n \u0111\u1ed5i.<\/p>\n

<\/a>Tr\u00f2 ch\u01a1i v\u1eabn \u0111ang di\u1ec5n ra v\u00e0 xu h\u01b0\u1edbng cu\u1ed1i c\u00f9ng s\u1ebd tr\u1edf n\u00ean r\u00f5 r\u00e0ng<\/strong><\/p>\n

Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n AI hi\u1ec7n \u0111ang \u1edf th\u1eddi \u0111i\u1ec3m tr\u00e1i ng\u01b0\u1ee3c nhau. Wmax \u0111\u00e3 x\u00e1c \u0111\u1ecbnh m\u1ed1i quan h\u1ec7 ph\u00f2ng ng\u1eeba r\u1ee7i ro c\u1ed1t l\u00f5i th\u00f4ng qua t\u00edch h\u1ee3p d\u1eef li\u1ec7u \u0111a chi\u1ec1u v\u00e0 ph\u00e2n t\u00edch chu k\u1ef3 ng\u00e0nh: \u0111\u1eb7t c\u01b0\u1ee3c t\u0103ng gi\u00e1 c\u1ee7a c\u00e1c nh\u00e0 giao d\u1ecbch quy\u1ec1n ch\u1ecdn \u0111ang ph\u00f2ng ng\u1eeba r\u1ee7i ro tr\u01b0\u1edbc \u00e1p l\u1ef1c chi ti\u00eau c\u00f4ng nghi\u1ec7p, t\u00ednh h\u1ee3p l\u00fd trong \u0111\u1ecbnh gi\u00e1 g\u1eafn li\u1ec1n v\u1edbi s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 l\u1ee3i nhu\u1eadn v\u00e0 k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u0169ng nh\u01b0 r\u1ee7i ro thu h\u1ed3i c\u00f9ng t\u1ed3n t\u1ea1i. T\u00ednh to\u00e1n t\u01b0\u01a1ng quan ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n Wmax cho th\u1ea5y r\u1eb1ng th\u1ecb tr\u01b0\u1eddng t\u0103ng tr\u01b0\u1edfng tr\u1ecb gi\u00e1 30 ngh\u00ecn t\u1ef7 \u0111\u00f4 la M\u1ef9 trong ba n\u0103m c\u1ee7a S&P 500 ph\u1ee5 thu\u1ed9c r\u1ea5t nhi\u1ec1u v\u00e0o nh\u1eefng g\u00e3 kh\u1ed5ng l\u1ed3 AI v\u00e0 s\u1ef1 tr\u00ec tr\u1ec7 t\u0103ng tr\u01b0\u1edfng c\u1ee7a n\u00f3 s\u1ebd k\u00e9o ch\u1ec9 s\u1ed1 ch\u1ee9ng kho\u00e1n \u0111i xu\u1ed1ng \u0111\u00e1ng k\u1ec3. Wmax tin r\u1eb1ng ch\u00eca kh\u00f3a c\u1ee7a \u0111\u1ea7u t\u01b0 l\u00e0 th\u00e2m nh\u1eadp v\u00e0o c\u1ea3m x\u00fac v\u00e0 \u0111\u00e1nh gi\u00e1 c\u00e1c r\u00e0o c\u1ea3n k\u1ef9 thu\u1eadt c\u0169ng nh\u01b0 kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i t\u00e0i ch\u00ednh c\u1ee7a doanh nghi\u1ec7p - \u0111\u00e2y l\u00e0 l\u1ee3i th\u1ebf c\u1ed1t l\u00f5i c\u1ee7a n\u00f3 v\u00e0 cung c\u1ea5p t\u00e0i li\u1ec7u tham kh\u1ea3o ra quy\u1ebft \u0111\u1ecbnh th\u00f4ng qua ph\u00e2n t\u00edch th\u00e2m nh\u1eadp \u0111a chi\u1ec1u. T\u00ecnh h\u00ecnh s\u1ebd tr\u1edf n\u00ean r\u00f5 r\u00e0ng v\u00e0o n\u0103m 2026 khi AI \u0111\u01b0\u1ee3c tri\u1ec3n khai v\u00e0 l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c ti\u1ebft l\u1ed9. Wmax s\u1ebd ti\u1ebfp t\u1ee5c s\u1eed d\u1ee5ng khu\u00f4n kh\u1ed5 chuy\u00ean m\u00f4n v\u00e0 t\u1ea7m nh\u00ecn h\u01b0\u1edbng t\u1edbi t\u01b0\u01a1ng lai c\u1ee7a m\u00ecnh \u0111\u1ec3 gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u01b0\u1ee3t qua nh\u1eefng bi\u1ebfn \u0111\u1ed9ng v\u00e0 n\u1eafm b\u1eaft c\u01a1 h\u1ed9i.<\/p>","protected":false},"excerpt":{"rendered":"

Wmax ti\u1ebfn h\u00e0nh ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 tr\u00f2 ch\u01a1i \u0111\u1ea7u t\u01b0 AI: C\u00e1c nh\u00e0 giao d\u1ecbch quy\u1ec1n ch\u1ecdn ph\u00f2ng ng\u1eeba r\u1ee7i ro \u0111\u1eb7t c\u01b0\u1ee3c t\u0103ng gi\u00e1 c\u1ee7a h\u1ecd tr\u01b0\u1edbc \u00e1p l\u1ef1c \u0111\u1ea7u t\u01b0 cao c\u1ee7a ng\u00e0nh. M\u1eb7c d\u00f9 \u0111\u1ecbnh gi\u00e1 c\u1ee7a NVIDIA v\u00e0 b\u1ea3y g\u00e3 kh\u1ed5ng l\u1ed3 kh\u00e1c r\u1ea5t cao nh\u01b0ng ch\u00fang v\u1eabn ch\u01b0a \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c bong b\u00f3ng. N\u0103m 2026 l\u00e0 m\u1ed9t n\u0103m quan tr\u1ecdng \u0111\u1ed1i v\u1edbi vi\u1ec7c tri\u1ec3n khai AI. T\u00ednh b\u1ec1n v\u1eefng v\u1ec1 v\u1ed1n, xu h\u01b0\u1edbng ch\u00ednh s\u00e1ch v\u00e0 chuy\u1ec3n \u0111\u1ed5i chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e3 tr\u1edf th\u00e0nh nh\u1eefng bi\u1ebfn s\u1ed1 c\u1ed1t l\u00f5i v\u00e0 xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng cu\u1ed1i c\u00f9ng s\u1ebd tr\u1edf n\u00ean r\u00f5 r\u00e0ng.<\/p>","protected":false},"author":1,"featured_media":7965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[121],"tags":[315,316,314],"class_list":["post-7958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-ai","tag-316","tag-314"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/7958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/comments?post=7958"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/7958\/revisions"}],"predecessor-version":[{"id":7970,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/7958\/revisions\/7970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media\/7965"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media?parent=7958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/categories?post=7958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/tags?post=7958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}