{
 "generated": "2026-11-01",
 "node": {
  "id": "layer:compute-industry--5",
  "type": "Layer",
  "name": "数据中心建造与运营",
  "slug": "compute-industry--5",
  "map": "compute-industry",
  "map_title": "AI 算力产业链",
  "num": 5,
  "step": "Layer 05",
  "role": "谁在真金白银地把机架建起来、租出去。 2026年的结构性变化：表外融资联合体（SPV/JV）正取代直接资本开支，成为超大规模厂商的默认建楼方式 。",
  "n_cards": 9,
  "page": "/landscape/compute-industry/#layer-5",
  "degree": 0
 },
 "page": "https://xiaopingfeng.com/graph/e/layer/compute-industry--5/",
 "out": [
  {
   "type": "flows_to",
   "sentence": "总览图里的箭头：数据中心建造与运营 → 电力 / 冷却",
   "direction": "out",
   "id": "layer:compute-industry--6",
   "name": "电力 / 冷却",
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」总览图：第 5 层指向第 6 层",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/"
    }
   ]
  },
  {
   "type": "flows_to",
   "sentence": "总览图里的箭头：数据中心建造与运营 → 太空数据中心",
   "direction": "out",
   "id": "layer:compute-industry--7",
   "name": "太空数据中心",
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」总览图：第 5 层指向第 7 层",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/"
    }
   ]
  }
 ],
 "in": [
  {
   "type": "placed_in",
   "sentence": "Microsoft出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:microsoft",
   "name": "Microsoft",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Microsoft」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-microsoft-dc"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "Amazon出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:amazon",
   "name": "Amazon（AWS）",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Amazon」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-amazon-dc"
    },
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Amazon · AWS」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-amazon-openai"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "Google出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:google",
   "name": "Google",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Alphabet/Google」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-google-dc"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "Meta出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:meta",
   "name": "Meta",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Meta · Hyperion / Prometheus」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-meta-dc"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "Oracle出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:oracle",
   "name": "Oracle",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Oracle」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-oracle-stargate"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "CoreWeave出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:coreweave",
   "name": "CoreWeave",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「CoreWeave」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-coreweave"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "Nscale出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:nscale",
   "name": "Nscale",
   "reported": false,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Nscale（英国）」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-nscale"
    }
   ]
  },
  {
   "type": "placed_in",
   "sentence": "Stargate出现在 Landscape 的「数据中心建造与运营」",
   "direction": "in",
   "id": "org:stargate",
   "name": "Stargate",
   "reported": true,
   "status": "derived",
   "evidence": [
    {
     "kind": "own",
     "label": "本站页面",
     "text": "Landscape「AI 算力产业链」第 05 层「数据中心建造与运营」：卡片「Stargate JV 现状」",
     "url": "https://xiaopingfeng.com/landscape/compute-industry/#player-stargate-status"
    }
   ]
  }
 ]
}