易理华再提美股AGPU：公司被严重低估，Q2财报释放四大利好

易理华再提美股AGPU：公司被严重低估，Q2财报释放四大利好

2026-08-18 21:24

ChainThink 消息，8 月 18 日，据 X 平台消息，Liquid Capital（前 LD Capital）创始人易理华表示，AGPU Q2 财报释放四项关键信号：每笔合同预付款比例为 20% 至 40%，8 月已收到 3.17 亿美元预付款；

预计合同 EBITDA 利润率为 62% 至 76%，高于 CRWV 的 59% 和 NBIS 的 50%。

易理华称，AGPU 正向算力中心持有者转型，将与 DUOS 合作建设数据中心并持有 49% 权益，未来除提供算力外，还将直接拥有机房及电力资产。

公司短期融资主要依靠客户预付款和发债，基本覆盖建设资金，以降低对股票融资的依赖及股东稀释压力。

易理华认为，尽管 AGPU 股价较此前发布研报时已有明显上涨，但相较百亿美元级订单合同预期，当前股价仍处于严重低估阶段，主要原因是订单签署、算力交付与财报确认之间存在时间错配。

Disclaimer: Contains third-party opinions, does not constitute financial advice

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