人工智能貨幣化轉向基於使用量的定價

Investors Should Know: AI monetization is shifting from flat subscription models toward outcome-based and usage-based pricing, with infrastructure spending increasingly tied to the economics of running AI agents at scale.

Enterprise software vendors are rethinking how they charge for AI. Rather than bundling AI features into seat-based subscriptions, companies are moving toward models where customers pay based on what AI agents actually accomplish. This includes tasks like resolved support tickets, qualified leads, or completed workflows.

This shift creates new pressure on both vendors and customers. Vendors must demonstrate measurable value to justify per-outcome pricing. Customers must manage AI usage costs the same way they manage cloud compute, as a variable operating expense tied to consumption.

The infrastructure layer is feeling this pressure too. As AI moves from training to continuous inference, the cost of running models at scale becomes a central concern. Storage architecture, liquid cooling capacity, and total cost of ownership are now part of the AI economics conversation alongside chip performance.

Key publicly traded companies operating across this landscape include HubSpot (HUBS) and Gen Digital (GEN) on the software and security side, Western Digital (WDC) and Jabil (JBL) on the infrastructure side, and Advanced Micro Devices (AMD) and Amazon.com (AMZN) among the broader AI and machine learning ecosystem participants.

Recent earnings reports and press releases show how companies across the AI stack are navigating the shift from one-time training workloads to continuous agent operations.

In the face of an evolving AI landscape, which stocks in the sector have captured the imaginations of investors recently?

The screener below identifies companies classified within the AI and machine learning theme, filtered for strong price momentum, and ranked by relevance to the theme, with the most theme-aligned companies appearing first.

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該榜單名列前茅的是Applied Digital（ARAD）、Butterfly Network（BFLY）、DigitalOcean（DOCN）、Innodata（INOD）和Nebius（NBIS），它們的勢頭評級均為A+。Astera Labs（ALAB）、AMD、Amazon.com（AMZN）、Arm Holdings（ARM）和Dell Technology（MEL）躋身前十名。