如果含上市前数据，截至2024年底，蔚来累计亏损已超1000亿元，而2025年前三季度总亏损152.2亿元，尽管亏损在持续收窄、营收规模在增长，但常年保持近20%的高研发投入，叠加庞大的基础设施运营成本，如同两道枷锁，让蔚来难以脱身。这正是李斌急于将芯片、换电业务分拆融资的核心动因：通过“分拆”将巨额研发成本移出上市公司报表，缓解资本市场对“千亿亏损”的担忧。
It is also worth remembering that compute isolation is only half the problem. You can put code inside a gVisor sandbox or a Firecracker microVM with a hardware boundary, and none of it matters if the sandbox has unrestricted network egress for your “agentic workload”. An attacker who cannot escape the kernel can still exfiltrate every secret it can read over an outbound HTTP connection. Network policy where it is a stripped network namespace with no external route, a proxy-based domain allowlist, or explicit capability grants for specific destinations is the other half of the isolation story that is easy to overlook. The apply case here can range from disabling full network access to using a proxy for redaction, credential injection or simply just allow listing a specific set of DNS records.
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